Transport stocks were not immune to the big sell-off on Wall Street on Monday, with the Dow Jones Transport Index falling 336.77 points to 10,350.41, a 3.15% fall on the day.
Amtrak train 91, which was traveling from Penn Station in New York to Miami, should have been on the main line, but it was directed to tracks just east of it, where a CSX train was parked.
Freight brokers’ revenues went up but margins went down in 2017; Amtrak blames CSX for yesterday’s crash; Hazelwood won’t testify in Pilot trial; oil tanker shipping rates crater; click through for more!
After a difficult adjustment period in July/August, CSX improved its performance on key metrics like train speed and dwell time, ending 2017 as an industry leader.
FreightWaves’ readers made the past year a great one for our young brand. Today, we take a fond look back at your favorite articles from 2017.
On Saturday, two days after taking medical leave from CSX, CEO Hunter Harrison died. Investors have serious concerns about the railroad’s commitment to executing Harrison’s vision, while some observers disagreed with his approach entirely.
CSX Corp. CEO Hunter Harrison has taken a medical leave of absence from the railroad due to complications from a recent illness. Investors sold off the company stock, causing a 12% drop and $6 billion loss in company value in morning trading.
Despite continued complaints about CSX’s delays and no-shows, the railroad’s new CEO has made a controversial commitment to raising fees on everything from hazardous materials and overloaded cars to refrigerated cars.
