TE Management affiliate American Industrial Transport has completed its acquisition of the rail car assets of SMBC Rail Services.
High numbers of migrant crossings in September disrupted freight rail operations, including Trinity Industries’ and FreightCar America’s ability to send new rail cars into the U.S., executives said on recent earnings calls.
The rail industry continues to streamline operations and realign rail car fleet management via acquisitions.
The Greenbrier Companies, GATX and Wabtec all reported quarterly earnings this week. Among the themes expressed during earnings calls was pervading market uncertainty domestically but an abundance of international opportunities.
Looming rail car retirements and high rates for rail car scrapping — not rail volumes — are driving the rail car market, according to the CEOs of rail car leasing companies and rail equipment manufacturers.
Ohio Gov. Mike DeWine wants President Joe Biden to declare East Palestine a disaster area, while Norfolk Southern calls for rail car owners associated with the Feb. 3 derailment to help pay cleanup costs.
Railcar manufacturers expressed five themes in recent earnings calls. Their consensus: There is still much to be upbeat about.
Trinity Rail Group will supply a mix of 15,000 tank and freight railcars to GATX over a span of six years.
Shippers want to move more goods via rail, and they will do so once rail service improves. This will ultimately benefit lessors like Trinity Industries, CEO Jean Savage told investors on a recent earnings call.
Pent-up demand for railcars will support GATX even as rail service clears up.
The U.S. railcar lessor doesn’t expect the war in Ukraine to impact company profits, but the conflict is affecting operations in Poland.
North American rail equipment manufacturers have customers and offices in the region, and they’re assessing what steps to take next as the situation unfolds.
FreightWaves market expert Mike Baudendistel chats with Harris Ligon, co-founder and CEO of a stealth startup, about how recent growth trends for industrial production in North America will affect rail volumes and equipment availability.
Railcar leasing could be on the upswing for a number of car types, executives for railcar lessor Trinity Industries said during the company’s fourth-quarter 2021 earnings call on Thursday.
Railcar orders rose more than 50% in the fourth quarter, according to the Railway Supply Institute.
The railcar leasing market for 2022 feels more solid than past years, executives said Tuesday during GATX’s fourth-quarter 2021 earnings call.
GATX President and CEO Brian Kenney is retiring, and EVP Bob Lyons will succeed him.
Although macroeconomic factors and lower train speeds support railcar leasing, the growth trend might be choppy as the COVID-19 pandemic and supply chain disruptions still weigh on the market, Trinity Industries and GATX said during their third-quarter 2021 earnings calls.
Railcar order backlogs can help the freight rail industry understand where the railcar market is in the supply-and-demand cycle, according to this AskWaves article.
AskWaves answers why rail industry observers like to keep track of the number of railcars in storage. Hint: It has to do with broader economic trends.
A market recovery is underway for railcar lessors and equipment manufacturers, but the market also has a ways to go before it bounces back completely, according to industry observations.
Railcar manufacturer Greenbrier expects economic conditions and the rail market to improve in the second half of the year and that optimism is starting to be reflected in higher inquiry activity.
Although market conditions are improving for Trinity Industries (NYSE: TRN), the railcar lessor and rail equipment manufacturer anticipates persistent headwinds through the first half of 2021 as prospective customers take a wait-and-see approach to gauging market demand. “Market uncertainty as it relates to COVID-19 remains the predominant story on the economic and rail industry outlook. […]
Railcar manufacturer Greenbrier is forming a joint venture with transportation asset management firm Longwood to lease railcars.
Revenue growth in the railcar lessor’s international segment and in its portfolio management program affiliated with Rolls-Royce helped offset losses for its North American segment.
Trinity took a $369 million impairment charge because leasing small cube covered hoppers exposed the railcar lessor to the frac sand market.
These factors are dampening lease rates and renewal activity, the company said during its second-quarter earnings call on Tuesday.
Railcar manufacturer Greenbrier trimmed its output and headcount in its fiscal year third quarter in response to the COVID-19 pandemic.
The railcar lessor is looking for further add-ons to its fleet as competitors face pressure from the COVID-19 pandemic and the volatile crude oil market.
The drop in North American rail traffic could push railcar leasing rates lower.
FreightCar America’s fourth-quarter results highlight the weakened railcar demand environment.
Spare aircraft engine dispositions stave off weakened demand for railcars in North America.
The rail equipment manufacturer and lessor has tapped a Caterpillar executive and Trinity board member to head the company.
The volume drop has created ripple effects, including some lower railcar leasing rates.
Jim Blaze writes about the North American railroads KPIs, and what the railroads need to do to increase railcar use, revenue and shipper loyalty.
FreightCar America sees net loss more than double as it navigates the downside of railcar demand. The company’s cost restructuring remains on track.
FreightCar America entered a joint venture to build a new manufacturing facility in Mexico as part of its cost improvement initiative.
Trinity Industries announced that Chief Executive Officer and President Timothy R. Wallace plans to retire as soon as a replacement is found.
With rail traffic lower year-over-year and PSR initiatives in full swing, it’s understandable that soft railcar demand attracted attention at an investor conference.
The railcar manufacturer and lessor has been tinkering with its designs for railcars to expand their volume capacity while also making them lighter.
Greenbrier said the acquisition will enable the company to provide customers not only with direct sales or leasing options but also with after-market services. Customers seeking tank cars and covered hoppers will also benefit from Greenbrier’s expanded geographic footprint as a result of the acquisition.
Jim Blaze writes about the pros and cons of shippers owning or leasing their own freight railcars to move their products.
A Trinity Industries subsidiary has bought 230 acres in Iowa to construct a multi-million-dollar railcar maintenance facility. The facility’s location in Butler County will give Trinity access to the Class I railroad network and the upper Midwest, Trinity said.
A number of rail equipment lessors and manufacturers have been merging and consolidating in recent months as a way to leverage themselves against marketplace changes brought about by precision scheduled railroading. Meanwhile, industry observers are watching whether railcar utilization grow in 2019.
