The class 1 railroad owned by Berkshire Hathaway had the worst OR of any of the class 1 railroads for the second quarter.
Stifel’s super-team of equities analysts took a hard look at trade war risk for carriers in every mode and various types of logistics service providers. Dry bulk maritime is the most exposed, while air cargo is the least. Railroads and intermodal carriers like JB Hunt and HUB Group also have significant risk.
The improved Operating Ratio posted by Norfolk Southern wasn’t enough to stop analysts from asking about its comparison to that of CSX.
CN had a strong quarter as it comes out of system problems that stretch back into 2017.
Analysts have issues with the operating rate, and price increases that seem small compared to the transport sector as a whole.
CSX hit records on operating ratio while improving train speed and dwell time, but says intermodal still needs a “ton” of work and pricing will reflect CSX’s “superior product.”
The newest frac sand company, Covia Holdings, was born out of a merger last month. It’s also the largest, with a market cap exceeding $2.2B. We discuss recent shifts in frac sand supply, demand, and sourcing.
Intermodal is clearly benefiting from price comparisons between rails and trucks, but it’s mostly macroeconomics that fueled the Deutsche report.
Turndowns and trucks in market both deteriorated this week as shippers and carriers enjoyed their Independence Day holiday. US-China tariffs begin today; railroads worried about tariffs’ impact on carloads; air freight’s pilot shortage accelerating drone adoption; unemployment up slightly as US adds 213K jobs.
Delays by other railroads in implementing PTC is the basis for BNSF to request a delay in its end-year deadline.
Railroads have raked in profits while service deteriorated, posting record operating ratios as network velocities reached 10 year lows. Pressure from regulators, though, may have finally pushed them to raise capex.
Canadian National is making good on its promises to fix some of their deteriorated infrastructure and ramp up in response to being challenged on their ability to handle surging freight volumes. The Fed is expected to raise rates while trucking companies invest in the future.
Much of the focus is on its financials rather than any significant shift in operations.
It’s a four-year deal for the Teamsters, ending a walkout that didn’t even last 24 hours.
One union agrees while the other walks, as CP is hit by a strike again. The government signaled it may not step in to end the walkout.
The rejection was of the final offer, not an agreement reached with CP’s unions. About 98% of the voters voted no.
One union agrees while the other walks, as CP is hit by a strike again.
The rejection was of the final offer, not an agreement reached with CP’s unions. About 98% of the voters voted no.
The rejection was of the final offer, not an agreement reached with CP’s unions. About 98% of the voters voted no.
Intermodal prices generally take their cues from the truck market, so this is a lagging indicator.
Signs of movement over to rails, OOIDA sounds off on younger drivers, U2 puts its money into trucking.
NS had weak operating metrics in the first quarter, but strong performance. Hub sees a strong pricing environment for the rails.
Trucking’s environmental progress since the first Earth Day; Volvo Trucks shares battery tech across brands; US oil exports to Europe jump on Brent/WTI spread; BNSF and Union Pacific offer $25k signing bonuses; FedEx links Guangzhou and Memphis; how China is buying Europe.
Talks were with two key unions; ratification vote still necessary
Progress is being made on meeting the concerns of the Surface Transportation Board: execs
The company takes in less revenue, makes more profits and is off a federal watch list.
As capacity has tightened for trucks, the effects have been felt across the industry.
The spot market is normalizing; XPO’s Brad Jacobs talks jazz and M&A; China COSCO’s purchase of OOCL might be held up; railroad Teamsters want NAFTA changes; weak spot rates for container ships pulling down contract negotiations; Xi looks for a way out of the trade war.
The agency that regulates railroads compiles a massive report each week on railroad performance.
After strong fourth-quarter earnings results, weather and other external forces are expected to weigh on earnings reports in the first quarter, resulting in a mixed bag for public companies.
The threat of retaliatory tariffs on American agricultural products could hurt wheat exports, which are already struggling to compete on the international market. Railroad grains volumes in 2018 YTD are down, in many cases by double digits.
CFO of Kansas City Southern spoke at the Global Industrials Conference in London about the challenges faced by the U.S. railroad industry with regard to NAFTA and its prospects in the Mexican cross-border trade.
Every major railroad serving the U.S. got a letter from the Surface Transportation Board.
After a few disastrous months and a CEO ouster, the interim chief lays out the plan.
The CFO of Union Pacific looks at the trucking market and likes what he sees.
The meeting was the first since railroad legend, and CSX CEO, Hunter Harrison died in December.
Union Pacific is investing $550M in its new Brazos Yard in Texas, aiming to smoothly manage growth in two crucial sectors: Mexican automotive production and Gulf Coast petrochemicals and plastics.
A long political fight over an uncontroversial nominee comes to an end
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.
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.
Click through to the map that shows how North America’s infrastructure is already integrated, despite our political disagreements.
Indian economy is booming and the government is busy at work in improving its rail infrastructure to facilitate trade and reduce logistics friction across the country.
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.
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.
The story of railroads is as old as the independence of the United States. The growth of railroads ran in parallel with the economic surge and transportation expansion of the 19th century. Fast forward two centuries and the grasp of railroads on the freight transport market has all but waned.
