Railway Age News

A new transportation proposal introduced by Nashville Mayor Megan Barry calls for long-term investment to improve the city's transportation system and includes 26 miles of light rail.

Wednesday, October 18, 2017

Weekly carloads gain, no thanks to coal

Total U.S. rail traffic was 548,264 carloads and intermodal units, up 3.1% for the week ending Oct. 14 compared with the same week in 2016, according to the Association of American Railroads.

At CSX’s third-quarter 2017 earnings call, President and CEO E. Hunter Harrison acknowledged the railroad’s recent service problems, but insisted that CSX has recovered and is in better shape operationally than when he came on board earlier this year.

Wednesday, October 18, 2017

34th CREATE project under construction

Ground has been broken on Phase III (construction phase) of the CREATE (Chicago Region Environmental and Transportation Efficiency) Program’s 34th initiative, Project B1, “Canadian Pacific Crossover Upgrades.” Metra and Canadian Pacific Railway (CP) will upgrade signals and add several crossover tracks, principally within the Metra Milwaukee District West right-of-way.

The government of Canada is giving OmniTRAX 30 days to repair and restore service on the Hudson Bay Railway to Churchill, Manitoba, or risk a lawsuit for breach of contract.

Wednesday, October 18, 2017

Third-quarter revenue, net up at CP

Canadian Pacific Railway reported third-quarter adjusted diluted earnings per share of $2.90, up 6%, on revenue that was 3% higher at $1.6 billion.

The results of Cowen and Company’s Third-Quarter 2017 Railcar Survey are a “net neutral,” based on several factors, according to Vice President Matt Elkott. The percentage of shippers responding to the survey planning to order railcars in the next 12 months declined slightly, but increased on a same-shipper basis, “which is a more relevant metric for measuring quarter-over-quarter changes in demand outlook.” As well, the level of certainty about ordering declined.

Railroad shippers are anticipating price increases averaging 3.2% over the next 6-12 months, according to Cowen and Company’s Third-Quarter 2017 Rail Shipper Survey. This is a 20 basis point sequential increase from 3.0% in Cowen’s 2Q17 survey.

Kansas City Southern has formed a new Health, Safety and Environmental group within the Operations department “to consolidate occupational health, workplace and public safety, and environmental functions under a single management to better align and coordinate with the company’s Operations groups,” KCS reported on Oct. 17.

L&W Industries, based in Springfield, Mo., has developed a patent-pending Heavy Duty Conversion Bracket that improves safety and reduces the maintenance costs of railway crossings.

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