Kansas City Southern’s Q3 net profit grows 5% despite lower revenue
Lower operating expenses drove the increase in third-quarter net income.
Railroads continue to play a significant role in North America’s economic infrastructure. According to the U.S. Department of Transportation Federal Railroad Administration, the U.S. rail freight network covers almost 140,000 route miles and is generally considered the largest, safest, and most cost-efficient freight system in the world. In addition, says the FRA, the almost $80 billion rail freight industry creates more than 167,000 jobs across the country.
In essence, rail freight companies charge businesses to carry cargo across their network of rails. Their rates are overseen by the Surface Transportation Board, a federal agency that regulates financial aspects of surface transportation. Major railroads in North America include Union Pacific Railroad, BNSF Railway, CSX, Norfolk Southern, Canadian Pacific Kansas City and Canadian National Railway.
Keep up with the latest news, trends and reports concerning rail freight transport here!
Lower operating expenses drove the increase in third-quarter net income.
“Port partners are taking proactive steps to add more resources and service hours to support this untraditional peak cargo volume season.”
U.S. intermodal traffic on a weekly basis rose 8.4% year-over-year. Carload volume still lags although the year-over-year gap is narrowing.
Intermodal containers arrived this week at North Dakota’s first and only intermodal facility in Minot.
The USMCA Corridor would connect rail from the Pacific Ocean in Mexico through the United States all the way to Canada.
The groups say more federal oversight is needed for the transport of liquefied natural gas by rail.
Rail reform law faces backlash from pro-regulation forces; tragic mistake to reverse course, former DOT secretary says.
A rail shippers coalition continues efforts to ask the Surface Transportation Board to consider collecting first-mile and last-mile data.
GoRail sent a letter on the 40th anniversary of the Staggers Act telling the Surface Transportation Board not to make wholesale changes to rail regulation. The letter had over 1,000 signatures from local, state and federal officials and executives.
GameAbove Capital takes equity stake in Pro-Tech Group’s patented technology for better utilization of empty railcars.
Oklahoma looks to have a reasoned approach toward railway change.
The Canadian government will invest C$33.4 million in the inland Quebec port.
Train vs. truck in collisions. Train always wins.
The federal agency says the rule would reduce unnecessary costs and incentivize innovation while also improving rail safety.
Two Class I railroads select members for their respective boards of directors.
Container chassis management model in the U.S. challenges advancement of full-circle tracking technologies.
Brad Hildebrand discussed Cargill’s reliance on dependable rail service during FreightWaves Last Mile Logistics Summit.
U.S. intermodal volumes grew in September amid a continued increase in U.S. imports.
The Eastern U.S. railroad said it expects preliminary operating revenue of $2.5 billion and operating expenses of $1.67 billion in the third quarter of 2020.
Grain members of Surface Transportation Board advisory committee say the railroads have been supplying sufficient amounts of power and crews to meet service needs.
Although the hurricane isn’t expected to make landfall until later this week, the Class I railroads are preparing now for potential service disruptions.
Railway blockades reportedly are costing the Mexican economy more than $18 million a day.
Drayage truckers on the Envase platform have access to an online marketplace that connects them to available parking and storage lots nationwide.
National freight “outlook” is significant for states, municipalities and companies that may want federal money for rail or other transport projects.
CN and Canadian Pacific say they’ll use communication and technology to grapple with winter’s operational challenges.
The independent federal rail agency is looking at the market factors determining exemption from board oversight. The board also separately declared five Class I railroads as being revenue adequate in 2019.
The inability of ocean carriers to timely inform shippers of schedule changes results in costly logistics disruptions and potential for lost international sales.
Warehouse/storage jobs up a whopping 32,200.
The rail sites are for manufacturers wanting to expand their footprint domestically or tap into the export network.
U.S. intermodal traffic continues its upward trend but carloads are still lower year-over-year.
Alaska and South Dakota received $6.9 million in grants from the Federal Railroad Administration for rail-related projects.
It is too early to call the intermodal recovery a long-term win for the railroads.
Individuals who allegedly crossed border illegally were reportedly found climbing moving train and locked in grain hopper.
U.S. rail volumes were down by only 1.3% compared with the same period in 2019. Intermodal traffic provided the boost.
The railroad will convert to flat switching at the Pennsylvania yard.
The grants help localities, short lines and passenger railroads improve the safety and efficiency of their rail networks.
The new standard developed by the Railway Supply Institute builds upon existing federal and trade standards.
The U.S. railroads with operations that cross the U.S.-Mexico border are bolstering their networks to manage an anticipated increase in volumes.
Bias-ply tires persist within the nation’s container chassis fleet, but equipment providers vow that their days are numbered with the ongoing switch to radial tires.
Cass data for the month of August shows significant acceleration in demand and rates but the comparisons to 2019 still lag other data sources.
But despite the increase between July and August, employment totals of the U.S. Class I rail operations are still down year-over-year.
2020 could end up for the railroads as the worst overall freight volume loss year-over-year in the past 15 years.
The provision of sizable infrastructure is an example of the government’s positive role in the market for transportation.
FreightWaves chatted with Norfolk Southern’s Chief Sustainability Officer Josh Raglin to learn how the company’s sustainability efforts complement operations.
Newly released case study says gateway’s work could become model for other Canadian ports
U.S. rail volumes, including intermodal traffic, fell in a week that was shortened by Labor Day.
Online sales depend heavily on a robust industrial real estate infrastructure.
FreightWaves CEO and Director of Freight
The U.S. Department of Transportation awarded $1 billion in BUILD grants. A handful of those grants went to projects improving freight rail traffic flows.
The deal comes amid wider efforts from both companies to expand their reach and increase supply chain efficiency.
A bountiful harvest, anticipated surge in export volumes as well as wild card factors could test U.S. rail network capacity post-PSR.
Changes with significant impact on rail customers are taking place across New England.
Kathryn M. Farmer will assume the role of president and CEO in January, taking the reins from current President and CEO Carl R. Ice. Ice is retiring but will remain on BNSF’s board of directors.
The hurricane is expected to make landfall in the New Orleans area sometime Tuesday.
The wildfires in Washington state aren’t a major threat to BNSF’s Washington operations, but the railroad deployed trains to help area first responders. Union Pacific grappled with wildfires near a Northern California subdivision last week.
Iowa transportation company Travero plans to open a multimodal cross-dock operation by next September.
“Depressed railcar demand” and the need to cut costs factored into the manufacturer’s decision.
A Colorado county has paved the way for the construction of a 620-acre rail-served industrial park in the greater Denver area.
More than 20 years of investment and dedication to the U.S. wind energy industry pays off for Anderson Trucking Service even during the worst of times.
U.S. intermodal traffic continues upward trend; separately, Kansas City Southern reportedly rejects takeover bid.
Information sharing is part of Executive Director Gene Seroka’s quest for more efficient operations.
The railroad didn’t say where the layoffs occurred, but they affect union and management employees across the 23-state network.
CBP’s Virtual Trade Week symposium kicked off Tuesday with a panel on the advantages of United States-Mexico-Canada Agreement.
The Class I railroads update agencies on service issues; shippers use the opportunity to ask for data collection on first-mile and last-mile movements.
The Board is modifying what data it collects from the waybill samples of the U.S. freight railroads.
Whether you’re an employer looking to fill freight-related positions or a job-seeker, Freight.Careers.com is the go-to website.
Trucking jobs are up, but warehouse jobs are up even more
The year-over-year growth comes amid reports of congestion at some West Coast ports.
Railroads and union disagree over Federal Railroad Administration final rule enabling use of continuous rail inspection technology.
The Wall Street Journal is reporting that U.S. Class I railroad Kansas City Southern is in play again. Blackstone and Global Infrastructure Partners are reported to have made an offer.
Intermodal was supposed to be the growth engine for rail.
CN orders 50 electric trucks from Lion Electric Co. to support its intermodal operations in its largest urban markets in Canada.
Canadian Pacific and CN say the deepwater ports are key to gaining market share.
A district court judge has signed off on a $48.9M class-action settlement for employees of two of the nation’s largest railway suppliers that are alleged to have engaged in no-poaching agreements.
Class I railroad crews will spend the next two days clearing downed trees and restoring electric power along tracks in southern Louisiana.
CSX expects the construction of two new intermodal terminals, one in North Carolina and the other in Ohio, to be completed in the first quarter of 2021.
Union Pacific reports serious damage to its tracks near Lake Charles after Hurricane Laura pushed across Louisiana.
Weekly U.S. intermodal traffic continues upward, but Hurricane Laura could threaten that trend.
Wabtec’s former chief technology officer departs for CN; Wabtec appoints a new leader to the role.
The Surface Transportation Board and the Federal Railroad Administration administrator seek answers about Class I rail performance, while labor groups question furlough-related actions.
The Freight RAILCAR Act would provide a tax credit incentive for railcar owners to upgrade or replace railcars to more fuel-efficient models.
The railroads are taking precautions to ensure their networks are secure ahead of two U.S. Gulf Coast storms.
Environmental groups and several states have filed lawsuits against regulation governing liquefied natural gas by rail over environmental and safety concerns.
With diesel cheap, the fuel advantage for moving a ton of freight narrows for the railroads.
An increase in U.S. rail traffic pulled headcount higher in July.
Weekly U.S. intermodal volumes notched higher again for the second week in a row.
The short line operator prepares itself to manage future growth opportunities.
The campaign is part of a broader effort to prevent the spillage of the tiny pellets during their transport.
“Ice jacking” led to the February derailment of a CN crude train in Ontario, according to the Transportation Safety Board of Canada.
Volume declines for coal and energy, as well as customers’ changing business conditions, are factors behind the facility’s July closure.
Jack Mahoney will take over for the retiring Guy Stephenson.
The Class I’s have reached 100% compliance with three of the five categories required to reach full implementation.
The Port of Charleston reports its busiest July for vehicles handled.
Intermodal volumes actually grew year-over-year.
The railway hopes to build its intermodal presence in the East and bolster the network serving Toronto, Montreal and the U.S. Midwest.
Some volumes have been diverted to the Port of Halifax and other East Coast ports.
Although the order volume for new railcars could be “lumpy” industry-wide, the railcar manufacturer hopes to take advantage of increased inquiries.
The unions filed a lawsuit against the Class I railroads, saying the railroads refuse to discuss changes to certain healthcare benefit provisions during the collective bargaining process.
The COVID-19 pandemic dented BNSF’s profits and lowered rail volumes in the second quarter.
PayCargo has become a force in the online payment of freight transportation bills and now offers coronavirus-impacted shippers and forwarders credit lines to smooth their cash flow.