FreightWaves market expert Jim Blaze looks at a regulatory spat between Canadian National Railway and Canadian Pacific Railway over the concept of “open access.” Learn why that is important to all railroads – and shippers!
While the degradation was seen across most sectors, the transport sectors saw large declines.
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.
Market expert Jim Blaze compares and contrasts Amtrak and America’s freight railroads.
On stage at Transparency19, FreightWaves CEO Craig Fuller unveiled SONAR 4.0 (video included).
FreightWaves continues to push more features and data into its data analytics platform with 8 new features and 3 data sets.
Genesee & Wyoming, Inc. reported adjusted earnings per share of $0.78 for the first quarter of 2019, which were 11 percent better year-over-year, but less than NASDAQ’s consensus estimate of $0.83.
Market expert Jim Blaze looks at an under-appreciated asset of North America’s freight railroads – their real estate holdings. Read Jim’s hypothesis of what the railroads might do with this real estate in the near future.
Market expert Jim Blaze looks at how rail freight volume has changed over the years and what the outlook is for the next decade. Learn what he thinks will happen to the railroad industry in its long-term competition with trucking to carry freight.
Market expert Jim Blaze questions the benefits to-date of precision scheduled railroading (PSR). Read his views on how railroads could prove PSR’s value to shippers.
With first quarter 2019 earnings set to kickoff on Monday, April 15, FreightWaves is looking at expectations for the transportation stocks.
U.S. and European freight railroads are very different in many respects. Market analyst Jim Blaze gives insights about how the two systems differ.
Precision scheduled railroading and positive train control can help railroads improve service, safety and profits. Learn how in Jim Blaze’s piece.
Railroad company must re-open Thunder Bay, Ontario, span to vehicles after lengthy legal battle.
The request by the Association of American Railroads (AAR) asking the Surface Transportation Board (STB) to include a cost-benefit analysis into its rulemaking process is being viewed by some as a positive step towards aligning STB procedure with other U.S. Department of Transportation (DOT) agencies.
Two major railroads have stopped freight service because of catastrophic flooding in the Midwest where rails are washed out.
Amtrak wants to cut long distance trains for those that travel between heavily populated city pairs. But that plan doesn’t track with what Congress and the freight railroads want.
Rails may need to raise rates to comply with new rules from Washington.
Genesee & Wyoming, Inc. (NYSE: GWR) beat fourth quarter revenue consensus estimates by $4.89 million. Revenue was expected to decrease by 0.2 percent year-over-year (Y/Y), but it increased 0.7 percent Y/Y from $571.6 million to $575.6 million, according to Seeking Alpha. GWR also beat fourth quarter consensus earnings per share (EPS) estimates of $0.89 by $0.11 to $1.00.
Freight lobbyists are banking on leadership changes in the 116th Congress to pave the way for infrastructure financing that stalled during the first half of Trump’s administration.
Autonomous vehicles policy should go beyond the highways and roads, the rail trade group argues.
A decrease in coal volumes did not slow a revenue rise at BNSF Railway Company, which posted a 16% increase in operating revenues in the third quarter compared to Q3 2017.
The FreightWaves Research Institute is excited to announce the release of its second white paper, Global Freight Tickers, a worldwide study of publicly traded transportation and logistics companies
Under the terms of the Saudi joint venture, Greenbrier, the second largest freight railcar manufacturer in the U.S., will provide up to $100 million in new railcars, lift equipment and other terminal investments, and will operate intermodal and other freight terminals.
In his preview of the railroads’ Q3 earnings reports, Susquehanna’s Bascome Majors set optimistic price targets but warned that P/E valuations are at historically high levels.
Howard Green is best on fights between the serial CEO and his boards, activist investors, and proxy wars, but there’s a lot in the book for railroad buffs who want to know more about Harrison’s signature philosophy, precision scheduled railroading.
Mike Lacey sees some improvement in his relationship with railroads, but it’s coming from a very low point.
Stifel’s John Larkin captivated the audience with a wide-ranging presentation on transportation and logistics across modes during Tuesday’s lunch at the McLeod User Conference 2018.
There are approximately 600 rails spanning 140,000 miles in the United States. We take a look at this massive industry in our latest infographic.
A lack of crews and a slowdown in system operations is squeezing intermodal capacity and shutting off an alternative for those looking to move away from trucks.
Most of the gains that helped customers came in the first 25 years after the Staggers Act that deregulated the system. Since then, the gains have not been in service.
A Norfolk Southern executive suggested that the company’s management will have a lot to talk about on its next quarterly earnings call.
Intermodal tightness has pumped the hub of hubs, the Chicago freight market especially on lanes paralleling major railroads; meanwhile a minor heatwave in St. Louis may have been behind a massive surge in reefer turndowns.
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.
