railroad News Updates

The Department of Transportation has approved an $8.67 million grant for Taylor County, Fla., to revitalize 80 miles of railway between Florida and Georgia, Rep. Neal Dunn (R-Fla.) has announced.

Norfolk Southern Corp. completed a red-hot second quarter for rail freight carriers, posting a 23% increase in profits and a 15% increase in operating income reversing a lackluster year in 2016.

Intermodal service is set for the Port of Wilmington, N.C., with daily CSX service to Charlotte. The first double-stack trains are due to begin operating July 28.

Kansas City Southern continued the red-hot results from railroad freight carriers in the second quarter, with its profit growing 11.9%, slightly beating the consensus analyst forecast.

Freight rail carrier Union Pacific Corp. announced July 20 that profits jumped 19% in the second quarter after CSX Corp. and Canadian Pacific Railway posted strong gains earlier in the week.

CSX Corp. investors who endorsed a massive pay package to bring railroad wunderkind Hunter Harrison on board as CEO are already seeing the payoff. The question is, at what cost?

Intermodal rail and trucking companies are competing to meet the transportation needs of e-commerce businesses while adapting to how these new supply chains differ from those of traditional brick-and-mortar retailers.

All publicly traded freight railroads reported higher profits in the first quarter, led by a strong rebound in coal transportation from the doldrums of recent years and continued improvement in the intermodal sector.

Shippers of bulk freight expect prices to rise on railroads next year, but they could have greater control in contract negotiations because of competition from trucking with intermodal rail, according to a Nov. 16 report from RBC Capital Markets.