Management

image
UP’s Fritz ascends to Chairman and CEO Union Pacific’s board of directors elected President and Chief Operating Officer Lance Fritz Chairman, President and Chief Executive Officer, effective Oct. 1, 2015. He succeeds John Koraleski as Chairman. Koraleski plans to retire Sept. 30 after a 43-year career at UP.

does-zero-bakken-crude-for-irving-oil-indicate-a-trend?
Irving Oil Ltd., operator of Canada’s largest crude oil refinery, has stopped importing crude oil sourced from the Bakken shale formation in North Dakota and shipped by rail in favor of cheaper crudes from such producers as OPEC, “reflecting a...
water-train-inc-seeks-test-project-partners
Water Train Inc., an operating unit of Modoc Railroad, has begun solicitations of private persons, companies and municipal governments to participate in the operation of a water test train. The test Water Train will contain 190,000 gallons of Environmental Protection Agency-approved,...
is-rail-doing-enough-to-secure-its-future?
True success lies in the ability to predict future trends accurately and embrace them successfully rather than letting them adversely affect your business. The difficulty lies in making accurate predictions and knowing how to react, especially as the speed of...
stb-sets-2014-rail-cost-of-capital-at-1065
The Surface Transportation Board has set the rail industry’s 2014 after-tax cost of capital at 10.65%, some 6% lower than the 2013 figure of 11.32%. The cost of capital figure represents the Board’s estimate of the average rate of return “needed...
cp-set-for-superior-grain-service
Canadian Pacific says it “is well positioned to provide best-in-class service to western Canadian grain shippers during the 2015-2016 crop-year.” CP’s Dedicated Train Program (DTP), introduced in the 2014-2015 crop year, helped the railroad move a record 276,154 carloads (27,849,434 tons)...

west-coast-cbr-shipments-stable-for-now
There is “big potential” to expand crude by rail shipments to West Coast ports and to California, but building the infrastructure “has proven painstakingly slow,” writes RBN Energy LLC analyst Rusty Braziel. “CBR shipments from North Dakota to West Coast destinations...
ns’-butler-set-to-retire
Deborah H. Butler, Executive Vice President Planning and Chief Information Officer of Norfolk Southern (NS) will be retiring, effective Oct. 1, 2015, NS President and CEO Jim Squires announced August 4. “Envisioning the railroad of tomorrow is one thing, actually making...
up’s-fritz-ascends-to-chairman-and-ceo
Union Pacific’s board of directors elected President and Chief Operating Officer Lance Fritz Chairman, President and Chief Executive Officer, effective Oct. 1, 2015. He succeeds John Koraleski as Chairman. Koraleski plans to retire Sept. 30 after a 43-year career at...
is-bakken-cbr-fading-away?
Bakken crude oil hauled in unit trains may disappear by 2017, according to an analysis conducted by RBN Energy LLC. “Bakken crude-by-rail (CBR) volumes are down this year and pipeline shipments are increasing as production levels off in the wake of...
ns-absorbs-second-quarter-hit
“Short-term pressure,” in the words of President and CEO Jim Squires, contributed to Norfolk Southern on July 27, 2015 posting second-quarter 2015 financials with significant declines in net income, operating revenues and earnings per share, and an operating ratio that rose...