Canadian National and Canadian Pacific reached separate 10-year agreements with Canpotex Ltd. to transport potash volumes that Canpotex ships to export markets. Under CP's agreement, CP will be Canpotex's principal Canadian railway, transporting a large majority of potash shipments to Canpotex's main terminal in Vancouver, British Columbia. In addition, in conjunction with Union Pacific, CP will transport significant Canpotex potash shipments to Portland, Ore.
Neuilly-sur-Seine, France-based Thales Group said Monday it has been awarded a contract by IHI Corp. to resignal and upgrade the automated people mover (APM) located within Hong Kong international airport.
Railway Age Publisher Jonathan Chalon on Friday announced the “official launch of the new Railway Age website.”
Erie, Pa.-based GE Transportation on Friday reported $1.5 billion in fourth-quarter 2011 revenue, up 43% year-over-year. Revenue for the full year 2011 was $4.9 billion, up 45% compared with fiscal year 2010. Segment profit for the fourth quarter was $226 million, up from $73 million in 2010. Full-year profit for GE Transportation was $757 million, up from $315 million in 2010.
Amtrak reportedly hopes to begin passenger rail service to Norfolk, Va., along the south side of the James River, by the end of the year.
The 1.7-mile Central Subway sought by San Francisco has received a “letter of non-prejudice” from the U.S. Department of Transportation, San Francisco Mayor Ed Lee says. The move clears the way for the city to commence construction on the underground LRT route, expected to cost $1.6 billion.
The Railway Supply Institute says its RSI 2012/2013 Academic Year Scholarship application is now available online. Applications and related materials are due on April 20.
U.S. freight carload traffic rose 5.5% for the week ending Jan. 14 compared with the second week of 2011, the Association of American Railroads said Thursday. U.S. intermodal volume also rose, up 7.4% for the week measured against the comparable period in 2011.
GATX Corp. Thursday reported higher railcar lease prices and continued high utilization as it released results for fourth-quarter 2011 and the full calendar year.
Union Pacific announced Thursday that it earned 2011 fourth-quarter net income of $964 million, or $1.99 per diluted share, compared with $775 million, or $1.56 per diluted share, in fourth-quarter 2011, a record. For the full year 2011, UP reported income of $3.3 billion or $6.72 per diluted share, another record. This compares with $2.8 billion or $5.53 per share in 2010. The Class I railroad also outlined its planned 2012 capital investment program of "around $3.6 billion."