New generation trains running on existing track can easily combine higher speeds, lower energy consumption, reduced noise, and lower costs, according to findings by Swedish researchers released Wednesday in Stockholm. The four-year project was supported by three major partners, including Bombardier Transportation, Bombardier said.
Canadian National Tuesday reported net earnings of C$592 million, or C$1.32 per share, up 18% from C$503 million or C$1.08 per share in the same quarter a year ago. Adjusted earnings of C$1.30 handily surpassed Wall Street consensus estimates of C$1.24. Revenue rose 12% C$2.38 billion, a record, that also surpassed Street estimates of C$2.30 billion.
The bistate, trans-Hudson PATH rail system rolled to a record ridership 76.6 million trips in 2011, an achievement that the Port Authority of New York & New Jersey notes followed the investment of more than $1 billion in PATH during the past four years for new cars, station upgrades, and a new signal system.
CSX Corp. said late Monday fourth-quarter earnings of 43 cents per share, up 13% from 38 cents per share in the fourth quarter of 2010, as it recorded revenue of about $3.0 billion and operating income of $841 million. CSX also notched an operating ratio of 71.5%.
New York MTA’s two regional railroads, Metro-North Railroad and the Long Island Rail Road, on Monday presented a formal “Pledge to Customers” during the MTA Railroad Committee meeting, with both entities promising, in writing, to provide safe and reliable service.
CSX Corp. Monday said it had appointed Oscar Munoz as executive vice president and chief operating officer and appointed Fredrik J. Eliasson as executive vice president and chief financial officer, effective immediately.
Kansas City Southern late Monday said it had notched record fourth-quarter revenue of $530 million, up 11% from the comparable quarter in 2010, while generating operating income of $150 million, up 11% from $135 million a year ago.
Railway Age is now accepting entries for its annual Short Line/Regional Railroad of the Year competition. Short lines and regionals—and there are more than 500 of them—are invited to submit entries describing outstanding achievement in one or a combination of areas.
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.