With Railway Age since 1992, Bill Vantuono has broadened and deepened the magazine's coverage of the technological revolution that is so swiftly changing the industry. He has also strengthened Railway Age's leadership position in industry affairs with the conferences he conducts on operating passenger trains on freight railroads and communications-based train control.
The crude by rail (CBR) boom that less than two years ago preoccupied the industry and generated intense regulatory scrutiny is, for all intents and purposes, over, according to a new analysis by RBN Energy.
2018 or 2020, whatever the case may be, isn’t very far off. According to a Positive Train Control implementation chart published on the Federal Railroad Administration website, 30 out 37 U.S. freight and passenger railroads required to have PTC—roughly 80%—will have the technology in place by the year-end 2018 extended deadline.
The Greenbrier Companies, Inc. has promoted two senior-level executives to new positions. CFO Mark J. Rittenbaum, has been promoted to the newly created position of Executive Vice President, Commercial, Leasing and Finance. Lorie L. Tekorius, Senior Vice President and Treasurer, has been promoted to Senior Vice President, CFO and Treasurer. Both report to Chairman and CEO William A. Furman.
Continuing its hostile pursuit of Norfolk Southern, and faced with some stiff political and rail industry opposition in the U.S., Canadian Pacific on Feb. 3, 2016 released a white paper, CP-NS: A Comprehensive Approach to Regulatory Approval “detailing the comprehensive, merit-based process any merger application would be subject to at the Surface Transportation Board,” CP said.
Gilbert Ellzey “Gil” Carmichael, former Federal Railroad Administrator, and founder of the Intermodal Transportation Institute at the University of Denver, died Jan. 31, 2016 at Anderson Regional Medical Center in Meridian, Miss. He was 88.
A strategic business plan signed by General Electric and Russian locomotive and car builder Transmashholding for a diesel powerplant joint venture is an important component of a plan for GE to invest $1 billion in Russia’s oil and gas, power and transportation industries by 2020.
Siemens Mobility announced on Feb. 1, 2016 that it is expanding its footprint in Sacramento,Calif., with a new 60,000-square-foot plant dedicated to its rail service, maintenance and repair operations.
The Massachusetts Bay Transportation Authority is suing Amtrak in U.S. District Court for the District of Massachusetts after the two companies failed to reach agreement on new, vastly increased access fees for MBTA commuter trains operating between Attleboro, Mass., at the Rhode Island border, and Providence, R.I., on the Northeast Corridor.
Constellation, a subsidiary of Exelon Corp., has awarded ABB Canada’s power and automation technology division a contract to engineer, manufacture and commission seven ENVILINETM Energy Storage Systems (ESS) wayside energy management systems with lithium-ion battery storage technology from Saft America, for SEPTA’s (Southeastern Pennsylvania Transportation Authority) rail transit network.
The Railway Supply Institute on Jan. 28, 2016 published its railcar industry order, delivery and backlog statistics for fourth-quarter 2015, and overall, the sector looks solid, according to Steve Barger, Managing Director and Equity Research Analyst with KeyBanc Capital Markets Inc.
Norfolk Southern shareholders “continue to find themselves in the enviable position of having two Class I management teams competing to maximize shareholder value,” says Cowen and Company Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl.
Though Norfolk Southern’s fourth-quarter and 2015 financial results aren’t all that different from those of most other Class I railroads, NS has been particularly compelled to develop an aggressive strategic plan because it is fending off a hostile takeover attempt.
Despite decreases in carloadings and revenue ton-miles, CN on Jan. 26, 2015 posted solid financials for fourth-quarter and full-year 2015. Significant in its results are record free cash flow and full-year earnings, and an operating ratio well below 60. The strength of the U.S. dollar figured in.
CN’s program to build its new, C$250 million Milton Logistics Hub in Ontario is moving ahead with a formal application to the Canadian Transportation Agency (CTA), which is required to approve the project under the Canada Transportation Act.
Brightline, the higher-speed passenger rail service being developed by Florida East Coast Industries subsidiary All Aboard Florida, and Siemens Rolling Stock announced on January 26, 2016 that the first stainless steel carshell for the new service has been completed.
CN President and CEO Claude Mongeau has returned to work after fully recovering from a surgical procedure and will lead the company’s Jan. 26, 2015 earnings call to discuss fourth-quarter and full-year 2015 financial results.
In the midst of a freight traffic downturn that is significantly impacting Class I railroads, short line Morristown & Erie Railway (M&E) posted its third consecutive year of traffic increases in 2015.
Canadian Pacific’s fourth-quarter and full-year 2015 financial results were slightly below analyst expectations yet “still solid given the macro challenges,” according to Cowen and Company Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl. “While volumes should decline in 2016, the company guided for double-digit EPS growth. We are modeling for a more conservative mid-single increase. We remain constructive in the long term but note that near-term upside may be limited.”
WSP | Parsons Brinckerhoff on Jan. 21, 2016 announced four senior management appointments in its U.S. Transportation and Infrastructure sector.
Steve Barger of KeyBanc Capital Markets attended the Midwest Association of Rail Shippers Conference, where, in conversations with railcar OEMs, lessors and shippers, he came to the general conclusion that, though 2016 will be a difficult year for the railcar industry, it is in a good position to withstand a period of weaker orders, chiefly due to a large backlog.