Latest News Continued

At its monthly meeting, the Port Authority of New York and New Jersey Board of Commissioners authorized an option under the PATH Railcar procurement contract with Kawasaki Rail Car Inc., to purchase 10 additional PA-5 railcars at a total cost of $15 million.


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Consolidated sales for Koppers Holdings Inc. in the second quarter of 2010 were 12% higher than sales in the prior year quarter. Sales for Carbon Materials and Chemicals (CM&C) increased by 30%, or $47.5 million over the prior year quarter, which was partially offset by lower sales for Railroad and Utility Products (R&UP), which decreased nine percent, or $12.0 million. The increase in sales in CM&C was due to higher volumes for carbon materials and higher volumes and prices for coal tar chemicals. R&UP sales were lower due to lower volumes of untreated crossties, as reduced buying patterns by the Class I railroads in the first quarter due to unfavorable weather continued into the second quarter as some of the railroads have been reducing inventory levels.

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Bombardier Transportation, together with consortium partner, Vossloh Kiepe, signed an option to supply an additional 14 BOMBARDIER FLEXITY Swift light rail vehicles to Greater Manchester Passenger Transport Executive's (GMPTE's) Metrolink system. This option forms part of the contract signed with GMPTE in April 2007 and is valued at $43 million U.S. with Bombardier's share amounting to approximately $32 million U.S.

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The Association of American Railroads announced that U.S. railroads reported the highest traffic levels of 2010 for both carload and intermodal traffic for the week ending July 31, up 9.4% the from same week in 2009 but down 10.65% from the same week in 2008. U.S railroads originated 300,292 carloads for the week, and intermodal traffic totaled 232,895 trailers and containers,

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The Northern New England Passenger Rail Authority (NNEPRA) has awarded L.B. Foster Co. a $5.3-million contract to supply 5,561 tons of rail for the Downeaster-Portland North Project. NNEPRA is using a $35-million grant from the American Recovery and Reinvestment Act to help pay for the 26.4-mile track rehabilitation and expansion between Portland and Brunswick, Maine. The new Downeaster line will provide improved Amtrak service within the area and south to Boston.

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FreightCar America, Inc has reported second quarter 2010 revenues of $31.0 million and a net loss of $1.3 million, or 11 cents a share. This compares with revenues of $104.3 million and net income of $7.0 million, or 59 cents per a share, in second quarter 2009.

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Connecticut Gov. M. Jodi Rell announced that the state will exercise an option under a purchase agreement with Kawasaki to acquire 80 additional M-8 railcars valued at $226 million for the Metro-North and Shore Line East commuter fleets.

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The Surface Transportation Board announced that it will establish the Toxic by Inhalation Hazard (TIH) Common Carrier Transportation Advisory Committee to provide the Board with  guidance on the obligation of railroads to move TIH cargo. STB said the committee "will specifically focus on the amount of economic responsibility for liability that railroads can reasonably ask TIH shippers to assume before the carrier will transport the cargo."

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Portec Rail Products, Inc., had unaudited net income of $864,000 or $0.09 per share for the three months ended June 30, 2010, and $1,321,000 or $0.14 per share for the six months ended June 30, 2010. Results for the three and six months ended June 30, 2010 include charges of $0.23 and $0.33 per share for expenses related to the proposed merger with L.B. Foster Company, which was announced on February 17, 2010.

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Amtrak may advertise its speedy Acela trains as the "civilized commute," but NJ Transit has a comfy ride that isn't as pricey and is more historic, the Asbury Park Press reports.

 

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