Latest News Continued
The U.S. Department of Transportation on Oct. 20 announced the recipients of $600 million in TIGER II Discretionary Grants, of which rail-related projects received $289 million. “This is excellent news for the rail construction industry,” said National Railroad Construction and Maint ...

Jim Young, Union Pacific chairman and chief executive officer, said Thursday that “strong volume growth, pricing gains, and operating efficiency” combined to produce 2010 third-quarter net income of $778 million, or $1.56 per diluted share, beating Wall Street estimates, compared with $514 million, or $1.01 per diluted share, in third-quarter 2009. Operating revenue grew 20% to $4.4 billion versus $3.7 billion in the third quarter of 2009.

up_logo.jpg

Union Pacific’s operating ratio was a best-ever 68.2%, 5.6 points better than third-quarter 2009 and 1.2 points better than the previous record.

Other quarterly records were set as diluted earnings per share rose 54% to $1.56 and operating income increased 46% to $1.4 billion.

jim-young_up.jpg

Third-quarter revenue carloads grew 14% versus 2009 levels as all six business groups reported volume growth. Operating revenue increased 20% to $4.4 billion versus $3.7 billion in third-quarter 2009.

“As the economy continues to recover, we stand ready tosafely and reliably haul more freight,” said Young (pictured at right). “Longer term, we believe Union Pacific is positioned to provide strong value for our customers and shareholders, as the long-standing need for freight rail transportation in our nation provides us with a stable foundation as well as a platform for future growth.”

--> Jim Young, Union Pacific chairman and chief executive officer, said Thursday that “strong volume growth, pricing gains, and operating efficiency” combined to produce 2010 third-quarter net income of $778 million, or $1.56 per dilute ...

Both U.S. carload freight volume and U.S. intermodal traffic continued to gain over 2009 levels in the week ending October 16 over the comparable week in 2009, the Association of American Railroads said Thursday.

aar_logo.jpg

U.S. carload freight volume rose 10.1%, with 14 of the 19 carload commodity groups registering gains. Metallic ores again notched the most significant gain, up 183.2%. Other commodities gaining included stone, clay, and glass products, up 32%, crushed stone, sand, and gravel, up 30.9%, and grain, up 20.1%. Non-metallic minerals led the decliners, down 25.9%.

U.S. intermodal traffic advanced 15.1% for the week, with container volume up 15.8% and trailer volume up 11.1%.

Canadian freight carload traffic rose 12.3% from last year, while Canadian intermodal rose 16%. Mexican carload freight volume gained 16.8% from the same week last year, while intermodal rose 14.2%.

Combined North American rail volume for the first 41 weeks of 2010 on 13 reporting U.S., Canadian, and Mexican railroads was up 9.8% over the comparable 2009 period, while intermodal was up 15.1%.

--> Both U.S. carload freight volume and U.S. intermodal traffic continued to gain over 2009 levels in the week ending October 16 over the comparable week in 2009, the Association of American Railroads said Thursday. ...
In recent years, the freight railroads’ perspective on hosting passenger trains on their lines has been leaning toward the favorable. Led by CEOs like David Goode of Norfolk Southern (now retired) and Matt Rose of BNSF, they’ve become cognizant of the benefits that could accrue to the ...
Houston-based U.S. Development Group will celebrate the opening of its St. James Rail Terminal, in the St. James, La., crude/condensate logistics hub, on Oct. 21. The terminal, which gives the St. James crude market a rail connection, is the first in a planned nationwide network of rail terminals f ...
The American Public Transportation Association has adopted a comprehensive set of “Principles for a Legislative Framework” for what it and many other rail industry advocates believe should be a stable, regular source of federal funds for high speed and intercity passenger rail (“HS ...

Class I railroad employment reached 154,094 in mid-September, up3.12% from September 2009 and  0.91% from August 2010. Train crew employment (transportation, train and engine) continued to set the pace, rising to 61,444, an  increase of 8.57% from last year and 1.79% from the prior month.

--> ...
Construction Polymers Technologies, Inc. has been named as the new North American licensee of the LVT (Low Vibration Track slab track system from Sonneville AG (formerly Sonneville International Corp.). Sonneville entered into a partnership with Construction Polymers Technologies in August to ma ...

MTA Long Island Rail Road will cut over to a new centralized signal and switching control system at Jamaica, N.Y., during the  October 23-24 and November 6-7 weekends in the final, $56-million stage of a modernization project. The switchover brings a new meaning to the familiar cry, "Change at Jamaica," a station that is the hub of all operations on  North America's longest (700 miles) and busiest (300,000 weekday rides) commuter railroad.

 

--> ...

Electro-Motive Diesel,Inc., announced Oct. 20 that it has has signed a contract to supply six SD70ACSheavy-haul AC diesel-electric locomotives to a mining railway in Mauritania,Societe Nationale Industrielle et Miniere. (SNIM).  This will bring the number of EMD locomotives operating inMauritania to 44.

--> ...
436
Page 436 of 626