Thursday, November 05, 2009

J.B. Hunt, NS agree on plan to bolster intermodal

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J.B. Hunt Transport Services, Inc. announced Thursday that it has reached an agreement with Norfolk Southern Corp. to develop a new intermodal transportation contract to provide both parties a platform to accelerate the conversion of traditional truck traffic to cost-effective, environmentally friendly intermodal transportation with service that is competitive with truckload moves.

"This multi-year agreement,” said the trucking giant, "will further establish the parties as the leading providers oftranscontinental and local intermodal service in the eastern half of the United States."

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“Given the enormous confidence we have in the Norfolk Southern’s ability to provide the best intermodal service in the Eastern half of the U.S. and the obvious commitment NSC has made by the significant investments in their corridor development, we are delighted to have the opportunity to elevate our joint services into the future,” said Kirk Thompson, CEOof JBHT. “This new agreement will provide unparalleled intermodal service and value for U.S. shippers. The conversion of highway freight to the more efficient, cost-effective, safer and more environmentally friendly services that we jointly provide, will not only benefit shippers and the general public, but JBHT and NSC shareholders alike.”

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“Our new services with J.B. Hunt will provide shared incentives to grow volume and revenues by converting substantial volumes of freight from highway to rail,” said Norfolk Southern CEO Wick Moorman. “We look forward to working with the J.B. Hunt team to offer new, high-speed, reliable, premium services to domestic intermodal customers over ourentire network, including our new Crescent Corridor route, from New England, northern New Jersey and Pennsylvania south to Memphis and New Orleans. This strengthened relationship between NSC and JBHT will offer significant benefits to shippers, communities, states, and the country by reducing highway congestion, fuel consumption, and emissions.”