KCS 2Q19: Volume flat, but revenues reach record
Kansas City Southern (KCS) posted record revenues of $714 million, a 5% yearly increase, for 2Q19 despite “flat volumes,” the company reported on July 19.
Breaking News
Road & Rail wins third straight AAR excellence award
Louisville, Ky.-based Road & Rail Services, Inc. was honored, for the third consecutive year, with The Automotive Quality Excellence Award from the Association of American Railroads (AAR).
UP 2Q19: Record-low OR, despite volume, revenue declines
Union Pacific, in the midst of implementing Unified Plan 2020, its version of PSR (Precision Scheduled Railroading), posted a quarterly record-low operating ratio for this year’s second quarter, along with increases in net income, operating income and diluted earnings per share, compared to the prior-year quarter. These improvements came despite decreases in volume and revenue.
July still no salvation for traffic
The Association of American Railroads (AAR) recently reported U.S. rail traffic for the week ended July 13, 2019, and it appears that it’s still “in the doldrums.”
CSX “achieving record levels of efficiency”
CSX Corp. (CSX) today announced a 2Q19 earnings per share increase of 7% on net earnings of $870 million, or $1.08 per share, versus $877 million, or $1.01 per share, in the same period last year. In addition, CSX’s operating ratio set a company second-quarter record of 57.4%, improved from 58.6% the prior year.
Hamberger, Robertson appointed to CP Board
Canadian Pacific Railway (CP) recently announced that Edward R. Hamberger and Andrea Robertson have been appointed to its Board of Directors.
Miner to supply components for 3,800 CP, CN hoppers
Miner Enterprises recently announced that it plans to supply outlet gates and hatch covers for 3,800 new high-capacity grain hopper cars ordered by Canadian Pacific (CP) and Canadian National (CN) railways.
Morrison to serve as HDR freight tech leader
Engineering firm HDR, Inc. recently announced that Doug Morrison has joined the company as Freight Technology Leader.
UP ITR aligned with PSR
Union Pacific (UP) recently announced in a notice to customers that it is updating its current intermodal reservation system—with a projected release next month—to “improve ease of use while also improving reservation utilization through technology and better processes” as the railroad continues its transition to PSR (Precision Scheduled Railroading).
CSS notches five injury-free years
Chicago South Shore & South Bend Railroad’s (CSS) Transportation Department announced that its employees have achieved five straight years of injury-free performance.
Opinion
STB Rate Reform Task Force: A Shippers’ View
On June 20, Dr. William Huneke, the former Director of the Office of Economics at the Surface Transportation Board (STB), offered his observations in Railway Age regarding the recently released Rate Reform Task Force Report. This article offers a view from the shippers’ perspective.
Leasing Market Approaching “New Normal”
FINANCIAL EDGE, JULY 2019: The longstanding and well-regarded Editor-in-Chief of Railway Age, William C. Vantuono, recently had the dubious honor of rescuing the Leasing and Equipment Finance panel at the Rail Insights Conference, held last month at the Union League Club of Chicago.
Are Paper Barriers Ripe for STB Review?
WATCHING WASHINGTON, JULY 2019: If paper smothers rock, scissors cut paper and rock smashes scissors, short line railroads, controlling neither the paper nor rock, face a grim outcome in a quest to “cut up” so-called paper barriers erected by Class I railroads and sanctioned by the Surface Transportation Board (STB).
NJT at 40: People, politics and progress
July 17, 1979 was a momentous day in the annals of U.S. transit history. The New Jersey legislature passed, and Gov. Brendan T. Byrne (1924-2018) signed, the bill that became the Transportation Act of 1979. The legislation established New Jersey Transit (NJT), and in so doing, began the process of consolidating the state’s bus service under a single statewide umbrella. That step was considered radical in its day, but it set a model for bringing public transportation into the public sector, at a time when railroads and bus companies in the private sector were working hard to get rid of it.
White Paper: How Amtrak Can Best-Serve the Nation’s Mobility Needs.
As Amtrak, the National Railroad Passenger Corporation, approaches its golden anniversary in 2021, it is quite apparent that it has squandered opportunities to mature into a stable and useful transportation entity, given the plethora of internal issues that have historically crippled Amtrak operating under the federal umbrella as a state-owned enterprise. Adding to this position is the impact from a shortage of experienced senior management.