Breaking News

STB Approves CPKC Voting Trust (UPDATED)

The Surface Transportation Board on May 6 approved, by unanimous vote, a voting trust for Canadian Pacific’s proposed merger with Kansas City Southern. “The Board finds that formal Board review of the voting trust agreement proposed for use in connection with this transaction is warranted and determines that the proposed arrangement is acceptable with certain modifications,” STB wrote in Docket No. FD 36500.

Opinion

STB Action Creates More Equitable Demurrage Approach

Picture a customer who receives a hefty invoice from an auto repair shop with several additional charges and no details regarding the nature of these fees. The customer is left facing the question of whether to dispute the bill, and if so, how. Such has been the experience of U.S. rail shippers in recent decades when receiving invoices from the railroads for demurrage charges, which are applied by railroads for costs incurred when shipments are held up beyond a reasonable time.