Author: Andrew Corselli

CP 2Q19: “Growth across every line of business”

Canadian Pacific Railway (CP) announced it set record second-quarter revenues of C$1.98 billion, an increase of 13% from last year’s C$1.75 billion, and a second-quarter operating ratio record of 58.4%, a 580 basis point improvement over last year’s second-quarter operating ratio of 64.2%.

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).

Cowen: Shipper surveys say …

Two 2Q19 surveys of rail shippers on pricing/service quality and equipment needs conducted by Cowen and Company analysts Jason Seidl (Managing Director and Railway Age Wall Street Contributing Editor), Matt Elkott and Adam Kramer indicate that, compared to 1Q19, Class I railroad customers are anticipating somewhat lower rate increases, and little change in demand for new railcars.

OLI doles out $175K via 10 grants

As part of its Passenger Rail Safety campaign, Operation Lifesaver, Inc. (OLI) recently awarded $175,000 in grants to 10 rail transit agencies in eight states to increase rail transit safety public awareness and implement safety education projects and campaigns.