The Association of American Railroads (AAR) reported U.S. rail traffic for the week ended March 28, 2020, as well as volumes for March 2020, and noted that COVID-19 has certainly taken its toll on the industry.
Author: Andrew Corselli
OmniTRAX, an affiliate of The Broe Group, launched its new Rail-Ready Sites program. This program, designed to bring together rail-served sites and customers in need of development properties, kicks off with 10 Rail-Ready Sites along the New Jersey division of the Winchester and Western Railroad (WW).
ClearBlade and NimbeLink Corp. announced a secure and scalable IoT edge solution aimed at simplifying the process required to track, monitor and alert assets rapidly.
The Coronavirus Aid, Relief and Economic Security (CARES) Act, signed into law by President Trump on March 27, boosts unemployment and sickness benefits for railroad workers impacted by the pandemic.
Citing “increased macroeconomic uncertainty and corporate debt in focus across various sectors,” Cowen and Company recently delved into current debt levels at major railroad and trucking firms, and discussed actions these companies could take to combat the difficult times.
Duos Technologies Group, Inc. reported financial results for the fourth quarter and full year ended Dec. 31, 2019. In doing so it noted that its total revenue increased 125% to $5.75 million, compared to $2.56 million in the same quarterly period, and its gross profit increased 176% to $3.15 million (55% of total revenue) compared to $1.14 million (45% of total revenue) in the same quarterly period last year.
Stonepeak Infrastructure Partners has completed the previously announced transaction to acquire TRAC Intermodal and its subsidiaries from investment funds managed by an affiliate of Fortress Investment Group LLC on March 27, 2020.
The joint venture of STV, AECOM, Morrison Hershfield and McMillen Jabobs Associates, of Ottawa, has earned a National Recognition Award for exemplary engineering achievement in the American Council of Engineering Companies’ (ACEC) 53rd annual Engineering Excellence Awards (EEA) for designing Stage 1 of the OCTranspo Confederation Line.
Trinity Industries, Inc. realigned responsibilities for some of its most senior executives, effective April 1, 2020. Specifically, Eric R. Marchetto has been appointed Chief Financial Officer, and W. Relle Howard, currently Vice President and Chief Administrative Officer, will return to his previous role as Chief Information Officer.
The Association of American Railroads (AAR) released U.S. rail traffic for the week ended March 21, 2020, and it contained some much-needed good news: The worst of the coronavirus’ effects on Asian trade may be over.