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%.
Author: Andrew Corselli
Canadian Pacific Railway (CP) recently announced that Edward R. Hamberger and Andrea Robertson have been appointed to its Board of Directors.
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.
Engineering firm HDR, Inc. recently announced that Doug Morrison has joined the company as Freight Technology Leader.
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).
Chicago South Shore & South Bend Railroad’s (CSS) Transportation Department announced that its employees have achieved five straight years of injury-free performance.
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.
The Federal Transit Administration (FTA) recently announced a total of $300 million in federal funding—provided via its Capital Investment Grants (CIG) Program—allocations to three transit projects in Arizona, California and Washington.
Though still very early, it appears that July is no salvation for rail freight traffic’s June swoon.
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.