AllTranstek expands services

AllTranstek L.L.C. has added Tax & Audit Services to its fleet management offerings, and has named industry veteran John Hoyt as Manager of the newly created service. The company said it created the new service “to respond to the growing demand for assistance in the highly specialized areas of monitoring tax code changes, ad valorem tax compliance and assessment reviews.”

Railcar market recovery remains intact: Cowen

Cowen and Company’s 3Q18 rail equipment survey indicates that the railcar market recovery remains intact, even though the survey’s results were “somewhat mixed,” according to analyst Matt Elkott. The percentage of shippers planning to order railcars “inched up very slightly, while order sizes decreased a bit. We expect strong 3Q18 orders, driven partly by crude tank car and intermodal equipment demand.”

CIT sells European rail unit

CIT Group Inc. has completed the sale of NACCO, its European rail leasing business, in two separate transactions: to German-based VTG Aktiengesellschaft (VTG), and to a consortium of WASCOSA AG and a subsidiary of Aves One AG. Net proceeds were $1.1 billion, based on current exchange rates, and included approximately $1.2 billion in assets, which resulted in a modest pre-tax gain, CIT said.

GE, Roy Hill “in the pink”

GE Transportation has joined with Roy Hill, Australia’s single-largest iron ore mine, and Hancock Prospecting to support breast cancer treatment and research with two new ES44ACi locomotives and 130 China Railway Rolling Stock Corporation (CRRC)-built ore cars painted in a bright pink livery. The equipment, unveiled during an event at Roy Hill’s Port Hedland rail terminal, joins Roy Hill’s existing fleet of 21 GE-powered unit trains.

Rail supply industry contributed $74.2B to GDP

A new report from Oxford Economics has found that the railway supply industry’s total contribution to U.S. gross domestic product (GDP) in 2017 was $74.2 billion, which highlights the industry’s significant economic impact, said industry stakeholders.

Introducing www.railwaywomen.org

The League of Railway Women (LRW) has launched its new website, www.railwaywomen.org, commensurate with it official name change from the “League of Railway Industry Women.”

Cowen: Railcars “robust,” locos “rebounding”

Inquiries and orders for new railcars remain robust, with strength in tank cars, intermodal equipment, box cars and steel gondolas, and the locomotive new-build market appears set for a gradual rebound, report Cowen and Co. Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl, and Cowen Vice President Matt Elkott from the firm’s annual Transportation Conference. “This reinforces our confidence in our 3Q18 forecast of 20,500 units in industry orders,” they said. CBR (crude by rail) could enjoy relative strength through 2022. We continue to favor Wabtec, Trinity, Greenbrier, and ARI.”

Tank railcar market continues to evolve

Financial Edge, September 2018: According to the good people at Railinc (a perennial speaker at the annual Rail Equipment Finance Conference, www.railequipmentfinance.com), as of July 1, 2018, 12,581 tank railcars had been retrofit to the DOT117R standard. In the first seven months of 2018, 5,349 tank railcars were retrofit (an average of 764 per month). If retrofits continue at the same pace for the remainder of the year, the total number of retrofit cars completed in 2018 would be more than double the total number of retrofits completed by the end of 2017.

Greenbrier names Tekorius COO

The Greenbrier Cos. Inc. Executive Vice President and Chief Financial Officer Lorie Tekorius has been appointed EVP and Chief Operating Officer, a newly created position with expanded responsibilities, reporting to Chairman, President and CEO William A. Furman.

GBW Railcar Services uncouples

The Greenbrier Cos. Inc. and Watco Cos. LLC have agreed to discontinue their GBW Railcar Services (GBW) railcar repair joint venture, formed in 2014 by combining their shops into a nationwide network of railcar repair facilities. Under the agreement, the repair shops and employees at each location will return to management by their previous operators.

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