Salco, Baier Rail Sign Distribution Agreement
Salco Products is now the exclusive distributor of the Single-Bolt Manway rail tank car system from Baier™ Rail, a division of Baier Marine Co., Inc.
Freight
Greenbrier FY4Q20: ‘Solid Results’
Greenbrier’s fiscal fourth-quarter 2020 financial results (the company begins its fiscal year on Oct. 1 of the prior year) are based on a “strong liquidity position,” and a $2.4 billion railcar backlog of 24,600 as of Aug. 31, which includes fourth-quarter orders of 2,800 cars valued at approximately $250 million.
Are We Genuflecting Too Much to Wall Street?
The six Class I railroads that practice the marketing-term model called Precision Scheduled Railroading (PSR)—all of the “Big 7” except BNSF—are now reporting third-quarter financial results in the remaining days of October. There is, however, an opportunity for a more holistic quarterly briefing. There is an argument for a new checklist of service metrics that would be of interest mostly to customers and, perhaps, public policy groups. However, instead of a balanced scorecard from the carriers, we are mostly seeing accounting reports that cater exclusively to analysts.
Monitoring North America’s Rail Pulse
Norfolk Southern, Genesee & Wyoming, Watco Companies, GATX Corp. and TrinityRail are developing a telematics platform for railcars to provide real-time car location and condition/health monitoring data. Called “Rail Pulse,” it will help shippers, car owners/lessors and railroads better manage consists, incidents and maintenance. Rollout is expected by year-end 2022.
UP: ‘3Q Misses as 4Q Momentum Builds’
Union Pacific has reported third-quarter 2020 financial and operating results that “represent another step in our company’s transformation,” Chairman, President and CEO Lance Fritz said, emphasizing the positive aspects of what was largely a difficult quarter.
FTS Launching Battery-Operated Spike Driver
Focused Technology Solutions (FTS) will introduce the SpikeForce, a battery-operated spike driver that complements its popular SpikeEase spike puller, in mid-November.
FreightCar America Acquires Final Stake in Castaños Operation
FreightCar America now owns 100% of Castaños Mexico, where all of its future railcar manufacturing is expected to be based by February 2021. It has completed the acquisition of the remaining 50% of its joint-venture partnership with Fasemex (Fabricaciones y Servicios de México).
Senate Commerce Gets An Earful of Rail
The U.S. Senate Committee on Commerce, Science, and Transportation on Oct. 21 convened a hearing on the state of the U.S. passenger and freight rail network. Railroad, shipping and union representatives provided testimony, which included the impacts of COVID-19, legislative considerations for surface transportation reauthorization, and Amtrak’s ongoing struggles. Senator Roger Wicker (R-Miss.) is Chair of the Committee. Following are highlights from the presenters, with downloadable PDFs of their full written testimony.
Trinity 3Q20: ‘Mixed Results, But More Positive Signs Emerge’
Trinity Industries, Inc. has reported financial and operating results for third-quarter 2020 that reflect “solid execution against numerous headwinds, including competitive pricing, declining deliveries, and difficult decisions in rightsizing our operations,” CEO and President Jean Savage said.
TRRA ASLRRA Veterans Engagement Honoree
The American Short Line Regional Railroad Association (ASLRRA) has selected the Terminal Railroad Association of St. Louis (TRRA) as its 2020 Veterans Engagement Award winner for “focused and sustained efforts to recruiting veterans for employment, and for the railroad’s efforts beyond their workforce in supporting U.S. Veterans and their families in their community.”