The Association of American Railroads and GoRail have presented House of Representatives Majority Whip Rep. James E. Clyburn (D-S.C.) the Railroad Achievement Award “for his longstanding leadership on surface transportation issues, including matters that directly and indirectly affect both freight and passenger railroads in South Carolina and across the nation.” AAR President and CEO Ian Jefferies presented Rep. Clyburn with the award at the North Charleston Intermodal Transportation Center.
Switching & Terminal
2019 will be remembered as the year of Precision Scheduled Railroading (PSR) and for the great traffic drought in North American railroading. PSR has indeed helped deliver the eye-popping levels of operating ratios (OR) that rail executives could once only dream about, and many of the Class I’s set record ORs throughout the year.
Railway Age is now accepting entries for its annual Short Line and Regional Railroads of the Year competition. Class II and III railroads are invited to submit entries describing outstanding achievement in one or a combination of areas.
Two experienced railroad professionals—Sarah Yurasko and Eileen Reilly—have joined the American Short Line and Regional Railroad Association (ASLRRA) in legal and technology consulting roles, respectively. Yurasko is the Association’s new General Counsel, replacing Keith Borman, who retired after 15 years. Reilly’s company, Global Train Services LLC, has signed on as a consultant for Positive Train Control services.
Genesee & Wyoming Inc. (G&W) U.K. subsidiaries Freightliner and Pentalver have selected Tideworks Technology® Inc. (Tideworks) for their rail and container network terminal operating system (TOS). Freightliner and Pentalver are the U.K.’s largest intermodal rail freight provider and leading container logistics supplier, respectively.
Freight rail traffic has historically been a useful gauge of broader economic activity. The fundamentals of a strong U.S. economy were present in 2019: solid job numbers, strong consumer spending, low interest rates, economic expansion and low inflation. But despite all the bright spots, one thing remained certain last year: trade policy created uncertainty. This uncertainty affected multiple sectors of the economy.
Strategic Rail Finance (SRF) principals Michael Sussman, John Elliott and Cliff Bassman assumed new roles starting in 2020.
Wabtec Corp. has acquired RELCO Locomotives for $29 million, on a cash- and debt-free basis. All conditions for the acquisition are complete and the transaction will be accretive in year one. RELCO’s projected sales for 2019 are roughly $50 million.
INTERNATIONAL RAILWAY JOURNAL, JANUARY 2020 ISSUE: A stagnant North America freight market is set to continue in 2020. However, technological advances and potential growth in intermodal and heavy-haul offer Class I railroads room for optimism.
Progress Rail has sold its Progress Rail Equipment Leasing (PRELC) subsidiary to affiliates of Paceline Equity Partners, a Dallas-based private equity manager.