Nearly one year after his death at 73, the legendary Hunter Harrison’s quest to improve CSX’s performance through Precision Scheduled Railroading (PSR) appears to be in full swing. CSX’s 3Q18 net earnings of $894 million, or $1.05 per share, vs. $459 million, or $0.51 per share in the same period last year, is a 106% increase. CSX’s operating ratio set a company third-quarter record of 58.7%, compared with 68.4% in the prior year—a 970 basis point improvement.
Commodity and intermodal rail traffic continued to finished in positive territory for the latest week, but at a much slower pace than earlier in the year.
With rail as a central piece, the Port of New Orleans saw its development plans honored as it transforms the busiest U.S. Gulf maritime gateway.
The Port of Long Beach, the largest U.S. intermodal import gateway, set an all-time record for container volume in fiscal 2018.
Construction of a replacement for a century-old bridge on the Everett-Seattle mainline is expected to cost BNSF about $200 million.
Cowen and Company’s 3Q18 rail shipper survey says that shippers are anticipating price increases of 3.7% over the next 6-12 months, down from 4.7% in 2Q18, but in line with the survey’s long-term average, according to Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl.
A pair of Texas ports will benefit from federal economic aid aimed at bolstering recovery following Hurricane Harvey.
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.”
An all-new battery-powered electric locomotive highlights a list of low-emissions projects to be implemented by BNSF in Central California.
U.S. rail traffic for the week ending Oct. 6, 2018, at 554,238 carloads and intermodal units, rose slightly—1.2 %—compared with the same week in 2017, the Association of American Railroads (AAR) reported Oct. 10.