The derailment of two separate oil trains roughly two months apart near Guernsey, Sask., each spilling more than 300,000 gallons of crude onto the ground and one igniting into a smoldering inferno, plus the resulting 30-day mandatory speed limit on such trains imposed by Transport Canada (20 mph in urban areas, 25 mph elsewhere), have raised questions about not only the cause of those derailments, but also about the durability of the tank cars, and the volatility of the crude they were carrying. It should also raise questions, and awareness, about the transport of Canadian crude on the U.S. rail system.
Navis, a part of Cargotec Corporation, has entered into an agreement to acquire the assets of Biarri Rail, a global provider of planning and scheduling optimization software for freight railroads. The acquisition is expected to be completed by the end of February 2020.
Trinity Industries, Inc. released its 4Q19 and full-year 2019 earnings, which show it saw quarterly total company revenues of $850.7 million, reflecting growth of 15.7% year-over-year, but also quarterly earnings from continuing operations per common diluted share (EPS) of $.18, a yearly decrease of 5%.
Norfolk Southern is closing its historic, 137-year-old Locomotive Shop in Roanoke, Va., transferring all locomotive work to its Juniata Shops in Altoona, Pa. NS predecessor railroad Norfolk & Western began operating the locomotive shop, then Roanoke Machine Works, in 1883. The railroad is also closing its associated Roanoke Distribution Center, which supports the shop as well as other mechanical department facilities across its system.
Tealinc, Ltd. is now accepting applications for the 2020 scholarship program, which will award two $1,000 scholarships to the best qualified candidates.
TNW Corporation (TNW), a Dallas-based privately held operator of short line railroads and transportation logistics services, has acquired a multi-commodity bulk material handling and storage facility located in Harwood, Texas.
Cowen and Company revealed its rail-earnings takeaways, which saw the rails tout pricing despite weak volumes in 4Q. However, Cowen said it believes “that the effects of the Coronavirus on supply chains are not fully appreciated, with contacts telling us that Asian ports are at 40-50% operational capacity—railroad most at risk is Union Pacific. CN’s network is nearly shut down because of pipeline protesters and could lag the group near-term. We continue to favor Kansas City Southern among the rails.”
Cowen and Company released its quick take on Wabtec’s earnings update, and noted the company has “fairly solid guidance for what could be a tough earnings year.”
Alstom has signed a memorandum of understanding (MOU) with Bombardier and pension fund Caisse de Dépôt et Placement du Québec (CDPQ) to acquire Bombardier Transportation, ending weeks of speculation about a proposed tie up between the two railway equipment manufacturers.
The Alaska Railroad (ARRC) is promoting Sean Mesloh to Chief Mechanical Officer, effective March 1. The current CMO is 36-year railroad veteran Don Freestone, who retires February 28.