Canadian Pacific reports that it has broken all-time records for grain shipments, moving 2.64 million metric tonnes (MMT) of Canadian grain and grain products in October, the railroad’s biggest month ever for this commodity. The previous record was set in September 2017. CP also set a new record for biofuel shipments.
BNSF Railway issued its annual Corporate Responsibility and Sustainability Report highlighting progress on key initiatives in the areas of sustaining its operations, creating value for its customers, engaging with employees and connecting with communities.
Vertex Railcar Corp., the start-up builder in Wilmington, N.C., is expected to cease operations by the end of this year, according to a published report.
U.S.-based railcar builder The Greenbrier Cos. further extended its global footprint with an agreement for rail projects and freight cars in Saudi Arabia.
Even in this new world order, when profoundly held beliefs are cast aside according to the whims of political weather, the Oct. 24 call by the Canadian oil lobby for a government takeover of crude by rail (CBR) is a stunning abandonment of principle.
An estimated 64,000 DOT117J (new) and DOT117R (retrofit) tank cars will be produced over the 2019-2022 time frame as confidence grows in a tank car demand resurgence, according to Cowen and Company analyst Matt Elkott.
Amid a surging market for new railcars, American Railcar Industries agreed to sell itself back to a group led by its former founder and CEO at a premium more than 50% above its share price.
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.”
A fleet of new centerbeam cars are being deployed by CN, with patented energy management technology designed to reduce train separations in transit.
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.”