News

Marion Industrial Center: An Exceptional Investment Opportunity

Marion, Ohio, located in the north-central area of the state, is home to the Marion Industrial Center, a versatile facility ideally suited for owner/operators and investors in Intermodal, Transloading, 3PL (third-party logistics), Automobile Storage and Distribution, and industrial real estate development. Privately owned and operated since 1975, the Center is now available for sale to “owners and operators of logistics and transportation businesses who can utilize it to gain strategic advantage and enhance their overall operations,” according to Cushman & Wakefield’s Managing Director, Whitney Kerr, Jr.

Mexican SAT Action Rather Ambiguous

In a July 19 press release, the Government of Mexico, through the Ministries of Energy, Finance and the Tax Administration Service (SAT), made public a list of active and suspended taxpayers on its Importers’ Registry, indicating that the suspensions were made due to several taxpayers apparently not being in full compliance with requirements under its Foreign Trade Rules. Among them were Kansas City Southern de México (KCSM) and Grupo Mexico’s Ferrosur rail freight subsidiary.

The CDOT’s plan includes 21 goals, 84 strategies and hundreds of benchmarks laid out in one- and three-year increments to “chart a course toward building safer streets; reprioritizing transportation projects to increase access to opportunities for residents in historically neglected neighborhoods; and working with CTA and regional transit agencies to expand public transportation access,” among other measures.

Transit Briefs: Chicago DOT, FTA

The Chicago (Ill.) Department of Transportation (CDOT) has released a strategic transportation plan that it’s calling “the nation’s first” urban plan developed in the wake of the pandemic, economic and racial justice crises of 2020. Also, the Federal Transit Administration (FTA) is now accepting applications for its Outstanding Achievement Award for Excellence in Environmental Document Preparation.

STB Chairman Oberman’s information request to the Class I chief executives is “designed to help the Board better understand the magnitude of container congestion, the purpose and effect of storage fees, and whether receivers are afforded relief when they lack the ability to facilitate the release of their containers.”

STB to Class I’s: Terminal Congestion, Demurrage Data, Please

Surface Transportation Board (STB) Chairman Martin J. Oberman has called on the CEOs of the seven North American Class I’s to provide information on the extent of congestion at key U.S. container terminals and on their policies and practices for assessing container demurrage fees, citing reports of “substantial charges being levied by the railroads for container storage at these terminals.”

CSX 2Q21: ‘Solid Beat’

CSX in second-quarter 2021 reported an exceptionally low operating ratio (OR) of 43.4%, along with significant increases in earnings and revenue. The OR calculation included a credit against expenses resulting from the sale of certain property rights on CSX-owned line segments to the Commonwealth of Virginia for passenger rail operations. Adjusted to exclude the real estate transaction, the OR is 55.1%, still exceptionally low.

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