STB extends TTX pooling authority

TTX Co. said the Surface Transportation Board has approved a five-year extension of TTX's pooling authority governing all types of flatcars, including those that handle intermodal traffic, finished automobiles, and specialized flatcars for lumber, heavy equipment, and other commodities.

The new 15-year term began Oct. 1, 2014, when STB made its decision public in Docket Number FD_27590_4. Chicago-based TTX announced the decision on Oct. 2.

“The Board’s decision is an unambiguous affirmation of the value of the flatcar pool to the railroad industry and to the shipping public. We are pleased that the Board expressed its confidence in TTX and its operations and look forward to the next 15 years,” said TTX President and CEO Tom Wells.

In its decision, STB said, “TTX has adapted and consistently produced significant benefits to railroads and shippers that could not have been achieved as easily, if at all, in the absence of the TTX flatcar pool.” STB also said more than 80 interested parties, including the “Department of Defense, shippers, ports, car parts suppliers, car manufacturers and others,” expressed support for the extension of TTX’s pooling authority.

STB listed numerous benefits of the pool, including promotion of research and development in new equipment, cost control as a result of standardized repair and maintenance, capital savings through more efficient use, and the increased responsiveness of the rail industry to the dynamic changes in the North American railroad network.