BNSF Railway will pay nearly $1 million to settle a federal lawsuit over damages to a national park following a 2011 derailment in Montana.
BNSF Railway realized significant gains in operating income and revenue in this year’s second quarter and first half, attributable to volume increases in most commodities, tight truck capacity leading to highway-to-rail conversions, pricing and other factors.
The Port of Vancouver USA dedicated a $251 million project designed to ease rail congestion and improve efficiency at the Washington state gateway.
Industry watchers greeted the news of the recent BNSF derailment in Doon, Iowa, as typical ho-hum news. 32 tank railcars hauling crude derailed on a stretch of track that had been compromised by floodwaters. Several of the cars were ruptured and there was a crude spill. Emergency services (BNSF and others) were able to contain the size of the spill, and residents of the area were evacuated as a precaution. Luckily for all parties involved, there was no conflagration whatsoever as a result of the derailment.
Rail freight, including commodity and intermodal volumes, continued steady upward movement in the latest weekly data check.
A move by a major western Class I railroad to restrict certain tank cars could pinch available capacity as shippers ramp up crude oil volumes.
A ceremonial groundbreaking was held July 16 for a $72.9 million grade separation project in Moorhead, Minn. It is the largest transportation project in the city’s history.
Rail traffic moved smartly ahead the first week of July as shippers secured orders before President Trump’s tariffs take full effect.
The results of Cowen and Company’s 2Q18 Rail Shipper Survey “are positive for the railroads,” according to Managing Director and Railway Age Wall Street Contributing Editor Jason Seidl. With anticipated rate increases of 4.7% over the next 6-12 months, up from 3.8% in Cowen’s 1Q18 survey—the second-highest sequential increase in this survey’s history—market share “is moving from the highway to the rails and may pick up in the second half of the year if rail service improves.”
Weekly rail freight traffic continued stronger than a year ago, according to the latest industry data.