CSX 3Q21: Revenue, Volume, Hiring Up (Updated, Cowen, Blaze, STB)
CSX on Oct. 20 reported third-quarter 2021 revenue of $3.29 billion, a 24% boost from the prior-year period, with a 3% increase in volume.
CSX
Industrial Development Briefs
Intermodal service provider Tiger Cool Express will develop a logistics center at the former Union Pacific Cold Connect warehouse in Wallula, Wash. In addition, CSX has designated a third Tennessee property as a CSX Select Site; Bartlett, a Savage Company, will build a $325 million soybean crushing facility in Kansas, to be served by Watco; and the U.S. Economic Development Administration is awarding CARES Act Recovery Assistance grants for the construction of a new industrial rail spur in Arkansas and improvements to the Lubbock Rail Port in Texas.
CSX Earns Award for Emissions Reduction Program
The Center for Climate and Energy Solutions (C2ES) and The Climate Registry have recognized CSX with a 2021 Climate Leadership Award.
CSX, CP Recognize Chemical Shippers for Safety
CSX and Canadian Pacific (CP) are honoring customers for their commitment to the safe transportation of hazardous materials (hazmat).
KCS’ Sameh Fahmy to Step Down
Kansas City Southern (KCS) on Oct. 13 reported that Sameh Fahmy, Executive Vice President Precision Scheduled Railroading (PSR), will leave the company by year-end.
For CSX, New Hazmat Education Train
CSX is expanding hazardous materials safety education across its 23-state network with a Responder Incident Training (RIT) train.
Virginia Expands Amtrak Service
Virginia has expanded daily Amtrak service from Richmond to the Northeast Corridor as part of its $3.7 billion initiative to improve passenger and freight rail capacity and relieve automotive traffic congestion in the commonwealth.
Feud Over Proposal to Regulate Private Railcar Handling
Associations representing private railcar owners are rebutting responses to their request that the Surface Transportation Board institute a rulemaking updating the demurrage and accessorial rules governing the railroads’ use and handling of their equipment.
STB: Five Class I’s Revenue Adequate for 2020
The Surface Transportation Board (STB) has found five of the seven U.S. Class I railroads to be revenue adequate for 2020: BNSF, CSX, Kansas City Southern, Soo Line (the U.S. affiliate of Canadian Pacific) and Union Pacific.
Railroads to STB: Reject Proposal to Regulate Private Railcar Handling
The Association of American Railroads, plus CSX and Union Pacific, are calling on the Surface Transportation Board to deny a Petition for Rulemaking that would update the demurrage and accessorial rules governing the railroads’ use and handling of privately owned freight cars.