Independent freight railroad and rail services holding company RailUSA, LLC recently acquired a 430-mile rail line and related real estate from CSX Corporation (CSX). Financial terms of the deal were not disclosed.
CSX has appointed Farrukh A. Bezar as Senior Vice President and Chief Strategy Officer. He will lead the development of strategic initiatives that support CSX’s “intensified focus on growth and adding value for its customers and shareholders,” the company said. Bezar’s appointment is effective May 29. He will report to CSX President and CEO Jim Foote.
Representatives from the N.C. Department of Transportation (NCDOT), CSX Corp. and the Carolinas Gateway Partnership recently held a groundbreaking ceremony for the Carolina Connector (CCX) intermodal transportation facility.
The Association of American Railroads (AAR) has named CSX Transportation’s Gary Van Tassel II the 2019 John H. Chafee Environmental Excellence Award winner.
CSX Corp. announced on April 16 that its first-quarter 2019 net earnings reached $834 million, or $1.02 per share, against $695 million ($.78 per share) year-over-year—an earnings per share increase of 31%.
Planning annual curve rail replacement programs is an essential element of maintenance planning on Class I railroads. Every railroad does it, with varying degrees of automation in the planning office and verification in the field.
CSX Corp. on Jan. 16 announced 4Q2018 net earnings of $843 million, or $1.01 per share, vs. $4.14 billion, or $4.62 per share on a GAAP basis ($0.64 on an adjusted basis) in the same period last year. That’s about $.02 per a share better than what analysts expected. Of particular note is that the railroad’s full-year 2018 operating ratio dropped to 60.3%, a U.S. Class I record.
CSX is expected to benefit from the latest South Carolina transportation infrastructure project aimed at moving state agriculture products to inland destinations.
The U.S. Class I railroads started the New Year in impressive fashion, as freight and intermodal traffic notched solid gains for the week ending January 5.
The Port of New York and New Jersey opened a major new expansion of its rail network, capping a five-year plan to expand capacity for cargo destined for outside the region.