CSX

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.

CSX Amends, Re-files Pan Am Railways Acquisition Application with STB

On May 26, The Surface Transportation Board rejected as “incomplete” the merger application filed by CSX Transportation, Inc. to acquire control of Pan Am Systems, Inc. and its short line railroad subsidiaries. CSX on July 1 submitted an “amended and supplemented application” to the STB, stating that the refreshed application “provides all of the additional details of the proposed transaction requested by the STB.”