All 1,475 workers at National Steel Car, Hamilton, Ont. who belong to Local 7135 of the United Steelworkers Union (USW) have returned to work following a strike that lasted 41 days. Workers ratified
National Steel Car
Railcar production at National Steel Car, Hamilton, Ont., has been shut down since June 29 when 1,450 employees belonging to United Steelworkers Local 7135 walked off the job when contract negotiations stalled.
Richardson International Limited (Richardson) and Canadian Pacific Kansas City (CPKC) announced June 26 that the agribusiness plans to expand eight CPKC-served elevators in Western Canada, allowing future trains to be moved from
FINANCIAL EDGE, RAILWAY AGE APRIL 2023 ISSUE: In its 37th iteration, Tony Kruglinski’s Rail Equipment Finance Conference (REF) once again took place at the oasis in the desert: The LaQuinta Resort and
Train consist makeup, not defective wheelsets, apparently caused the March 4, 2023 derailment of a Norfolk Southern train in Springfield, Ohio. The Association of American Railroads (AAR) on April 14 cancelled EI
Counting on Rail Congestion as a Rail Equipment Demand Driver is Not a Sustainable Long-Term Strategy
Our July 12 rail equipment expert call takeaways are consistent with J.B. Hunt Transport’s (JBHT) recent comments on about sub-optimal 2Q22 rail service (below). This solidifies our expectation of an eighth consecutive lease rate improvement for GATX, which reports on July 21. We continue to favor the shares into the print as detailed in our July 7 machinery and transportation OEM preview, “Revisions Into the Print.”
According to Cowen and Company’s recently conducted second-quarter 2022 Rail Equipment and Rail Shipper Surveys, the outlook for railcar orders is positive, and rail shipping rates will continue to increase. Details follow, plus insights on the Class I railroads, ahead of earnings.
CN reported May 7 it will purchase 1,000 high-capacity hopper cars from TrinityRail, a move that follows 14 consecutive months of record grain hauls as demand continues to grow in Canada and abroad.
EagleRail Container Logistics will launch later this year an automated, overhead container transfer system for ports and intermodal operations; National Steel Car has temporarily suspended manufacturing after employees tested positive for COVID-19; work is under way for Alstom’s railcar facility expansion in Hornell, N.Y.; and Retlif Testing Laboratories has completed a yearlong cybersecurity compliance project for increased protection of rail and transit product testing.
Canadian Pacific moved more Canadian grain and grain products in November 2019 than any month in its history, delivering 2.74 MMT (million metric tons) and eclipsing its previous 2.66 MMT all-time record, set in October 2019.