Norfolk Southern (NS) in second-quarter 2021 delivered “another solid performance of sequential operating ratio improvement,” Chairman, President and CEO James A. Squires said July 28 during an earnings announcement. Revenue and volume rebounded from last year, he reported, up 34% and 25%, respectively.
The Science Based Targets Initiative (SBTi) has approved Norfolk Southern’s greenhouse gas (GHG) emissions reduction target, which aligns with the Paris Agreement on climate change.
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 and Norfolk Southern (NS) are calling on the Surface Transportation Board (STB) to deny “as moot” Amtrak’s renewed request for an interim order requiring the Class I railroads to provide track access between New Orleans and Mobile so Amtrak can prepare for proposed Gulf Coast service.
Amtrak on July 8 said it will renew its request that the Surface Transportation Board (STB) intervene on its behalf if CSX and Norfolk Southern (NS) don’t cooperate on hosting new passenger service between New Orleans and Mobile.
![Watco will receive proceeds from a new Series E perpetual preferred equity security, allowing the transportation company to “refinance part of its capital structure, while also providing additional capital to support [its] ongoing customer growth initiatives and fund future acquisition opportunities.”](https://www.railwayage.com/wp-content/uploads/2021/07/WatcoForbes-2-300x169.jpg)
Pittsburg, Kans.-based Watco—an owner and operator of short lines, terminals, ports and mechanical shops—has entered into a strategic equity relationship with a global investment management firm.
At Cowen and Company, we are adjusting our rail models in advance of second-quarter earnings reports due later this month from the Class I railroads. The models reflect carloads in the quarter, mix, fuel, FX (foreign exchange) and cost implications as the supply chain remains tight.
The U.S. Department of Transportation has chosen 24 projects—seven rail/port specific—to receive $905.25 million in INFRA (Infrastructure for Rebuilding America) grants.
The Request for Proposal (RFP) process is now under way for program management/program controls services for the development of Port of New Orleans’ (Port NOLA) Louisiana International Terminal.
Norfolk Southern (NS) has presented its 2020 Thoroughbred Chemical Safety Award to 43 customers for safely handling products regulated as hazardous materials.
