WASHINGTON — Amtrak’s 826-page petition to the Surface Transportation Board, filed last week, is the latest salvo in efforts to establish passenger trains on routes of railroads not currently hosting service. The STB’s eventual decision could have a significant impact on what investment is required for service expansion. The filing argues Amtrak has made good […]
Transport Canada has ordered Canadian Pacific to stop leaving trains unattended without setting handbrakes near the site of 2019’s fatal runaway accident on Kicking Horse Pass after a February incident, the CBC reports, but the railroad is disputing the regulator’s assertion that the event in question constituted “an immediate threat.” In question is a Feb. […]
The Canadian Pacific acquisition of Kansas City Southern should help the railroads develop new business — including diverting truck traffic to rail — but the $29 billion deal announced on Sunday could face regulatory hurdles and opposition from shippers and other Class I systems. CP and KCS executives touted the potential for traffic growth that would […]
CALGARY, Alberta — Canadian Pacific and Kansas City Southern executives say combining their railroads into the first system linking Canada, the U.S., and Mexico will generate significant traffic growth across all commodities. “What a historic day,” CP CEO Keith Creel said during a Sunday afternoon investor webcast where executives touted the $29 billion deal to create […]
CALGARY, Alberta — Canadian Pacific’s proposed acquisition of Kansas City Southern will unite the two smallest Class I railroads and create the only North American system that will operate in the U.S., Canada, and Mexico. The combination of the 12,500-mile CP and 6,700-mile KCS, announced today, is a classic end-to-end merger: The railways currently interchange in […]
CALGARY — On the same day that Canadian Pacific revealed its plan to purchase Kansas City Southern, the company’s board of directors has announced it has amended its contract with President and CEO Keith Creel to keep him in his current position until at least early 2026. The amendment addresses incentive compensation, the company says. […]
CALGARY — Canadian Pacific will buy Kansas City Southern in a cash and stock transaction worth approximately $29 billion, CP has confirmed. Financial Times first reported the story Saturday night. In an announcement posted Sunday morning, CP said the deal has the approval of both boards of directors, and confirms the previously reported price valuing […]
WASHINGTON — CSX Transportation has defended its proposed acquisition of New England regional Pan Am Railways. Vermont Rail System, along with transportation officials from Vermont and Massachusetts, claim the deal would harm rail competition in the region and should face a more thorough review from the Surface Transportation Board. Massachusetts officials and lawmakers also expressed […]
A 70-car Denver & Rio Grande Western narrow-gauge freight train drops down famous Tanglefoot Curve, just east of Cumbres, Colo., in June 1960. Since 1960, Cumbres & Toltec tourist trains have plied this landmark. Robert F. Collins […]
WASHINGTON — The Massachusetts Department of Transportation and Massachusetts Bay Transportation Authority have told federal regulators that they oppose CSX Transportation’s proposed acquisition of New England regional Pan Am Railways. In a filing with the Surface Transportation Board this week, state officials claim the transaction will harm rail competition, potentially hinder commuter rail operations, and […]
SACRAMENTO, Calif. — The effort to develop alternative-fuel locomotives continues to gain momentum. The California Energy Commission has awarded Sierra Northern Railway and research and development firm GTI almost $4 million to fund design, development, and demonstration of a hydrogen fuel cell-powered switching locomotive. The funds will retire a Tier 0 diesel and replace it […]
If you believe that railroads have sacrificed volume growth on the altar of the Cult of the Operating Ratio, then here’s some good news: A Wall Street analyst says major investors are growing weary of cost-cutting and want to see railroads attract more traffic. Credit Suisse analyst Allison Landry says some institutional investors are […]
