ATLANTA – Norfolk Southern has pruned its intermodal network and made the operating ratio a key component of its executive compensation plans, the railroad announced yesterday amid its proxy battle with activist investor Ancora Holdings. NS has eliminated 53 low-volume intermodal lanes — or 15% of its intermodal network — that had limited growth prospects. […]
Class I railroads can continue business as usual and watch their earnings stagnate and profitability fall as their freight volume declines through 2030. Or they can make meaningful service improvements, become easier for customers to deal with, and launch new intermodal services that capture freight from trucks. Adopting a successful growth strategy will boost revenue, […]
CAPE BRETON, Nova Scotia — The government of Nova Scotia has ended a subsidy for a dormant section of short line in the province because it sees no chance the line will be restored to operation any time soon, the CBC reports. The move regarding the Cape Breton & Central Nova Scotia Railway comes after […]
LYNNWOOD, Wash. — Sound Transit’s next addition to its light rail system — the Lynnwood Link extension of Line 1 — will debut on Aug. 30, the agency announced Thursday. The 8.5-mile addition into Snohomish County will add four stations to the north of the current endpoint of Line 1 at Seattle’s Northgate station. In […]
WASHINGTON — The Federal Transit Administration on Thursday announced $20.5 billion in federal funding will be available in fiscal 2024 for transit projects. Funding can be used to modernize, maintain, and operate transit systems; upgrade station, track, and maintenance facilities; plan and design new corridors; and prvide access for seniors and riders with disabilities. State-by-state […]
CSX CEO Joe Hinrichs today released the first photos of the railroad’s Western Maryland heritage locomotive. The unit, No. 1852 in honor of the Western Maryland’s founding year, was rolled out of the paint shop in Waycross, Ga., and into the sun. It includes the railroad’s fireball logo. “Here is the latest Heritage Locomotive from […]
LITTLE ROCK, Ark. — A vast majority of Norfolk Southern customers believe an activist investor’s plans for the railroad would worsen service and prompt them to shift some of their freight to truck or rival CSX, according to a Stephens, Inc. shipper survey released today. The Arkansas-based investment bank found that 91% of shippers believe […]
INDIANAPOLIS — Michael D. Engel and Larry F. Kaelin, who played key roles in the success of the Indiana Rail Road during their tenure as executives, have retired, the railroad has announced. Both men retired as of March 31. Engel held the position of senior vice president and chief financial officer; Kaelin was vice president, […]
NEW YORK — Eight men from the Bronx have been charged with involvement in a two-year string of beer thefts targeting rail yards and warehouses in the Northeastern U.S.. The thefts netted hundreds of thousands of dollars of beer; those involved face charges carrying maximum penalties ranging from five years to life in prison, according […]
CHICAGO — With spring having arrived, at least according to the calendar, commuter operator Metra on Wednesday outlined plans for capital projects planned for the 2024 construction season. The Metra budget calls for $332.4 million in projects this fiscal year, including $140.7 million for bridge projects; $81.6 million for station and parking improvements; $66.2 million […]
WASHINGTON — U.S. rail traffic was up 4.2% in March compared to the same month in 2023, the second straight month of year-over-year gains, according to statistics from the Association of American Railroads. Traffic for the week ending March 30 was also up, the 10th straight week showing gains compared to a year ago. The […]
ST. LOUIS – Intramotev, which is converting standard freight cars into autonomous rail vehicles, says it has successfully deployed the world’s first self-propelled battery-electric railcar in a traditional freight train. In what Intramotev called a major step forward for sustainable freight transportation, the company’s ReVolt hopper has run more than 1,000 miles making trips between […]
