Posts published in “Day: January 23, 2018”
Dec 22 (Reuters) - Canadian National Railway Co said on Friday it will buy 200 locomotives in the next three years from General Electric Co, betting on higher demand for crude oil transportation. The move comes as oil and gas producers in Canada's energy-rich Alberta province clamor to get their barrels to market via rail…
(Adds Thune asking Senate to confirm Batory) WASHINGTON, Dec 21 (Reuters) - As investigators sift through the wreckage of this week's Amtrak train crash in Washington state, critics have begun questioning President Donald Trump's recent efforts to roll back or delay finalizing U.S. rail safety regulations. Making American railroads safer drew renewed attention after the…
HOUSTON, Jan 4 (Reuters) - Canadian crude shipments to the United States by rail could rise more than 60 percent this year on demand by Gulf Coast refiners for the heavy crudes and the wide differential between Canadian grades and the U.S. benchmark. The rail shipments could reach as much as 350,000 barrels per day…
(Adds details from letter, background) WASHINGTON, Jan 2 (Reuters) - U.S. Transportation Secretary Elaine Chao urged the nation's railroads and transit agencies to take all possible measures to meet deadlines to install a safety system called positive train control (PTC) to prevent crashes. Letters dated Dec. 27, which were made public on Tuesday, said Chao…
OMAHA, Neb. (AP) — CSX Corp. reported Tuesday that its fourth-quarter profit grew 25 percent as it further cut expenses, and on top of it the railroad booked a $3.6 billion benefit from the corporate tax cut Congress approved last year. The Jacksonville, Florida-based railroad said Tuesday that if the tax cut benefit is included,…
(Adds details from the conference call, updates shares) Jan 16 (Reuters) - CSX Corp reported a bigger-than-expected drop in fourth-quarter revenue on Tuesday as the third-largest U.S. railroad lost some business due to service issues caused by former chief executive Hunter Harrison's turnaround plan. Harrison, a veteran railroader cherished by investors for leading turnarounds of…
(Adds defense lawyer saying jury at an impasse in second paragraph, adds context) MONTREAL, Jan 16 (Reuters) - A Canadian judge on Tuesday told jurors to continue deliberations, despite their difficulty in reaching a verdict in the joint trial of three former rail employees in the 2013 Lac Megantic train derailment that killed 47 in…
(Adds executive remarks from conference call) Jan 18 (Reuters) - Canadian Pacific Railway Ltd said on Thursday it is weighing strategic deals to boost crude-by-rail shipments in 2018, after reporting fourth-quarter profit that beat analysts' estimates. Canada's second-largest railway said it expects revenue growth in the mid single digits this year, boosted by strong global…
LOMBARD, Ill., Jan 17 (Reuters) - Major U.S. railroads on Wednesday warned President Donald Trump of the potential financial and political consequences of scrapping the North American Free Trade Agreement and urged U.S., Mexican, and Canadian officials to find ways to modernize the accord. Trump has threatened to withdraw from the agreement, which is heavily…