Rail News Home Federal Legislation & Regulation 4/23/2018 Rail News: Federal Legislation & Regulation USDOT creates BUILD grants to replace TIGER program The deadline for BUILD grant applications is July 19. Photo – USDOT The U.S. Department of Transportation (USDOT) on Friday announced a new infrastructure project funding program that will supplant the popular Transportation…
Posts published in April 2018
(Adds information on operating expense, carloads, background on CP's performance, estimates) April 23 (Reuters) - Canadian National Railway Co reported a 16.2 percent fall in first-quarter profit on Monday as operating expenses shot up and the railroad company cut its 2018 earnings outlook. The company said it now expects 2018 adjusted earnings C$5.10 to C$5.25,…
(Adds comments from CEO, company spokesman, analyst) April 23 (Reuters) - Canadian National Railway Co on Monday posted a 16.2 percent fall in quarterly profit as operating expenses shot up during the harsh winter, and the country's largest railroad cut its 2018 outlook as capacity limits strained its ability to meet high demand. The backlog…
General Electric Co. is in talks to sell its locomotive business to rail equipment manufacturer Wabtec Corp., Bloomberg reported late last week.GE is considering combining the GE Transportation business with Wabtec, which has a market valuation of $8 billion, Bloomberg reported citing people familiar with the matter. Bloomberg did not identify the individuals because the…
Rail News Home Federal Legislation & Regulation 4/20/2018 Rail News: Federal Legislation & Regulation DART seeks public input on Cotton Belt DEIS Starting today, the draft environmental impact statement (DEIS) for the Cotton Belt corridor regional rail project in North Texas is now available for a 45-day public review and comment period, Dallas Area Rapid…
(Adds details on rising costs) April 20 (Reuters) - Kansas City Southern, a regional U.S. railroad with extensive operations in Mexico, reported lower-than expected quarterly revenue on Friday despite a 1 percent overall increase in rail volumes. The Kansas City, Missouri-based company said its revenue gains in consumer goods, automotive and petroleum products were partially…
(Adds analyst comment, reaction from crude oil companies) MONTREAL/VANCOUVER April 20 (Reuters) - Canada's biggest rail union said no progress had been made in negotiations on Friday with Canadian Pacific Railway Ltd to reach a deal before a Saturday deadline as worries about a potential strike weighed on the country's crude oil prices. If the…
The passenger railroad is looking for a firm to build 32 bi-directional trainsets. Photo – VIA Rail Canda Inc. VIA Rail Canada Inc. has issued a request for qualifications (RFQ) for a supplier to replace its fleet that operates along the Quebec-Windsor corridor.The passenger railroad is looking for a firm to build 32 bi-directional trainsets…
CN will acquire 350 boxcars to serve an increase in demand from industrial customers across the Class I's North American network.Equipped with 12-foot plug doors, the leased, 50-foot, high-capacity plate F boxcars are expected to be delivered beginning in late summer with all the cars in service by the end of the year, CN officials…
CSX easily topped Wall Street forecasts for first-quarter profit. The No. 3 U.S. railroad operator benefited from a cut-throat efficiency and cost-cutting drive The results sent its shares 5 percent higher on Tuesday. Jodi Gralnick | CNBC A shipping container is loaded onto a flatbed at the CSX Intermodal Terminal in North Baltimore, Ohio. CSX…