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Daily Headlines
AAR: Railroads report 1 percent decline in combined traffic compared to 2014 for week ending January 17
(Source: Association of American Railroads press release, January 21, 2015) WASHINGTON, D.C. — The Association of American Railroads (AAR) today reported U.S. rail traffic for the week ending Jan. 17, 2015. Total cumulative U.S. weekly rail traffic for the week was...
Canadian Pacific sticks to 2018 profit goal amid crude oil rout
(Source: Bloomberg, January 22, 2015) NEW YORK — Canadian Pacific Railway Ltd. (CP) is sticking by the company’s four-year forecast calling for profit to double by 2018, even if crude prices remain at historically low levels, Chief Executive Officer Hunter Harrison...
Cuomo: Raise oil train charges
(Source: Albany Times Union, January 22, 2015) ALBANY, N.Y. — Gov. Andrew Cuomo wants to collect more cash from companies that ship oil from the Midwest in massive trains that pass through the Capital Region and other parts of the state. Full story: Albany Times...
Shuster: ‘Common ground’ exists on infrastructure legislation
(Source: Progressive Railroading, January 22, 2015) In response to President Barack Obama's State of the Union speech on Tuesday in which he called for a bipartisan plan to fix the nation's infrastructure, House Transportation and Infrastructure Committee Chairman...
Rail tank car orders threatened by U.S. crude’s collapse
(Source: Bloomberg, January 23, 2015) NEW YORK — Add tank-car makers to the list of U.S. industries bracing for the effects from the plunge in crude prices. Full story: Bloomberg
CP Rail slashes oil volume forecast as crude shipments slow
(Source: Globe and Mail, January 22, 2015) TORONTO — Canadian Pacific Railway Ltd. has slashed its forecast for crude-by-rail volumes amid the rout in oil prices that prompted drillers to cut budgets and production. Full story: Globe and Mail
Union Pacific 4Q 2014 coal revenues up 9 percent on utility demand
(Source: Platts, January 22, 2015) HOUSTON — Union Pacific's coal freight revenues grew 9% year on year to $1.1 billion in the fourth quarter as low coal inventories and normal weather conditions helped deliveries out of the Southern Powder River Basin, the company...
Union Pacific profit jumps 22 percent, but delays still a concern
(Source: Omaha World-Herald, January 22, 2015) OMAHA, Neb. — Shares of Union Pacific Corp. rose as much as 5.7 percent during intraday trading Thursday, as the company reported fourth-quarter profit that surged 22 percent on higher shipments of beer, lumber, coal and...
Kansas City Southern reports record fourth quarter and full year 2014 results
(Source: Kansas City Southern press release, January 23, 2015) KANSAS CITY, Mo. — Kansas City Southern (KCS) (NYSE:KSU) reported record fourth quarter 2014 revenues of $643 million. Overall, carload volumes were 5% higher than in fourth quarter 2013. Fourth Quarter...
CN rejects TCRC’s request for longer conciliation with locomotive engineers
(Source: Canadian Press, January 21, 2015) MONTREAL — Conciliation between Canadian National Railway and its locomotive engineers is set to expire a midnight Saturday night after the union says the railway rejected its request for a 60-day extension. As a result, the...
