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Daily Headlines
Alberta drillers near deals with railroads, potentially easing logjam
(Source: Bloomberg, April 26, 2018) NEW YORK — Alberta’s beleaguered oil industry may get some relief from its persistent shipping bottlenecks in the second half of the year as producers strike deals with rail companies to move more crude. Full story: Bloomberg
Norfolk Southern’s Q1 2018 revenue beats estimates, but still working to fix service
(Source: Reuters, April 25, 2018) WASHINGTON, D.C. — Shares in Norfolk Southern Corp. rose about 5 percent in early trading on Wednesday after the fourth-largest U.S. railroad reported a 27 percent increase in year-over-year quarterly net profit and topped revenue...
FRA concerned MTA commuter lines and NJ Transit will miss PTC deadline
(Source: New York Post, April 25, 2018) NEW YORK — The Federal Railroad Administration is worried that both the MTA and NJ Transit are falling behind on installing life-saving technology and that the agencies will miss the government-set, end-of-year deadline. Full...
Union Pacific reports Q1 2018 results
(Source: Union Pacific press release, April 26, 2018) OMAHA, Neb. — Union Pacific Corporation today reported 2018 first quarter net income of $1.3 billion, or a first-quarter record $1.68 per diluted share. This compares to about $1.1 billion, or $1.32 per diluted...
CN mulls real estate sales to raise cash for network revamp
(Source: Bloomberg, April 24, 2018) NEW YORK — Canadian National Railway Co. will consider selling additional real estate to free up cash that can be plowed back into its network. Full story: Bloomberg
CN tackling capacity issues “with a great sense of urgency”
(Source: Financial Post, April 25, 2018) OTTAWA — Canadian National Railway Co.’s interim chief executive Jean-Jacques Ruest said Tuesday the company is tackling its capacity challenges “with a great sense of urgency,” focusing on building rail infrastructure in...
Facing shipping constraints, Canada moving oil one truckload at a time
(Source: Reuters, April 23, 2018) WINNIPEG, Manitoba — At an Alberta oil loading terminal, a convoy of big rigs are gearing up to haul Canadian crude oil hundreds of miles through bone dry fields across the U.S. border into Montana, where the oil will be transferred...
Teamsters warn FAA amendment could overturn state, local trucking laws
(Source: International Brotherhood of Teamsters press release, April 24, 2018) WASHINGTON, D.C. — The Teamsters are sounding the alarm about a proposed change to the Federal Aviation Administration Authorization Act (FAAAA) that would halt the ability of states and...
Lumber producers express concerns over potential CP Rail strike
(Source: Global News, April 24, 2018) MONTREAL — Alberta’s forestry sector, already facing challenges from softwood tariffs imposed by the United States and the growing threat of the mountain pine beetle, fears a labour disruption at CP Rail could make a tough...
CN’s CEO says it can’t “pick up the slack” if CP workers strike
(Source: Business News Network, April 24, 2018) OTTAWA — The CEO of Canadian National Railway Co. says the country’s largest railroad would not be able to pick up much of the slack if a labour dispute at rival Canadian Pacific Railway leads to a strike. Full story:...
