(Source: Associated Press, October 17, 2013)
OMAHA, Neb. — CSX Corp. remains optimistic the railroad’s profits will improve over the next two years even though coal demand has remained stubbornly weak.
Officials at the Jacksonville, Fla.-based railroad said Wednesday that shipments of intermodal containers and merchandise will continue to be a larger part of their business.
But CSX will have to continue grappling with diminished demand for coal, which once accounted for nearly 30 percent of its business. All the major freight railroads have been struggling with weak coal demand over the past two years as cheap natural gas prices prompted many utilities to switch fuels.
Full story: The Herald Dispatch