(The following report appeared on the Richmond Times-Dispatch website on June 10.)
RICHMOND, Va. — CSX Corp. and Norfolk-based Norfolk Southern Corp., the biggest railroads in the Eastern U.S., forecast more shipment growth this year as demand rises to haul cargo such as coal.
CSX Chief Financial Officer Oscar Munoz said traffic may rise 2 percent or 3 percent as the third-largest U.S. railroad improves service. Henry Wolf, finance chief at No. 4 Norfolk Southern, said his company expects shipments to grow faster than the U.S. economy. Neither executive gave financial forecasts, Bloomberg News reported.