Rail Industry News
CN earnings slip in 2Q 2016 as shipments decline
(Source: Reuters, July 25, 2016) TORONTO — Canadian National Railway Co reported slightly lower second quarter earnings on Monday as a decline in shipments cut into revenue, but said it expects volumes to improve in the months ahead. Full story: Reuters
CN reports 2Q 2016 net income of C$858 million
(Source: CN press release, July 25, 2016) MONTREAL — CN today reported its financial and operating results for the second quarter and six-month period ended June 30, 2016. Second-quarter 2016 financial highlights: • Net income was C$858 million, compared with net...
Two Amtrak workers charged in overtime fraud scheme
(Source: Associated Press, July 19, 2016) NEWARK, N.J. — Two Amtrak workers were charged Tuesday with overbilling the company for more than 900 overtime hours they didn't work. Full story: Post-Bulletin
Safety regulators get public ready for higher train speeds in Illinois
(Source: Associated Press, July 24, 2016) SPRINGFIELD, Ill. — Safety regulators have started warning motorists of faster trains along a high-speed rail corridor in Illinois months before Amtrak service at up to 110 mph is set to begin. Full story: The Olympian
Editorial: A happy landing for CSX hub in Rocky Mount
(Source: Editorial in The News & Observer, July 20, 2016) RALEIGH, N.C. — The location of a CSX container hub, the Carolina Connector, in Rocky Mount means 149 more jobs for an area of North Carolina desperately in need of them. The hub will route freight aboard...
This spot in Chicago is the epitome of a $100 billion problem facing America
(Source: Business Insider, July 21, 2016) CHICAGO — A freight train more than 10,000 feet long, hauling hundreds of shipping containers, sits idle in residential Chicago. It's the middle of the afternoon, and the CSX train is just parked there. Waiting. Full story:...
Lawmakers push TSA to strengthen Amtrak passenger security
(Source: The Hill, July 20, 2016) WASHINGTON, D.C. — A pair of House lawmakers is backing a bill that would prod the Transportation Security Administration (TSA) into implementing all the requirements of a decade-old law aimed at addressing terror threats on Amtrak....
Mosier groundwater contaminated after UP oil train derailment
(Source: Oregon Public Broadcasting, July 21, 2016) MOSIER, Ore. — When a Union Pacific oil train derailed and burst into fire in Mosier, Oregon, in June, the initial damage was in plain view, as dark smoke billowed into the sky. Now OPB has learned about invisible...
Spokane proposes fining railroads for all oil cars passing through city
(Source: Bismarck Tribune, July 21, 2016) SPOKANE, Wash. — A proposal by the city of Spokane, Wash., that would fine rail companies for cars carrying crude oil sets a “dangerous precedent” of targeting specific commodities that move by rail, according to BNSF Railway....
California to levy fee on rail cars carrying dangerous chemicals
(Source: Associated Press, July 22, 2016) SACRAMENTO, Calif. — California plans to levy a $45 fee later this year on rail cars carrying dangerous chemicals across the state. Full story: Albany Times Union
CP reaches agreement with future CEO, Keith Creel; retains services of Hunter Harrison beyond retirement
(Source: Canadian Pacific Railway press release, July 20, 2016) CALGARY, Alberta — Canadian Pacific Railway Limited today announced that CP's Board of Directors has reached an agreement with CP's next chief executive officer, Keith Creel. Currently president and chief...
UP CEO says 2016 freight volumes could drop 6-8 percent
(Source: Reuters, July 21, 2016) NEW YORK — Full-year 2016 freight volumes at Union Pacific Corp could fall between 6 percent and 8 percent from 2015, driven by declining coal volumes, weak shale oil business and the strong U.S. dollar, the company's top executive...
CP reports 2Q 2016 diluted earnings per share of $2.15
(Source: Canadian Pacific Railway press release, July 20, 2016) CALGARY, Alberta — Canadian Pacific Railway Limited today announced second-quarter reported diluted earnings per share (EPS) of $2.15, or $2.05 on an adjusted diluted EPS basis, and an operating ratio of...
UP reports 2Q 2016 results
(Source: Union Pacific press release, July 21, 2016) OMAHA, Neb. — Union Pacific Corporation today reported 2016 second quarter net income of nearly $1.0 billion, or $1.17 per diluted share compared to about $1.2 billion, or $1.38 per diluted share, in the second...
Teamsters accuse International Paper of anti-family policies
(Source: International Brotherhood of Teamsters press release, July 18, 2016) COLUMBUS, Ohio — Over 130 members of Teamsters Local 284 have been on strike for more than two months against the giant multinational corporation, International Paper (NYSE: IP). Workers’...
American gas will be first to pass through expanded Panama Canal
(Source: Bloomberg, July 18, 2016) NEW YORK — The first cargo of liquefied natural gas set to pass through the newly expanded Panama Canal locks will be American. Full story: Bloomberg
New CSX hub may soon open near Rocky Mount
(Source: Rocky Mount Telegram, July 19, 2016) ROCKY MOUNT, N.C. — A multimillion-dollar freight train hub may be just around the bend for the Twin Counties. Full story: Rocky Mount Telegram
Minnesota Gov. Dayton announces new council on freight rail
(Source: Progressive Railroading, July 18, 2016) Minnesota Gov. Mark Dayton late last week established the Governor's Council on Freight Rail, a public-private working group of state officials and railroads to improve communication, safety and economic development in...
Maintenance train derailment throws LIRR into chaos
(Source: New York Post, July 18, 2016) NEW YORK — The July 18 morning commute on the Long Island Rail Road was a mess Monday after a work car train derailed in Queens, resulting in the cancellation or diversion of some westbound trains. Full story: New York Post
Do the oil and railroad lobbies have too much influence on oil train regulations?
(Source: Think Progress, July 13, 2016) WASHINGTON, D.C. — In early June, a Union Pacific train carrying Bakken crude oil derailed outside the small Oregon town of Mosier. It was a relatively calm day in the otherwise windy Columbia River Gorge, which prevented the...
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