Rail Industry News
CN sticks with earnings forecast despite tough market
(Source: Reuters, July 21, 2015) NEW YORK — Canadian National Railway reported stronger than expected second-quarter earnings and said it continues to expect double-digit growth in earnings per share for the full year on Monday, even as shipment volume slipped. Full...
CSX to STB: Railroads are healthy, let’s keep them that way
(Source: Railway Age, July 23, 2015) NEW YORK — Railroads that are revenue adequate and earn their cost of capital should not be punished by capping their shipping rates, which would discourage the substantial and mostly private investment in the nation’s critical...
CP Rail’s new head of corporate governance has faced troubling business allegations for years
(Source: Financial Post, July 23, 2015) OTTAWA — Rebecca MacDonald, who was appointed head of Canadian Pacific Railway Ltd.’s corporate governance committee on Tuesday, has spent years weathering allegations of deceptive sales tactics and questionable accounting...
Most recent oil train accidents involved CPC-1232 tank cars
(Source: DeSmog Blog, July 23, 2015) NEW YORK — Roosevelt County chief deputy sheriff Corey Reum was one of the first responders to the recent Bakken oil train derailment in Montana, a few miles from the North Dakota border. Full story: www.desmogblog.com
AAR: Weekly rail traffic down 2.8 percent from 2014 for week ending July 18
(Source: Association of American Railroads press release, July 22, 2015) WASHINGTON, D.C. — The Association of American Railroads (AAR) today reported U.S. rail traffic for the week ending July 18, 2015. For this week, total U.S. weekly rail traffic was 551,181...
NTSB study: ECP brakes out-perform other systems
(Source: National Transportation Safety Board press release, July 23, 2015) WASHINGTON, D.C. — As part of its ongoing investigation of the derailment of a crude oil unit train in Casselton, North Dakota, today the National Transportation Safety Board produced a Train...
Video: CEO says Union Pacific has furloughed more than 1,200 workers
(Source: Bloomberg, July 23, 2015) NEW YORK — Lance Fritz, chief executive officer of Union Pacific Corp., talks about the recent drop in U.S. coal demand and its impact on the railroad, and Union Pacific's pricing power and ability to control costs. Fritz speaks with...
Senate to debate 3-year delay of Positive Train Control
(Source: New York Times, July 23, 2015) WASHINGTON — Two months after the high-speed derailment of an Amtrak train killed eight people and injured hundreds more in Philadelphia, a Senate transportation bill headed for debate this week calls for a three-year delay of...
BNSF Logistics buys wind turbine transport specialist
(Source: Railway Gazette, July 23, 2015) FORT WORTH, Texas — BNSF Logistics has acquired Transportation Technology Services, a Texas-based company that provides engineering and logistics services for the transport of over-sized loads by rail with a particular focus on...
Oil train inspections reveal 62 defects in New York state
(Source: Associated Press, July 23, 2015) ALBANY, N.Y. — New York officials say another round of inspections of tank cars and tracks carrying crude oil has found 62 defects, including one requiring an immediate fix. Statewide, inspectors report examining 524 tank...
Nebraska will continue to reveal oil train traffic
(Source: Lincoln Journal Star, July 22, 2015) LINCOLN, Neb. — Nebraska will continue to make public information railroads submit on Bakken oil train traffic within its borders after U.S. Department of Transportation warned railroads that they must continue to notify...
Inspectors find dozens of Minnesota rail bridges need repair
(Source: Minnesota Public Radio, July 23, 2015) MINNEAPOLIS, Minn. — More than 330 railroad bridges pass over freeways, highways and streets in Minnesota, and last year state and local inspectors determined that one in five of those was structurally deficient. Full...
CP Rail continues fight against Lac-Megantic fund
(Source: Canadian Press, July 22, 2015) MONTREAL — Canadian Pacific Railway Ltd. has filed for permission to appeal a judge’s ruling in relation to the $430-million settlement fund for victims and creditors of the Lac-Megantic train derailment, according to court...
Texas high-speed rail passes major milestone with first fundraising announcement
(Source: Houston Chronicle, July 22, 2015) HOUSTON — A revolutionary project to connect Dallas and Houston by bullet train just took a major leap forward. Texas Central Partners, which aims to build the nation's first bullet train between Texas' two biggest cities,...
Head of CP Rail shifts focus from work to health
(Source: Globe and Mail, July 22, 2015) TORONTO — Hunter Harrison is slowing down. After eight weeks of struggling with medical complications following surgery on his legs, the legendary workaholic at the helm of Canadian Pacific Railway Ltd. says he plans to cut back...
Federal class action lawsuit filed in CSX oil train derailment in Tennessee
(Source: Knoxville News Sentinel, July 22, 2015) KNOXVILLE, Tenn. — A class-action lawsuit seeking more than $5 million in damages has been filed in federal court on behalf of four Maryville residents who were among the 5,000 people evacuated during the CSX train...
Amtrak wants Acela trains to go faster
(Source: Washington Examiner, July 22, 2015) WASHINGTON, D.C. — Amtrak has petitioned the Federal Railroad Administration to allow it to increase the speed of its Acela trains from 150 mph to 160 mph in three zones along its Northeast corridor — Rhode Island,...
Hoffa: Senate transportation bill is positive step, but safety issues remain
(Source: International Brotherhood of Teamsters press release, July 22, 2015) WASHINGTON, D.C. — Today, the Senate voted to take up a six-year surface transportation reauthorization that will include three years of funding for highway, rail and transit programs. The...
Senate Republicans end bid to pare back oil train safety rule
(Source: Reuters, July 22, 2015) WASHINGTON, D.C. — Senate Republicans have backed away from a controversial proposal that would have repealed a new federal safety rule requiring oil trains to be equipped with advanced new braking systems. Full story: Reuters
UP reports 2Q 2015 financial results
(Source: Union Pacific press release, July 23, 2015) OMAHA, Neb. — Union Pacific Corporation today reported 2015 second quarter net income of $1.2 billion, or $1.38 per diluted share, compared to $1.3 billion, or $1.43 per diluted share, in the second quarter 2014....
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