Tag: Class I railroads

STB asks Class I railroads to explain ‘substantial’ demurrage fees

By Edwin Lopez for supplychaindrive.com Dive Brief: The Surface Transportation Board on Friday sent a letter to the CEOs of seven Class I railroads asking them to explain their demurrage policies amid reports of congestion and “sizeable storage fees.” “I am particularly troubled about reports that Class I railroads are continuing to impose these charges […]

Wall Street is boosting profits in railroads with new technology. But it’s ignoring the drawbacks

Freight rail doesn’t function without a strong workforce. BY PETER DEFAZIO for fortune.com In a commentary published in Fortuneearlier this month, Ike Brannon and Michael F. Gorman took great liberties in trying to debunk my concerns with precision scheduled railroading (PSR). Please allow me to set the record straight. I have served on the U.S. […]

Railroad industry worried about Biden executive order

By Ted O’Neil | The Center Square contributor for themercury.com (The Center Square) – An executive order signed by President Joe Biden that could force railroads to allow other operators to use their tracks could reduce competition and increase costs, according to industry experts. Biden’s order last week in part called on the independent Surface […]

US rail traffic jumps 25% year-over-year but is flat from prior week

Investors will be watching rail volumes trends and whether Class I railroads can meet financial targets for 2021 and 2022, Wall Street analyst says By Joanna Marsh for freightwaves.com Weekly U.S. rail volumes rose nearly 25% last week, although some commodities may be affected by uneven year-over-year comparisons because the start of the COVID-19 pandemic […]

Next-Gen Freight Rail Sets Agenda for the 2020s

Written by David Nahass, Financial Editor for railwayage.com FINANCIAL EDGE, RAILWAY AGE APRIL 2021 ISSUE: The tone and context of Railway Age’s Next-Gen Freight Rail conference held virtually on March 10, 2021 changes rapidly when viewed through the blockbuster announcement of Canadian Pacific’s (CP) acquisition of Kansas City Southern (KCS). One can only wonder what messages Creel and […]

Class I employment grew a bit in February

Published by progressiverailroading.com U.S. Class Is employed 114,068 people in mid-February, up 0.53% from mid-January but down 10.63% compared with employment during the same period a year ago, according to Surface Transportation Board data. Four of six employment categories registered employment increases in February compared with January’s level. They were: maintenance of way and structures, up 1.19% […]

Class I railroads outline 2021 projections, February weather impacts

Rising fuel prices could eventually help with truck conversions By Joanna Marsh for freightwaves.com All of the publicly traded Class I railroads presented at investment bank JP Morgan’s industrial conference last week. Here are some themes expressed through the multiday event: Weather dents February’s rail volumes and could impact first-quarter results When the Class I […]

U.S. freight railroads log carload, intermodal growth in Week 10

Article published by progressiverailroading.com Total U.S. freight-rail traffic rose 12.5% to 520,736 carloads and intermodal units during the week ending March 13 compared with the same week a year ago, according to Association of American Railroads (AAR) data. U.S. railroads logged a total of 230,684 carloads, a 2.1% increase, and intermodal volume of 290,052 containers […]

Railroad Day on Capitol Hill Is On, Virtually

Written by Marybeth Luczak, Executive Editor for railwayage.com While the goal of educating Congressional members on industry issues is the same, Railroad Day on Capitol Hill meetings will be spread over two days and held via Zoom, due to the pandemic. With transportation issues at the forefront of the 117th Congress, the meetings will lay the groundwork for working collaboratively […]

US Class I rail headcount sinks to near decade low

Employment number lowest since January 2012 By Joanna Marsh for freightwaves.com The number of employees working for the U.S. operations of the Class I railroads in January fell to its lowest level in years, according to data received by the Surface Transportation Board. U.S. Class I railroad operations had 113,461 employees working in their ranks in […]

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August 2021