Railroad

A subsidiary of short line operator Genesee & Wyoming (G&W) has acquired and will operate a bulk transfer facility serving the Central Valley of California. Ivory Choice Terminal (ICTC), a subsidiary of G&W's contract rail and related services division, has acquired a facility formerly...

The U.S. Department of Transportation (DOT) is supporting efforts to bring Amtrak service to the Gulf Coast, acknowledging the challenges that stakeholders have had in reaching a consensus over infrastructure and operational needs. A Monday letter from DOT, representing the interests of the agency...

Canadian Pacific Railway Ltd (NYSE: CP) and Kansas City Southern (NYSE: KSU) announced on Sunday they would merge in a deal valued at about $29 billion in cash and shares. What Happened: The new company, Canadian Pacific Kansas City, will create a Canada-Mexico-U.S. railroad with a...

The Past Week, In A Nutshell What Happened: Last week ended negative with mega-cap and technology stocks regaining strength into week-end. Remember This: “Markets had embedded substantial optimism in early September, with the valuation of the S&P 500 at the highest level in 20 years and...

Kansas City Southern (NYSE: KSU) stock rose by 5.29% on Wednesday after a report by the Wall Street Journal suggested the company received a second takeover bid. What Happened: The uptick in stock price put the market valuation of KSU around $18.4 billion. Kansas City Southern has a rail...

Net profit for shortline operator Genesee & Wyoming (G&W) slipped in the third quarter amid lower revenues and rail volumes. Third-quarter net income attributable to G&W totaled $66.8 million, or $1.16/diluted share, compared with $69.6 million, or $1.16/diluted share, in the third...

Union Pacific Corporation (NYSE: UNP) reported second-quarter results which turned Raymond James incrementally bullish while Morgan Stanley maintained its bearish stance. The Analysts Raymond James' Patrick Tyler Brown maintains a Strong Buy rating on Union Pacific with a price target lifted...

CSX Corporation (NASDAQ: CSX) said Tuesday afternoon CFO and executive vice president Frank Lonegro will leave the company after 19 years of service. The announcement could be seen as surprising in some ways and in other ways not so, according to Morgan Stanley. The Analyst Morgan Stanley's...

President Donald Trump's executive order allowing liquefied natural gas (LNG) to move by rail could be used to head off attempts to open up domestic vessel shipments to foreign competition, a maritime executive has told FreightWaves. Signed by President Trump on April 10 while he campaigned...

  Canadian National (NYSE: CNI) yesterday unveiled plans to invest US$505 million in capital projects along its U.S. corridor spanning from Wisconsin to Louisiana. In Illinois, CNI plans to spend $190 million, which will include funding to add capacity at its Joliet intermodal terminal. In...

Norfolk Southern Corp. (NYSE: NSC) is starting a three-year sprint to improved profitability through the precision scheduled railroading (PSR) business model that's been embraced by a growing number of Class 1 railroads. The fourth-largest North American railroad by revenue, Norfolk Southern...

The Grain Transport Report, a weekly publication by the Agricultural Marketing Service (a division of the U.S. Department of Agriculture) released information showing that total export inspections for grain (corn, wheat and soybeans) declined 22 percent from the previous week. The report said that...

Union Pacific's new Chief Operating Officer (COO) is getting plaudits from investors who think the new executive will keep the railroad on track to getting leaner. The second-largest rail operator by track mileage named Jim Vena as its new COO effective January 14. Vena, a 40-year executive...