CSX delivered a terrific second quarter; although revenue decreased 12% due to freight volumes dropping, CSX still managed to crush analyst expectations of $0.44 with a $0.47 EPS. This beat, can be attributed to management,s operational efficiency efforts and reducing costs where the company could. CSX focused on what it could do in times of turmoil….
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On July 9, 2016, FECR celebrated with its partners the arrival of MOL Majesty, the first “neo-panamax” vessel to cross the expanded Panama Canal bound for PortMiami. The MOL Majesty is part of the G6 Alliance Transpacific PA2 service, originating in Asia. FECR re-established on-dock intermodal rail service at PortMiami, allowing import and export…
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A century after transforming global trade and markets, the Panama Canal is about to revamp world trade once again. On June 26 the canal is scheduled to reopen after a massive project costing more than $5 billion that will allow bigger ships to pass through the 102-year-old waterway, doubling cargo capacity. U.S.-based businesses are recognizing…
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The fate of BNSF Railway Co.’s new terminal near the Port of Los Angeles is now in jeopardy even though it has been in development for 10 years at a cost of more than $50 million and would provide badly needed rail capacity. In March, a judge halted the railroad’s plans, ruling its environmental review…
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North American rail freight traffic remains in the doldrums, the Association of American Railroads reported for the week ending May 21, 2016. Total U.S. weekly rail traffic was 506,983 carloads and intermodal units, down 8.5% compared with the same week last year. Total carloads for the week ending May 21 were 244,290 carloads, down…
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Total carloads for the week ending April 23 were 230,599 carloads, down 17.1% compared with the same week in 2015, while U.S. weekly intermodal volume was 261,347 containers and trailers, down 6.3% compared to 2015. Three of the 10 carload commodity groups posted an increase compared with the same week in 2015. They…
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