The Association of American Railroads (AAR) reported U.S. rail traffic for the week ended July 25, 2020, and, for this week, total U.S. weekly rail traffic was 481,331 carloads and intermodal units, down 9.9% compared with the same week last year.
A Union Pacific train derailed early in the morning of July 29 on the south end of the railroad’s 108-year-old Salt River Bridge over Tempe Town Lake, Ariz. Up to 10 cars derailed, causing a section of the bridge to collapse. Several cars caught fire.
“A resuscitation of a long-futile push for railcar scrappage tax subsidies may be under way. While the effort is in its infancy, and the outcome remains speculative, we see success as less of a long shot than it has been at any time in the past. This would be positive for railcar suppliers, including Trinity and Greenbrier, and metals companies such as Schnitzer Steel, Commercial Metals Company, Nucor Corporation and Steel Dynamics.”
Progress Rail, a Caterpillar company, has developed a new battery-powered switcher locomotive, the EMD® Joule, working in collaboration with its South American customer Vale. Progress Rail anticipates global availability of the new switcher locomotive in early 2021.
The Association of American Railroads (AAR) has named Corey Davis of CSX Transportation the recipient of the 2020 John H. Chafee Environmental Excellence Award, which recognizes a railroad employee who has demonstrated the highest level of environmental stewardship and sustainability in the previous year.
PTSI Transportation recently enhanced its Compendium of Commuter Rail Fares (CRF), mainly a notification to subscribers of any significant fare changes as soon as PTSI hears of them.
Tealinc, Ltd. recently hired Yvonne Lufborough as Manager Value Creation – Finance & Administration (MVCFA). Lufborough will be based in Tealinc’s Miles City, Mont., office and will assume daily responsibilities of the current CFO, Tammy Luther, who will remain CFO at Tealinc.
New York’s Metropolitan Transportation Authority (MTA) Board recently awarded a $233 million contract to Wabtec for 25 electric-diesel hybrid locomotives for use on NYC Transit work trains as part of the agency’s “ongoing efforts to improve environmental sustainability and health and safety for employees and customers.”
Union Pacific (UP), the fifth Class I to report second-quarter 2020 financials, was hit hard, like most of its peers. Net income of $1.1 billion, or $1.67 per diluted share, was 41% lower than the $1.6 billion, or $2.22 per diluted share, reported in 2Q19.
Trinity Industries, Inc. announced financial and operating results for second-quarter 2020, and, like many in the industry, it navigated “significant headwinds related to the COVID-19 pandemic and economic fallout”—to the tune of a $206.9 million loss. Quarterly total company revenues of $509 million and quarterly loss from continuing operations per common diluted share (EPS) of $1.76 and quarterly adjusted EPS of $0.02.