Author: William C. Vantuono

With Railway Age since 1992, William C. Vantuono has broadened and deepened the magazine's coverage of the technological revolution that is so swiftly changing the industry. He has also strengthened Railway Age’s leadership position in industry affairs with the conferences he conducts, among them Next-Generation Train Control, Light Rail, and Rail Insights. He is the author or co-author or editor of several books, among them All About Railroading; John Armstrong’s The Railroad: What It Is, What It Does; Railway Age’s Comprehensive Railroad Dictionary; and Planning, Engineering, and Operating Light Rail, With Applications in New Jersey.

RSI: Three New Board Members; Brewin Appointed to RSAC

The Railway Supply Institute has elected Tricia Charles, Jeff Lytle and Harrison Wadsworth to its board of directors for three-year terms beginning Jan. 1, 2021. As well, RSI Vice President Government and Public Affairs Nicole Brewin was appointed to the Federal Railroad Administration Rail Safety Advisory Committee (RSAC).

Cowen 3Q2020 Surveys: 2021 Railcar Recovery, Shipper Pricing Expectations Higher

According to two third-quarter 2020 surveys conducted by Cowen and Company analysts Jason Seidl, Matt Elkott and Adam Kramer, freight car order expectations by the shipper sub-group of railcar buyers have risen, “reflecting a net incremental positive for demand”; and rail shippers expect rail price increases of 3.1%, up 80bps sequentially, as “economic expectations increased sequentially and many are now in line with the survey’s averages, if not higher.”

CP: 100% Stake In Detroit River Rail Tunnel

Canadian Pacific and OMERS, the defined benefit pension plan for municipal employees in the province of Ontario, have entered into a purchase agreement whereby CP will acquire full ownership of the Detroit River Rail Tunnel from certain affiliates of OMERS. The purchase price for the transaction, currently expected to close at the end of 4Q2020, is approximately US$312 million and remains subject to customary closing conditions, including regulatory approvals.

KCS 3Q2020 ‘Demonstrates Resiliency’ (UPDATED)

Kansas City Southern, the first Class I railroad out of the earnings report gate, took a revenue hit based on a carloadings drop, yet managed to post a 58.8% quarterly operating ratio. KCS also will initiate a $500 million share repurchase program on Oct. 16.

Freight Traffic Rises as Staggers Turns 40. Serendipity?

On the day marking the 40th anniversary of the Staggers Rail Act being signed into law, the Association of American Railroads (AAR) was able to report, for the first time in recent memory, that U.S. rail traffic registered a weekly gain, as intermodal growth offset a carload decline by a wide margin.

Staggers at 40: A Rail Market ‘Allowed to Work Where Competition Exists’ (UPDATED)

Forty years ago today (Oct. 14, 1980), President Jimmy Carter signed the Staggers Rail Act into law. The landmark legislation partially deregulated the U.S. rail industry, and created “today’s nimble, resilient rail network … built upon a rock-solid foundation,” noted Association of American Railroads President and CEO Ian Jefferies. It enabled railroads to enter into contracts with shippers and set rates without Interstate Commerce Commission approval.

Cowen Pre-3Q20: ‘Fine-Tuning Rail Estimates’

Class I third-quarter earnings are coming up, and Cowen and Company analysts Jason Seidl (Managing Director and Railway Age Wall Street Contributing Editor), Matt Elkott and Adam Kramer are fine-tuning their models “to reflect carloads in the quarter, mix, fuel, and other adjustments.” 3Q20 “saw a divergence between carload and intermodal traffic, with the latter driven by pent-up demand and tightness in the trucking market.”