news

Railway Age launches new app for iPhones and iPads

Railway Age, the 157-year-old railway industry trade publication that began life as a printed weekly and now publishes online news and the daily Rail Group News e-newsletter in addition to its print and digital monthly magazine, has just reached the next step in its continuing evolution into the digital age of publishing with a new app for the Apple iPad and iPhone platforms.
Commentary

For whom does the STB bell toll?

With the Obama nomination of Anthony Foxx to become the next transportation secretary, chatter now focuses on the successor to Frank Mulvey at the three-member Surface Transportation Board (STB). 

OLI sets action for Crossing Awareness Day

Operation Lifesaver, Inc. programs and partners across the U.S. will celebrate International Level Crossing Awareness Day (ILCAD) on Tuesday, May 7, with a variety of events to illustrate the importance of safe behavior at grade crossings and around train tracks.

Caltrain Board reviews budget, ridership growth

Caltrain said Thursday its staff offered a preliminary report to the Joint Powers Board indicating the rail service’s Fiscal Year 2014 budget will be balanced, but warning that FY15 could produce a budget shortfall that might trigger fare increases and service cuts.

NY&A nets ASLRRA honors

Among those recognized with various awards April 30 (including Railway Age’s own Short Line Railroad of the Year and Regional Railroad of the Year honors) during the American Short Line and Regional Railroad Association annual meeting in Atlanta, the New York & Atlantic Railway notched both marketing and safety awards from ASLRRA.

FreightCar America notes 1Q earnings loss

FreightCar America, Inc. Wednesday reported a net loss of $2.6 million, or 22 cents per diluted share, in the first quarter of 2013, on revenue of $87.6 million. That compared with first-quarter 2012 earnings of $9.7 million, or 81 cents per diluted share, on revenue of $219.million. Wall Street analysts had anticipated a net profit of six cents per diluted share in the quarter.

GWI marks 1Q earnings, new headquarters

Genesee & Wyoming, Inc. Wednesday reported first-quarter net income of $82.7 million, compared with net income of $22.2 million in the first quarter of 2012. Excluding the impact of certain significant items discussed below, G&W’s adjusted net income in the first quarter of 2013 was $48.9 million, compared with adjusted net income of $25.0 million in the first quarter of 2012, the company said.

STB says no to UP TIH petition

The Surface Transportation Board announced May 1 that it has denied Union 
Pacific’s (UP) petition requesting that the Board find
 reasonable certain UP tariff provisions requiring shippers of
 Toxic-by-Inhalation Hazardous (TIH) commodities to indemnify UP against all
 liabilities not caused through UP’s own negligence or fault.




For Trinity, a record railcar backlog

Trinity Industries, Inc., in announcing earnings results for the
 first quarter ended March 31, 2013, noted that the company’s Rail Group received orders for 14,505 new railcars during the first quarter,
 increasing the backlog to a record 41,265 units with a record value of $5.1
 billion.

Commentary

LNG: Locomotive fuel of the future?

Lately, I’ve been seeing a lot of excitement among the Wall Street analyst crowd over LNG (liquefied natural gas) and its potential as a locomotive fuel. The railroads have been relatively quiet about their recently renewed interest in LNG, choosing to pursue long-term testing without making too much noise, as they usually do. Yet, some analysts have latched on to these efforts, talking about LNG like it’s the Holy Grail. Are they on the mark, or will they wind up suffering from (pardon the pun; it’s too obvious to resist) gas cramps?

CHSRA selects joint venture as best in value

The California High-Speed Rail Authority has selected the Tutor Perini/Zachry/Parsons joint venture’s bid as the “apparent best value” for the design-build contract to construct the first section of its new high-speed rail system.

Washington appeals court to hear railroad antitrust case

A multibillion-dollar antitrust suit alleging that four Class I railroads conspired to impose a uniform fuel surcharge on shippers will reach a crucial point on May 3, when a federal appeals court in Washington considers whether the case can proceed as a class action, Reuters reported today.

Freight car forecast: Wait till 2015

In its current quarterly freight car building forecast, Economic Planning Associates, Inc., says that, except for the booming tank car market, 2013, “in spite of continued [high capital] investments by the railroads, will be a difficult year for carbuilders. Most other car types will see moderation or declines in deliveries as our economy struggles.”