Rail Equipment Market: The Cowen Insight
Cowen and Company on Feb. 15 held a webinar with five expert panelists addressing the current state and outlook for the rail, locomotive, and railcar leasing and manufacturing markets.
CN
CN, Progress Rail, REG Launch Renewable Fuels Testing
CN, in partnership with Progress Rail and Renewable Energy Group (REG), earlier this month reported starting “100% renewable fuel testing in Pennsylvania.”
25 UNDER 40
RAILWAY AGE FEBRUARY 2022 ISSUE: Railway Age is proud to recognize 25 “Fast Trackers” Under 40 in 2022.
NS, CSX, CN Recognized for Supplier Engagement on Emissions Reduction
Norfolk Southern (NS), CSX and CN have earned spots on CDP’s 2021 Supplier Engagement Leaderboard, which recognizes companies for their work with suppliers to reduce emissions.
Draft Key Failure Caused CN Derailment: TSB
Canada’s Transportation Safety Board (TSB) has determined that a draft key (“cross key”) failure caused the Jan. 26, 2021 derailment of a CN freight train near Edmundston, N.B. TSB said investigation report R21M0002 “draws attention to the importance of reassessing the design and inspection frequency of critical rail components, such as [draft] keys, based on changes in railway operating conditions.”
For CN, a Hat Trick
January 25, 2022, will be remembered as the day CN achieved, in hockey parlance, a hat trick (three successes of the same kind, especially consecutive ones within a limited period; i.e. a hockey player who scores three goals in the same game). The Class I appointed a new President and CEO—who spent nearly 30 years at rival Class I Canadian Pacific; entered into a “Resolution Agreement” with beneficial shareholder and 2021 antagonist hedge fund TCI; and posted fourth-quarter 2021 results it calls “outstanding.”
Railway Age’s 2022 ‘Fast Trackers’ 25 Under 40 Honorees
Railway Age is pleased to announce the 25 “Fast Trackers” selected for this year’s 25 Under 40 awards program.
CN to STB: We Want the Springfield Line (UPDATED WITH CP RESPONSE)
CN reported on Jan. 13 that it will ask the Surface Transportation Board (STB) “to condition any approval of a Canadian Pacific-Kansas City Southern merger on the divestiture of KCS lines from Kansas City, Missouri to Springfield and East St. Louis, Illinois (the Springfield Line) to CN, pursuant to the STB’s statutory authority to order ‘the divestiture of parallel tracks’ as a merger condition.” CP immediately responded, negatively.
Wabtec Lands FLXdrive Order From Australian Mining Company (Updated)
Four FLXdrive battery-electric locomotives from Wabtec will begin tests runs in 2024 along Rio Tinto’s western Australian rail network, the mining company reported on Jan. 10.
CPKC Secures Amtrak Support
Amtrak is backing Canadian Pacific and Kansas City Southern’s proposed combination, Canadian Pacific Kansas City (CPKC), and CP is committing to support Amtrak’s service expansion in two U.S. regions, the railroads reported on Jan. 6.