CSX

• November 02, 2017
• Class I

CSX collapses Howard Street Tunnel improvement project

CSX on Nov. 1 announced that it is cancelling its share of a long-planned P3 (public-private partnership) to rebuild and expand Howard Street Tunnel, a 122-year-old structure under downtown Baltimore originally built by the Baltimore & Ohio Railroad. The project, of which CSX’s share was $145 million, would have cleared the tunnel for double-stack intermodal trains serving the Helen Delich Bentley Port of Baltimore, which has experienced an increase in container traffic since opening of the expanded Panama Canal in 2016.

• November 02, 2017
• Class I

Economy spurs record intermodal volume

Following steadily growing weekly volume, intermodal rail traffic reached an all-time high on U.S. carriers in October, according to the Association of American Railroads.

• October 27, 2017
• Class I

All-time weekly record for U.S. intermodal

Total U.S. rail traffic for the week ending Oct. 21 was 559,989 carloads and intermodal units, up 3% from the same week a year ago, according to the Association of American Railroads. Traffic totaled 268,943 carloads, up 0.2%, while intermodal volume was 291,046 containers and trailers, up 5.6%, and a record for a single week.

• October 26, 2017
• Class I

CSX employee earns AAR environmental award

The Association of American Railroads has awarded Matthew T. Williamson, a CSX environmental field services and industrial hygiene manager, the 2017 North American Environmental Employee Excellence Award, described as “the highest honor for [railway] industry environmental professionals.”

• October 26, 2017
• Class I

CSX cancels Investor Day; share price drops

CSX management has cancelled its Oct. 30 Investor Day the event with little explanation. “We have received many incoming calls and emails from concerned investors who are worried what else could be behind management changes and/or the event’s cancellation,” said Cowen and Company Managing Director and Railway AgeWall Street Contributing Editor Jason Seidl.

• October 25, 2017
• Class I

Solid 3Q gains for Norfolk Southern

Norfolk Southern Corp. reported third-quarter net income of $506 million, up 10% on-year, as income from railway operations increased 11% to $911 million and the operating ratio fell to a quarterly record 65.9%. Earnings per share totaled $1.75, up 13% from the previous year.

• October 25, 2017
• Class I

Changes at the top for CSX

Three top CSX executives will be leaving the railroad on Nov. 15—Executive Vice President and Chief Operating Officer Cindy M. Sanborn; Executive Vice President and Chief Sales and Marketing Officer Fredrik J. Eliasson; and Executive Vice President Law and Public Affairs, General Counsel and Corporate Secretary Ellen M. Fitzsimmons. Sanborn and Eliasson are resigning “to pursue other interests.” Fitzsimmons is retiring. All “will remain engaged in supporting the transition until early 2018,” CSX said.

• October 18, 2017
• Class I

CSX 3Q17 earnings call: “Back to where it was, and better”

At CSX’s third-quarter 2017 earnings call, President and CEO E. Hunter Harrison acknowledged the railroad’s recent service problems, but insisted that CSX has recovered and is in better shape operationally than when he came on board earlier this year.

• October 17, 2017
• Class I

CSX profit up 1% in 3Q

CSX Corp. on Oct. 17 reported third-quarter 2017 net earnings of $459 million, or 51 cents per share, up from $455 million, or 48 cents per share, in the same period last year. Excluding a $1 million restructuring charge, adjusted earnings per share remain at 51 cents.

• October 16, 2017
• Class I

Savannah moves 1M TEUs in 1Q, plots rail growth

The Port of Savannah moved more than one million twenty-foot equivalent container units (TEUs) at Garden City Terminal in the first quarter of fiscal 2018, as traffic increased by 5.8% or 55,629 TEUs over the same period in FY17.