CSX, A&R Logistics Partner on Port of Charleston Facility
CSX and A&R Logistics have officially opened a new 615,000-square-foot plastics packaging and warehousing facility near the Port of Charleston, S.C.
CSX
CSX’s Atkinson Claims AAR Environmental Excellence Award
CSX Manager of Environmental Programs Meaghan E. Atkinson has received the 2020 Professional Environmental Excellence Award from the Association of American Railroads, described as “the highest honor for railroad industry environmental professionals.” The award “recognizes leading contributions to environmental responsibility and excellence in the industry.” Atkinson is the tenth CSX employee to receive this honor in the past 19 years.
For CSX, a Difficult Third Quarter (UPDATED)
CSX, the fourth Class I railroad to report third-quarter 2020 earnings, continued to feel the impact of the COVID-19 pandemic and authorized an additional $5 billion share buyback. CSX’s 3Q2020 net earnings of $736 million, or $0.96 per share, fell 14% from the 2019 period’s $856 million, or $1.08 per share.
SRF Selected for Wilmington Rail Realignment
The City of Wilmington, N.C., has selected Philadelphia-based Strategic Rail Finance to study the feasibility of its long-planned rail realignment project.
CSX Promotes Adams to SVP Sales
Arthur Adams is moving into a new leadership role in CSX’s Sales and Marketing organization: Senior Vice President of Sales.
CSX, NS Recognize Chemical Shippers for Safety
CSX and Norfolk Southern are honoring customers for their commitment to the safe transportation of hazardous materials (hazmat).
Small Road News: OmniTRAX, Watco, Anacostia Launch Growth Initiatives
Denver-based OmniTRAX is linking rail-served properties along its 25-mile Northern Ohio & Western Railway (NOW) with customers interested in locating there, in coordination with the Tiffin-Seneca Economic Partnership, which serves the counties of Tiffin and Seneca, Ohio. Additionally, Watco Companies, LLC, will lease and operate a line from CN subsidiary Wisconsin Central Ltd. in Illinois. Previously known as the Phoenix Line, Watco’s new subsidiary is now called the Elwood Joliet & Southern Railroad (EJSR). The Jeffersonville RiverRail Terminal in Indiana is set to open early next year, to be served by Louisville & Indiana Railroad (LIRC), an Anacostia Rail Holdings Co. subsidiary, and American Commercial Barge Line.
STB: Five Class I’s Revenue Adequate for 2019
The Surface Transportation Board has determined that five of the “Big 7” U.S. Class I railroads achieved revenue adequacy in 2019: BNSF, CSX, Norfolk Southern, Soo Line (the U.S. affiliate of Canadian Pacific) and Union Pacific. STB determined that those Class I’s achieved a rate of return on investment (ROI) equal to or greater than the Board’s calculation of the average cost of capital for the freight rail industry, which for 2019 is 9.34%.
Cowen: Is the COVID-19 Recovery Sustainable?
Intermodal’s growth path may help railroads sustain COVID-19 recovery. “Participants from Class I railroads were positive on current trends and cautiously optimistic that these trends can continue for the remainder of 2020 and beyond,” Cowen and Co. analysts Jason Seidl (Managing Director and Railway Age Wall Street Contributing Editor), Matt Elkott and Adam Kramer reported, following their attendance and participation at the North East Association of Rail Shippers (NEARS) Fall 2020 Virtual Conference. “Continued tightness in trucking is benefiting intermodal.”
Machine Vision: You CAN Fix What You Can’t See
RAILWAY AGE, SEPTEMBER 2020 ISSUE: Whether it’s the track structure or the equipment that operates on it, there are many things that the naked eye cannot readily see. Increasingly, machine vision technology is becoming the best way to identify potential flaws before they lead to failures.