A perhaps little-known bit of railroad trivia is that, according to a reliable industry source, Illinois Senator and Majority Whip Dick Durbin held the late E. Hunter Harrison in extreme contempt (that’s a polite way of saying “hated”), and the feeling was mutual.
Members of the Brotherhood of Locomotive Engineers and Trainmen (BLET) ratified on July 21 a new five-year on-property agreement that secures a general wage increase of 29% with the 154-mile short line
The Surface Transportation Board (STB) will hold a public hearing this September on the proposed merger of Canadian Pacific (CP) and Kansas City Southern (KSC), which seeks to create North America’s first transnational freight railroad, Canadian Pacific Kansas City (CPKC).
Kansas City Southern (KCS) released on July 21 a 2021 sustainability data update, including an improved injury frequency rate and Carbon Disclosure Project (CDP) climate change disclosure score, to its sustainability report
The Mexican Ministry of Infrastructure, Communications and Transportation (SICT) has agreed to extend exclusivity rights granted to Kansas City Southern de México, S.A. de C.V. (KCSM), a Kansas City Southern (KCS) affiliate, until 2037, in exchange for new investment in the Celaya-NBA Line Railway Bypass and other infrastructure, KCS and KCSM reported on July 20.
Amtrak is calling on the Surface Transportation Board (STB) to deny CN’s conditions to the Canadian Pacific-Kansas City Southern merger because they do “not satisfy the Board’s ‘operationally feasible’ requirement” and “would harm the public interest by adversely affecting the provision of passenger rail service. …”
According to Cowen and Company’s recently conducted second-quarter 2022 Rail Equipment and Rail Shipper Surveys, the outlook for railcar orders is positive, and rail shipping rates will continue to increase. Details follow, plus insights on the Class I railroads, ahead of earnings.
The Surface Transportation Board (STB) on July 1 accepted for consideration responsive applications by CN and Norfolk Southern (NS) regarding the Canadian Pacific-Kansas City Southern merger, which is under STB review and seeks to create North America’s first transnational freight railroad, Canadian Pacific Kansas City, or CPKC.
At Cowen and Company, we are adjusting our railroad estimates ahead of second-quarter 2022 earnings. Continued rail congestion is hindering volume (still below 2019 levels), while pricing is expected to be on par with first-quarter levels.
Honoring a pledge made in March, Kansas City Southern on May 2 presented $504,530 to the American Red Cross to support the Global Red Cross network’s response to the Ukraine humanitarian crisis.
