USEIA: CBR tops 50% of supply to East Coast refineries
The U.S. Energy Information Administration (EIA) has determined that there has been a “huge increase” in rail deliveries of crude oil to East Coast refineries.
The U.S. Energy Information Administration (EIA) has determined that there has been a “huge increase” in rail deliveries of crude oil to East Coast refineries.
Canadian Pacific has appointed Mark Erceg as Executive Vice President and Chief Financial Officer, effective May 18, 2015. He will replace outgoing CFO Bart Demosky, who will be departing from the company on May 31.
Compared to the prior-year week, carloads for the week ending April 25, 2015 on U.S. Class I railroads dropped 7.9%, but intermodal saw yet another gain, rising 5.6%, netting a slight dip of 1.6% in overall rail traffic, the Association of American Railroads reported.
Carolina Worrell has joined Railway Age as Managing Editor, based at Simmons-Boardman Publishing Corp.’s headquarters in New York City.
A 16% dip in coal revenue was the main factor contributing to a 16% drop in net income and a 17% drop in diluted earnings per share for Norfolk Southern Corp.in first-quarter 2015. The operating ratio rose slightly, as well.
To help build its reputation on a broader stage and deliver significant value to its member organizations and the customers they serve via new education and business services, the American Short Line Regional Railroad Association has hired two new team members, ASLRRA President Linda Bauer Darr announced on April 27, 2015.
Core pricing gains helped Union Pacific achieve 9% earnings per share growth in the first quarter of 2015, but EPS would have been stronger had a sharp drop in volume not occurred. One effect: The 2015 capital program has been cut by $100 million, to approximately $4.2 billion, a 3% reduction.