2023 Outlook: Rails Beware
RAILWAY AGE DECEMBER 2022 ISSUE: The Surface Transportation Board (STB) is plotting an active and intense 2023.
Norfolk Southern
Commentary
Will Bureaucrats Invade the C-Suite?
WATCHING WASHINGTON, RAILWAY AGE DECEMBER 2022 ISSUE: What is going on with Class I railroad labor relations and customer service?
Class I Briefs: NS, UP
Norfolk Southern (NS) recognizes 15 customers and suppliers for leadership in energy efficiency, innovation and environmental stewardship. Also, Union Pacific (UP) reports the Mexican government’s extension of the Carta Porte grace period.
JAXPORT Announces New Trans-Atlantic Service
Jacksonville Port Authority (JAXPORT), which is served by 40 daily trains via CSX and Norfolk Southern (NS), as well as regional railroad Florida East Coast Railway (FEC), announced on Nov. 28 that it has partnered with U.K.-based Ellerman City Liners to offer direct container service to/from three destinations in Europe.
Class I Briefs: CN, NS
CN announces $100,000 donation to Shock Trauma Air Rescue Service (STARS). Also, Norfolk Southern’s (NS) Atlanta headquarters wins U.S. Green Building Council (USGBC) Chrysalis Award in the “New Construction Transformation” category.
First Solar to Build $1.1B Alabama Plant
Tempe, Ariz.-based First Solar, Inc., has selected a Norfolk Southern (NS)-served site in north Alabama for a $1.1 billion photovoltaic (PV) solar-module manufacturing facility.
People News: NS, UP
Norfolk Southern (NS) Vice President Audit and Compliance Susan Stuart will retire on March 1, 2023. Succeeding her will be 14-year NS veteran Jacqueline Gray. Also, Union Pacific General Director, Tech Brett Hiscock has earned an Employer Support of the Guard and Reserve (ESGR) Patriot Award from the U.S. Department of Defense.
SC Ports Completes Phase I Expansion of Inland Port Greer
South Carolina Ports Authority (SC Ports) on Nov. 18 celebrated completing the first phase of a $30 million-plus capacity expansion project at Inland Port Greer, which is served exclusively by Norfolk Southern (NS).
NS to Acquire Cincinnati Southern for $1.62B
Norfolk Southern (NS) on Nov. 21 reported executing a purchase agreement to acquire substantially all the assets of the 337-mile Cincinnati Southern Railway (CSR), which runs between Cincinnati, Ohio, and Chattanooga, Tenn. The $1.62 billion deal is expected to close in first-half 2024.
Commentary
Cowen: Measuring Supply Chain Shifts
A COVID-induced supply chain spiral led to a logistical conundrum that forced shippers and executive teams to adapt to an ever-changing global environment. As the dust begins to settle, we, at Cowen Research, are taking a closer look at the more long-lasting changes across the supply chain and consumers. A multi-sector angle provides insight into the long-term impact for supply chains and beneficiaries of these shifts.