FINANCIAL EDGE, DECEMBER 2021 ISSUE: Now that the drama around the CP-KCS merger has finally subsided, the rail market has to occupy itself with other more mundane issues, such as the forward trajectory of coal loadings. Representing 12% of railcar loadings (even in its diminished state), coal remains a critical industry issue.
The Surface Transportation Board (STB) on Nov. 29 decided that Amtrak may access CSX’s Choctaw Yard in Mobile, Ala., as part of its Gulf Coast service planning efforts.
The Surface Transportation Board (STB) has adopted a final rule establishing a new “emergency temporary trackage rights class exemption” that could be invoked during natural disasters, accidents or derailments; the rule is effective Dec. 30, 2021.
Years ago, as general counsel to the Illinois Racing Commission, Surface Transportation Board (STB) Chairperson Martin J. Oberman chased the “gow”—jockey-speak for opium used illegally to improve race horse performance. These days, the 76-year-old Oberman is himself infused with a legal form of gow: an unabated resolve to use his regulatory cudgel to splinter railroad market power.
Canadian Pacific (CP) and Kansas City Southern (KCS) have received the required Mexican regulatory pre-transaction control approvals for their proposed combination, Canadian Pacific Kansas City.
The Surface Transportation Board (STB) is calling on Norfolk Southern (NS) to address the deterioration of “key operating metrics” over the past several weeks and the increasing number of customer complaints to STB about the Class I railroad’s “poor performance.”
The Surface Transportation Board will consider a proposal by private railcar owners to adopt regulations updating the demurrage and accessorial rules governing the railroads’ use and handling of their equipment.
The Surface Transportation Board (STB) has accepted for consideration the Canadian Pacific (CP)-Kansas City Southern (KCS) merger application submitted on Oct. 29.
Cowen & Company hosted the Kansas City Southern (KCS) executive team in New York City last week for investor meetings. While challenges across
Mexico continue to hinder railroad operations, discussions with regulatory authorities appear to be moving in the right direction.
Two rulemakings to establish rate reasonableness processes for small rate disputes are moving forward, the Surface Transportation Board (STB) reported on Nov. 15.