According to Cowen and Company’s recently conducted fourth-quarter 2022 Rail Equipment and Rail Shipper surveys, the demand for railcars remains strong, and rail-shipping pricing expectations ticked up sequentially. Details follow, plus insights on the Class I railroads, ahead of earnings.
The CSX Memphis Intermodal team marks a safety milestone. Also, Union Pacific (UP), CSX and Norfolk Southern (NS) have been included in JUST Capital’s “America’s Most JUST Companies” list for 2023.
The Surface Transportation Board (STB) on Dec. 30 directed Union Pacific (UP) to deliver certain unit trains of corn from origins in the Midwest to California on behalf of Foster Poultry Farms (Foster Farms) to alleviate “immediate service issues” while it further considers the chicken and feed producer’s exparte petition for an emergency service order. UPDATE: Foster Farms on Jan. 4 replied to UP’s daily service status updates, required by STB to start Dec. 31 and end Jan. 3. The updates will continue through Jan. 17, the railroad reported, to assist the Board with its determination.
Schneider on Jan. 2 reported completing the transition of its western rail operations to Union Pacific (UP). The trucking, intermodal and logistics services provider signed a long-term agreement with UP in January
Union Pacific (UP) on Dec. 29 told customers that it is implementing “catastrophic embargo #UP130022” for all traffic in and out of Iowa, Minnesota and Wisconsin “to maintain fluidity as this segment of the network works to move volumes” impacted by winter weather.
Union Pacific (UP) donates equipment to the Gary Job Corps Center in San Marcos, Tex. Also, CSX contributes $100,000 to help combat antisemitism.
Union Pacific (UP) employees have been Building America for more than 160 years. Central to that mission are train conductors, whose jobs require long days and nights away from home riding trains. Through the decades, technology has continuously transformed rail operations, and now a new pilot at UP will apply technology to the conductor’s role to improve safety and quality of life.
The Oregon Department of Transportation (ODOT) on Dec. 15 celebrated the grand opening and completion of the $35.5 million, 64-acre truck-to-rail Mid-Willamette Valley Intermodal Center.
This past November marked my second anniversary at Union Pacific, and what an amazing time it has been! The call to “Build America” that first drew me here continues to inspire me every day. I remain in awe of the dedicated and talented people who work at Union Pacific, and the wealth of knowledge we collectively represent. Together, we have made great strides in leading the way to a future that is tech-enabled and rests on the shoulders of some of the best and brightest tech talent.
Union Pacific (UP) Chairman, President and CEO Lance Fritz on Dec. 16 advised the Surface Transportation Board (STB) that his railroad is immediately “pausing any additional embargoes under the pipeline inventory management program we began in November.”