A few weeks shy of their respective first quarter earnings announcements East Coast-based Class I railroads Norfolk Southern and CSX are feeling pretty good about their businesses. Norfolk Southern CEO Wick Moorman stated in the company’s 2012 annual report that the future is promising for the rail carrier, which saw 2012 come in as its [...]
Signal, bridge defects eyed in hazmat mishap
November 30, 2012
PAULSBORO, N.J. — A signal problem and/or a bridge-locking defect may have been contributing factors in a Conrail bridge collapse and CSX train derailment here Nov. 30. Paulsboro is some 20 miles southeast of Philadelphia. Some 12,500 gallons of the hazardous material vinyl chloride spilled into a creek from four derailed tank cars. There were [...]
3d quarter rail profits wrap-up
October 24, 2012
BNSF reported a 22 percent increase in profit for the third quarter 2012 versus third quarter 2011, citing improved intermodal (trailers and containers on flat cars) and automotive traffic. BNSF’s third quarter 2012 operating ratio of 68.3 percent was a significant improvement over the 71.7 percent for third quarter 2011. Operating ratio is a railroad’s [...]
UP lone “revenue adequate” railroad for 2010
November 4, 2011
WASHINGTON – The U.S. Surface Transportation Board has determined that only one major railroad – Union Pacific – was “revenue adequate” in calendar year 2010. A railroad is considered “revenue adequate” if it achieves a rate of return on net investment equal to at least the current cost of capital for the railroad industry. Revenue [...]
Wrap up: Major rails’ 3d quarter 2011 profits
October 26, 2011
BNSF reported a 9 percent improvement in profit for the third quarter 2011 versus the third quarter 2010. The third-quarter operating ratio of 71.7 percent was slightly higher than the 70.8 percent for third-quarter 2010. Operating ratio is a railroad’s operating expenses expressed as a percentage of operating revenue, and is considered by economists to be the [...]
UTU member dies in Ohio CSX shoving accident
September 9, 2011
BOTKINS, Ohio – CSX conductor Dennis A. Hemme, 59, became the ninth UTU member to die in an on-the-job accident in 2011 when he reportedly was crushed to death here Sept. 8 during a mainline shove of a stalled train. Botkins is some 110 miles north of Cincinnati. Hemme, with some six years of service, [...]
