September 2, 2015

Second quarter financial results in for Class I railroads

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CSX Corporation announced all-time record quarterly financial results for the second quarter of 2015. Operating income for the railroad came in at more than $1 billion for the first time in company history. The railroad also saw an all-time record in operating ratio of 68.8 percent. Net earnings came in at $553 million or an [...]

Latest tank car, rail inspections turn up 62 defects

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Another round of targeted tank car and rail inspections in New York found 62 defects, including one “critical” safety defect that required immediate corrective action, Gov. Andrew Cuomo announced on Wednesday. The inspections are part of the governor’s efforts to address the safety of crude-by-rail shipments. State and federal teams examined 524 tank cars and [...]

Train derailment prompts evacuation in Tenn.

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MARYVILLE, Tenn. — A fire continued to burn Thursday afternoon at the site where a train car carrying hazardous material derailed and caught fire in eastern Tennessee, and officials said firefighters have been trying to keep neighboring rail cars cool as they make efforts to move them away from the flames. At a 4:30 p.m. [...]

MassDOT acquires secondary rail line from CSX

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The Massachusetts Department of Transportation (MassDOT) has completed the $23 million acquisition of the Framingham Secondary Rail Line from CSX Corporation. With the acquisition of the 21-mile rail line between Framingham and Mansfield, Mass., MassDOT can now connect the Framingham/Worcester, Needham, Franklin, and the Attleboro/Northeast Corridor commuter rail lines. The line also will provide added rail [...]

Amtrak, CSX sue trucking company over derailment

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RALEIGH, N.C. — A lawsuit filed Friday, May 1 by Amtrak and CSX alleges that a trucking company caused a March train derailment that injured 55 people by failing to take safety precautions or warn that the track was blocked. The lawsuit in a Raleigh federal court blames Guy M. Turner Inc. of Greensboro for [...]

Class I railroads release 1st quarter 2015 earnings

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CSX Corporation announced increases in its first quarter earnings April 14. Net earnings for the first quarter of 2015 came in at $442 million, an 11 percent increase over the $398 million reported for the same quarter of 2014. The company announced a 13 percent increase of earnings per share to $0.45 over last year’s [...]

CSX says railroad won’t deliver double-digit growth

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OMAHA, Neb. – CSX now says that the railroad won’t deliver the double-digit profit growth it promised this year because coal demand remains weak. Executives remain optimistic about the railroad’s prospects because service is improving, but they said Wednesday, a day after posting first-quarter earnings, that mid-to-high single-digit profit growth is likely in 2015. Read [...]

FRA’s investigation into W. Va. derailment begins

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On Feb. 22 the U.S. Department of Transportation’s (DOT) Federal Railroad Administration (FRA) announced that is now able to move forward with its full-scale forensic investigation into the derailment outside of Montgomery, W. Va., followed by a slower start earlier this week hampered by weather and safety concerns. During a media conference in Boomer, W. [...]

W. Va. oil-train fireball adding pressure for safety rule

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Video images of a fireball billowing from the wreckage of a derailed train hauling Bakken crude are adding to pressure on federal regulators to act on new safety standards for oil shipments. While there were no fatalities in the CSX Corp. accident in rural West Virginia on Feb. 16, the footage of flames and smoke [...]

W. Va. train derailment sends oil tanker into river

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MOUNT CARBON, W.Va. – Fires burned for hours after a train carrying more than 100 tankers of crude oil derailed in a snowstorm in West Virginia, sending a fireball into the sky and threatening the water supply of nearby residents, authorities and residents said Tuesday. Officials evacuated hundreds of families and shut down two water [...]