July 4, 2015

Train derailment prompts evacuation in Tenn.

CSX_logo

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

MassDOT_Fotor

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

CSX_logo

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

CSX_logo

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

CSX_logo

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

FRA_logo_words

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

oil-train-rail

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

CSX_logo

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 [...]

Railroads reap record profits despite decline in traffic

The nation’s four major railroads are still carrying less freight than they were before the recession. But the last decade has been an exhilarating ride for them nonetheless — an era of growing profits, soaring stock prices and ambitious investments. For Jacksonville-based CSX Corp., freight volume has dropped 7 percent since 2004. Meanwhile, its shares [...]

CSX lays off 52 management workers in Jacksonville

CSX_logo

CSX Corp. laid off 52 management workers, all of them in Jacksonville, according to a company spokeswoman. The company finished the round of layoffs Monday, spokeswoman Melanie Cost said. “This is all related to the fact that we’re in a competitive industry,” she said. “The separation of the employees was difficult – it’s a difficult [...]