Archive for July 2018

CN CEO vows loyalty to grain farmers as oil shipments climb

(Source: Bloomberg, July 31, 2018) NEW YORK — Crude oil demand may be on the rise again, but Canadian National Railway Co.’s new leader insists energy shipments won’t displace longtime railroad staples such as grain and lumber. Full story: Bloomberg Tuesday, July 31, 2018

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As Canada waits for pipelines, record volumes of oil move by rail

(Source: Calgary Herald, July 31, 2018) CALGARY — Canadian oil exports moving by train have set another record and the trend won’t be derailed anytime soon — until additional pipelines are built. New National Energy Board figures show 199,000 barrels of oil were exported daily by rail in May, up slightly from April and a…

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G&W posts operating revenue, income growth in Q2

(Source: Progressive Railroading 07/30/2018) Genesee & Wyoming Inc. (G&W) reported second-quarter 2018 operating revenue rose 10 percent to $595 million from $540.4 million and operating income increased 3.4 percent to $103.1 million compared with the same quarter a year ago. The company’s reported diluted earnings per share (EPS) fell 1.4 percent to 0.73 cents per…

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Report: Short lines add $6.5 billion to U.S. economy

(Source: Railway Age, July 27, 2018) NEW YORK — An industry economic impact report found short line railroads provide $6.5 billion in added value to the U.S. economy – aided by the positive impact of the Short Line Tax Credit. The report, which was prepared by PricewaterhouseCoopers LLP and released by the American Short Line…

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