Archive for August 2021
KCS, NS, UP evaluate hurricane damage
(Source: Progressive Railroading 08/31/2021) Three Class Is are evaluating the impact Hurricane Ida has had on their operations in Louisiana and Mississippi. Kansas City Southern, Norfolk Southern Railway and Union Pacific Railroad yesterday issued customer service advisories on how the storm is affecting service in the region. The hurricane made landfall along the Louisiana coast on Aug. 29. KCS’s…
Read MoreRailroads brace for gridlock after Ida hammers New Orleans hub
(Source: Bloomberg, August 30, 2021) NEW YORK — Hurricane Ida forced Kansas City Southern to shut its main line in Louisiana and has halted exchanges between railroads in New Orleans, which may worsen delays in a U.S. shipping industry that is already stretched thin. Rail stocks fell. Full story: www.bloomberg.com Tuesday, August 31, 2021
Read MoreActivist investor raises stake in “undervalued” CN, may seek board seat
(Source: BNN Bloomberg, August 30, 2021) MONTREAL — The investment firm founded by billionaire Christopher Hohn has increased its stake in Canadian National Railway Co., describing the railroad operator’s stock as “undervalued” and an “attractive investment opportunity” in a filing to the U.S. Securities and Exchange Commission on Monday. A regulatory filing also includes commentary…
Read MoreClass Is employed fewer people in July
(Source: Progressive Railroading 08/30/2021) U.S. Class Is as of mid-July employed 115,670 people, down 0.23% from mid-June and down 1.33% from employment levels in mid-July 2020, according to Surface Transportation Board data. The following five of six employment categories logged decreases last month versus June’s total: maintenance of equipment and stores, down 0.79% to 17,519 workers; maintenance…
Read MoreUnion Pacific applies PTC to ‘Big Boy’ steam locomotive
(Source: Progressive Railroading 08/27/2021) Union Pacific Railroad has equipped one of its legendary steam locomotives, the “Big Boy” No. 4014, with positive train control (PTC). In January, a new design approach emerged to enable UP to achieve its goal of equipping the 80-year-old locomotive with PTC, one of the industry’s newest technologies. PTC is designed to automatically stop…
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