Archive for September 2021
Intermodal drop-off spans seven consecutive weeks
(Source: Railway Age, September 22, 2021) NEW YORK — For the week ending Sept. 18, 2021, U.S. Class I railroads hauled 234,790 carloads, up 3.5% from the same point last year, but the 270,832 containers and trailers they moved fell 8.3% from 2020, the Association of American Railroads reported on Sept. 22. This is the…
Read MoreCoordinated Bargaining Coalition Update
September 22, 2021 — The Rail Unions comprising the Coordinated Bargaining Coalition (CBC), negotiating together in the current round of National Negotiations, have issued the following statement: “As we advised in January of 2021, the CBC and the nation’s rail carriers have been at the bargaining table since the beginning of 2020. Since January, CBC…
Read MoreStock analyst BMO downgrades CN as new strategic plan doesn’t tap “full potential”
(Source: BNN Bloomberg, September 21, 2021) NEW YORK — BMO Capital Markets is downgrading its view on Canadian National Railway Co. with its analyst saying the railroad operator’s strategic plan announced last week may fall short of tapping into the company’s full potential. Full story: BNN Bloomberg Tuesday, September 21, 2021
Read MoreCN to cut 1,000 jobs as part of new strategic plan
(Source: Railway Age, September 21, 2021) NEW YORK — A few days after throwing in the towel on its attempted merger with Kansas City Southern, and facing a board and management reorganization forced by activist investor and “beneficial owner” TCI Fund Management Ltd., CN on Sept. 17 announced its “Full Speed Ahead – Redefining Railroading”…
Read MoreWeek 36: Intermodal volume a drag on U.S. rail traffic total
(Source: Progressive Railroading 09/16/2021) U.S. railroads logged 468,610 carloads and intermodal units for the week ending Sept. 11, a 1.3% decrease compared with the same week last year, according to Association of American Railroads (AAR) data. Total carloads for the week were 223,710 units, up 4.5%, while intermodal volume was 244,900 containers and trailers, down 6%. Six…
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