General Information
AAR: U.S. railroads navagating supply-chain challenges
(Source: Progressive Railroading 09/02/2021) U.S. freight railroads’ traffic was steady last month compared with the August 2020 level, according to Association of American Railroads data. U.S. railroads originated 934,762 carloads in August 2021, up 4.1%, and 1,085,345 containers and trailers, down 3.3%, from year-ago levels. Combined, U.S. carload and intermodal originations were 2,020,107, down 0%, or 788…
Read MorePort of Coos Bay, developer to build new multimodal container facility
(Source: Progressive Railroading 09/02/2021) The Oregon Port of Coos Bay yesterday announced it has partnered with NorthPoint Development to construct a multimodal container facility on the North Spit. The port and NorthPoint have entered into a memorandum of understanding for the project, with the intention of finalizing negotiations and signing a contract by the end of the calendar year,…
Read MoreKCS, 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…
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