STB
Letters citing rail service crisis continue to circulate at STB
(Source: Progressive Railroading 07/01/2022) Surface Transportation Board members and other federal officials continue to hear from rail shippers and other rail industry stakeholders about ongoing freight-rail service issues and the supply-chain crisis. This week, more than 50 Democratic and Republican members of Congress asked the STB to address the problems, particularly those disrupting U.S. food production.…
Read MoreVP Wallace outlines PSR problems, offers solutions at STB hearing
INDEPENDENCE, Ohio, April 27 — BLET National Vice President Mark L. Wallace testified yesterday on behalf of the BLET at a hearing before the U.S. Surface Transportation Board titled “Urgent Issues in Freight Rail Service.” STB announced on April 7 that it would hold a two-day hearing to investigate recent rail service problems and recovery…
Read MoreCP, KCS close into voting trust
(Source: Canadian Pacific Railway press release, December 14, 2021) CALGARY — Canadian Pacific Railway Limited (“CP”) today announced the completion of its acquisition of Kansas City Southern (“KCS”). The transaction represents an enterprise value of approximately US$31 billion. KCS stockholders will receive 2.884 CP common shares and US$90 in cash for each share of KCS…
Read MoreSTB sets new class exemption for emergency temporary trackage rights
(Source: Progressive Railroading 12/01/2021) The Surface Transportation Board (STB) yesterday announced that it has adopted a final rule establishing a new class exemption for emergency temporary trackage rights. The final rule eliminates the 30-day notice period in certain circumstances, speeding up the process for authorizing trackage rights in response to an unforeseen track outages, STB officials said…
Read MoreSTB asks Class Is to report on intermodal supply chain problems
(Source: Progressive Railroading 07/23/2021) Surface Transportation Board (STB) Chairman Martin Oberman yesterday sent a letter to all Class Is expressing his concern over persistent problems with congestion in the international intermodal supply chain and significant container storage fees that some shippers are being required to pay in order to receive their containers. Overman asked the Class…
Read More