CSX Corp. yesterday reported fourth-quarter 2017 revenue declined 6 percent to $2.86 billion compared with a year ago, as the Class I hauled less freight during the period.
The company posted net earnings of $4.1 billion, or $4.62 earnings per share, compared with $458 million, or 49 cents per share in Q4 2016. The 2017 earnings include a $3.6 billion net tax reform benefit under the recently passed Tax Cuts and Jobs Act of 2017, as well as a $10 million net restructuring charge.
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Despite a decrease in the number of grade crossing accidents in the United States over the past three years, the number of fatalities resulting from those incidents has been on the rise. The number of train and motor vehicle accidents at U.S. grade crossings dropped from 2,295 in 2014, to 2,075 in 2015 and to 2,025 in 2016, according to Federal Railroad Administration (FRA) data. However, the number of fatalities resulting from those accidents jumped in 2016 to 265 — up from 233 in 2015 and 262 in 2014.
The North Carolina Department of Transportation's (NCDOT) Rail Division has selected Dewberry to provide general rail engineering support. Contract services could include rail project management and technical support, as well as track, roadway and structure design and associated planning. Other services may include engineering feasibility studies for rail corridor projects and program management support for federal grant programs.
Iowa-based Environmental Lubricants Manufacturing Inc. (ELM) has chosen Chugoku Kogyo Co. Ltd. Hiroshima to serve as its exclusive nationwide distributor in Japan. Before the venture, the two companies studied the market potential for biobased grease and lubricants in Japan and determined the country is ready for biobased products, ELM officials said in a press release. It's expected that biobased grease and lubricants will become a growing commodity in Japan, ELM officials said.
The Final Environmental Impact Report (FEIR) has been released for the Port of Long Beach's (POLB) proposed redeveloped of a rail yard to transition more cargo to rail.
Currently, POLB says the ability to build long trains is limited due to the lack of adequate yard tracks and the configuration of mainline tracks. The proposed Pier B On-Dock Rail Support Facility would change this by providing track space to join together trains assembled at terminals. No cargo trucks would visit the facility, which POLB says would enhance the environmental benefits of the facility by pushing more cargo to rail transportation. Further environmental benefit would be seen from the rail facility's operator, Pacific Harbor Line, a switching railroad that has converted its fleet to clean diesel locomotives that reduce air pollution and save fuel.
The Capital Metropolitan Transportation Authority (Cap Metro) Board of Directors in Austin, Texas, has named Randy Clarke as the agency's next president and CEO.
January will see the final five miles of rail installed as part of the Long Island Rail Road (LIRR) Double Track project.
The Metropolitan Transportation Authority (MTA) explains that the utilization of design-build construction along with a specialized New Track Construction machine lays rail more than 10 times faster than the agency has ever done. The accelerated construction has saved MTA more than $7 million and the project is expected to be complete in August 2018, 16 months ahead of schedule.
Amtrak is adding rail cars to 10 of its daily Pacific Surfliner trains serving Santa Barbara County, California, to keep up with increased demand following last week's mudslides.
The cars will provide more than 2,000 additional seats, Amtrak officials said in a press release. Railroad officials observed an increase in demand after U.S. Route 101 was closed during the deadly mudslides that occurred near Montecito, California.
The Central Maine & Québec Railway (CMQ) has announced two appointments in the New Year.
The Central Maine & Quebec Railway (CMQ) has named Chad Mowery vice president of operations and J. Wesley Logan, general manager operations.
Mowery's promotion from general manager to his new role was effective Jan. 1. He joined CMQ in March 2015 after 16 years in transportation, engineering and mechanical management positions with railroads owned by short-line holding company RailAmerica and its successor, Genesee & Wyoming Inc.
Florida East Coast Railway, the regional carrier operating 350 miles of main line from Miami to Jacksonville, has a new president and chief executive officer.
Contact Progressive Railroading editorial staff.
Contact Progressive Railroading editorial staff.
Contact Progressive Railroading editorial staff.
Contact Progressive Railroading editorial staff.
The Capital Metropolitan Transportation Authority's (Cap Metro) board in Austin, Texas, late last week named Randy Clarke president and chief executive officer.
The board is expected to approve Clarke's contract on Jan. 29, according to an agency press release.
A Washington Metropolitan Area Transit Authority (WMATA) Red Line train yesterday derailed outside the Farragut North Station in Washington, D.C.
The train of 7000-series rail cars was carrying 60 passengers when it derailed at about 6:30 a.m. No injuries were reported. Investigators believe a break in the rail caused the derailment, WMATA officials said on Twitter.
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After spending 10 years as a human resources executive with H.J. Heinz & Co., Les Dakens joined CN in 2001 as senior vice president of people. During his interviews with the railroad’s leadership team, Dakens met Hunter Harrison, then CN’s executive vice president and chief operating officer.
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After spending 10 years as a human resources executive with H.J. Heinz & Co., Les Dakens joined CN in 2001 as senior vice president of people. During his interviews with the railroad’s leadership team, Dakens met Hunter Harrison, then CN’s executive vice president and chief operating officer.
Contact Progressive Railroading editorial staff.
The Denver Regional Transportation District's (RTD) board has elected Doug Tisdale chair for 2018.
Tisdale, who is the former mayor of Cherry Hills Village, Colorado, currently serves as president of law firm Tisdale & Associates LLC.