Railroad News

4/21/2017    

Rail News: People

4/21/2017    

Rail News: Kansas City Southern

4/21/2017    

Rail News: Kansas City Southern

Rail News Home Kansas City Southern 4/21/2017 Rail News: Kansas City Southern
Kansas City Southern de Mexico (KCSM) yesterday filed a formal response to challenge the Mexican Federal Competition Commission's report on effective competition in Mexico's freight railroad system.KCSM filed its arguments and evidence to challenge the March 15 preliminary report in which the commission's investigative authority found a lack of effective competition regarding interconnection services for trackage rights for the KCSM, Ferromex, Ferrosur and Ferrovalle railroads, according to a KCSM press release.The report has no legal or regulatory implications for KCSM's concession title rights or railroad operations. However, the competition panel's investigation was based on "faulty economic analysis," KCSM officials believe.KCSM cited three reports issued by the Organization for Economic Cooperation and Development (OECD) that railroad officials believe contain important conclusions and findings that should have been considered by the commission's investigative authority.The three OECD reports cited are "Peer Review of Railway Freight Development in Mexico," issued in 2014; “Establishing Mexico's Regulatory Agency for Rail Transport," issued in 2016; and “Review of the Regulation of Freight Transport in Mexico," issued in 2017.The competition panel has 110 business days to analyze the arguments submitted in response to the preliminary report and issue a final report. KCSM parent Kansas City Southern officials said they believe KCSM's response to the commission's report "is compelling and should lead to an amended final report." Contact Progressive Railroading editorial staff. More News from 4/21/2017

4/21/2017    

Rail News: CSX Transportation

4/21/2017    

Rail News: CSX Transportation

Rail News Home CSX Transportation 4/21/2017 Rail News: CSX Transportation
CSX Corp. yesterday announced an 11 percent increase in its quarterly dividend, a new $1 billion share repurchase program and strong financial guidance as it applies the precision railroading model to its operations."Although we are just in the beginning phase of making changes to our network, we are off to a great start," said President and Chief Executive Officer E. Hunter Harrison in a press release. "These changes are critical to driving strong, sustainable service for our customers and superior value for our shareholders."CSX expects to achieve record gains in efficiency and a step-function improvement in its key financial measures this year given continued economic growth and stable coal markets. Adjusting for restructuring charges in 2017, actions to improve efficiency are expected to drive a full-year operating ratio in the mid-60s and earnings-per-share growth of 25 percent off the 2016 reported base of $1.81.Meanwhile, management expects the $1 billion share repurchase program to be completed by the end of first-quarter 2018. The new program follows the completion of CSX's previous repurchase plan, during which the company bought back $2 billion worth of shares since April 2015.In line with the company's approach in deploying capital, CSX now expects to invest $2.1 billion this year, including $270 million for positive train control implementation.The quarterly dividend, which increased from 18 cents to 20 cents, is payable on June 15 to shareholders of record as of May 31. Contact Progressive Railroading editorial staff. More News from 4/21/2017

4/21/2017    

Rail News: Passenger Rail

4/21/2017    

Rail News: Logistics

4/21/2017    

Rail News: Passenger Rail

4/21/2017    

Rail News: Kansas City Southern

4/21/2017    

Rail News: Kansas City Southern

Rail News Home Kansas City Southern 4/21/2017 Rail News: Kansas City Southern
Kansas City Southern today reported first-quarter revenue climbed 8 percent to $610 million on a 6 percent increase in carloads compared with first-quarter 2016.Excluding an estimated impact of Mexican peso depreciation, revenue rose 11 percent compared with the same period a year ago, KCS executives said in a press release.Operating income jumped 12 percent to $211 million. Reported diluted earnings per share (EPS) rose 39 percent to $1.38 from 99 cents per share a year ago. Adjusted diluted EPS rose 14 percent to $1.17 from $1.03 in Q1 2016.Year over year, operating ratio declined to 65.4 percent from 66.6 percent.KCS President and Chief Executive Officer Patrick Ottensmeyer described the first-quarter performance as "solid and clean." The railroad's first-quarter revenue, volumes, operating ratio and EPS were all records, he said. Revenue increased in four commodity groups led by a 64 percent increase in energy and a 25 percent increase in automotive. Revenue from chemical and petroleum climbed 8 percent and agriculture and minerals rose 6 percent in the quarter compared with last year.Two business areas saw "relatively modest" declines: intermodal, down 2 percent, and industrial and consumer, down 1 percent compared to Q1 2016, Ottensmeyer said.Operating expenses increased 6 percent to $399 million. Excluding an estimated impact of Mexican peso depreciation, operating expenses rose 9 percent compared with Q1 2016 expenses.For the remainder of 2017, KCS' outlook is "favorable" for 75 percent of its business volume and "neutral" for 25 percent. Favorable markets are automotive, energy, chemicals and petroleum, and intermodal; neutral markets are agriculture and minerals and industrial and consumer."We all remain focused on operational improvements and longer-term growth drivers and are excited to see some of these opportunities, such as refined products movements, materialize in 2017," said Ottensmeyer. Contact Progressive Railroading editorial staff. More News from 4/21/2017

The Massachusetts Department of Transportation (MassDOT) received delivery of 20 new remote-control steel ballast cars in mid April.

The MassDOT Rail & Transit Division purchased the cars and noted the innovative nature of the remote-control gates that MassDOT says will make the process of dumping ballast faster, more efficient and safer.

Janno Lieber has joined the senior executive ranks of the Metropolitan Transportation Authority (MTA) as chief development officer. In this newly created position, Lieber will take over leadership and oversight of key strategic capital initiatives focused on increasing the capacity of the system.

As part of his new responsibilities, Lieber will head up the MTA Capital Construction Company and will manage the MTA's major capital projects that expand capacity including:
•Second Avenue Subway Phase II – extending the line to 125th Street;
•East Side Access – connecting Long Island Railroad to Grand Central Terminal;
•Penn Station Access – bringing Metro-North Railroad into Penn Station;
•Enhanced Stations;
•Improved Rail Mass Transit Access to JFK Airport with a focus on developing a one-seat ride;
•LIRR Third Track – expanding capacity on the Railroad's main line; and
•LIRR Double Track – improving service and reliability on the LIRR's Ronkonkoma Branch.

Four democratic senators from New York and New Jersey are urging U.S. Secretary of Transportation Elaine Chao to visit the rail infrastructure linking to two states to highlight the need for investment in the region's rail and transit infrastructure.

 

The Federal Railroad Administration (FRA) is planning a workshop this summer to tackle a critical rail safety element: grade crossings.

The FRA's Highway-Rail Grade Crossing Safety workshop will be held Aug. 15-17 at the Westin Hotel in St. Louis, Mo. FRA says the workshop "will bring together national and international subject matter experts to identify and prioritize specific research needs related to highway-rail grade crossing safety."

Original author: Stuart Chirls, senior editor, Railway Age

Original author: Stuart Chirls, senior editor, Railway Age

4/20/2017    

Rail News: Passenger Rail