Railroad News

Norfolk Southern Railway is the latest railroad company to announce its membership in the Blockchain in Transport Alliance (BiTA).

Joining BiTA will help NS "identify opportunities where blockchain can be used to improve the transportation supply chain for our customers," said Fred Ehlers, NS' vice president information technology and chief information officer, in a press release.
 
A consortium of more than 250 transportation and logistics companies, BiTA seeks to cultivate a set of industry benchmarks, educate the market, and advance blockchain technology and its transportation and logistics applications within the supply chain.

Norfolk Southern Railway, New York state and local officials yesterday dedicated the new steel arch railroad bridge that spans the Genesee River in Letchworth State Park in Castile.

Built under a public-private partnership, the $75 million bridge expands freight-rail capacity and economic opportunities for businesses and communities across the Southern Tier and Finger Lakes, NS officials said in a press release.

Norfolk Southern Corp. is meeting key financial targets, improving operating efficiencies and advancing sustainable growth, Chief Executive Officer and President James Squires told shareholders attending the company's annual meeting held yesterday.

In 2017, the company delivered record results in several key financial measures, including all-time best earnings per share and operating ratio. Additionally, NS achieved productivity savings of $150 million, which were driven by efficiencies that included record locomotive fuel economy, said Squires, according to an NS press release.

Norfolk Southern Railway yesterday announced it has partnered with startup accelerator Plug and Play to help drive innovations in freight-rail transportation.

NS joined Plug and Play's Supply Chain & Logistics Innovation Platform to work with startup companies that are focused on creating applications of artificial intelligence, machine learning, the industrial internet of things (IoT) and advanced analytics in supply chains.
 
"As we continually look for technology solutions to improve safety, better serve our customers and improve railroad operations, this partnership will give us greater access to technology startup companies and the broader Silicon Valley ecosystem," said Fred Ehlers, vice president information technology and chief information officer, in a press release.

The American Chemistry Council yesterday honored Norfolk Southern Railway with the Responsible Care® Partner of the Year Award for the Class I's exemplary performance and safety record in transporting chemicals.

NS was one of the three companies and the only freight railroad to receive the council's premier partner award. The award goes to high-performing companies involved in the distribution, transportation, storage, use, treatment, disposal, and sales and marketing of chemicals vital to American businesses and households, NS officials said in a press release.

Norfolk Southern Corp. this morning announced its first-quarter financial results, which include four records.

The Class I set new Q1 highs or lows for: earnings per share at $1.93, up 30 percent year over year; net income at $552 million, up 27 percent; income from operations at $835 million, up 10 percent; and the operating ratio at 69.3, down 1.3 points. A lower effective income tax rate helped boost net income, NS officials said in a press release.

Norfolk Southern Railway has awarded its 2017 Thoroughbred Chemical Safety Award to 52 chemical customers for safely handling rail-shipped products.

Last year, the honorees shipped 153,213 carloads of chemical products regulated as hazardous material on NS rail lines without incident, company officials said in a press release.

Norfolk Southern Railway's safety train will visit 23 cities this year as part of its Operation Awareness and Response program, which provides first responders with free training on how to safely respond to a potential rail incident.

The train kicked off this year's schedule earlier this week with three days of training at NS' rail yard in Hattiesburg, Mississippi, according to an NS press release.

Norfolk Southern Railway has released its next generation of AccessNS, an e-commerce tool that enables customers to use a one-stop digital platform to conduct business with the railroad.

The revamped portal features faster functionality and a modern, intuitive user interface that's easier to navigate. By selecting digital "widgets," customers can create personalized dashboards that give them quick access to information they consider most vital to their logistics needs, NS officials said in a press release.

Norfolk Southern Corp. reported fourth-quarter 2017 adjusted net income of $486 million, or $1.69 per diluted earnings per share (EPS), compared with $416 million, or $1.42 per diluted share, in the same period a year ago.

For full-year 2017, NS posted $1.9 billion in adjusted net income versus $1.7 billion in 2016. Adjusted diluted EPS were $6.61, an 18 percent increase over last year's record diluted EPS of $5.62, NS officials said in a press release.

Norfolk Southern Railway has assisted 75 customer facilities in locating or expanding operations along the Class I's rail lines in 2017.

The 54 new and 21 expanded facilities owned by NS customers represent an investment of $1.1 billion by those customers. The investment is expected to create nearly 2,000 new customer jobs in the railroad's service area and generate more than 147,000 carloads of new rail traffic, according to an NS press release.

The New York State Department of Transportation (NYSDOT) has completed a $3.9 million project to replace the State Route 7 bridge over Norfolk Southern Railway tracks in Worcester.

Work began in March and was completed in November. Construction of the new multi-girder bridge was expedited and completed in one construction season, NYSDOT officials said in a press release.

Norfolk Southern Railway yesterday began operating trains across the new Portageville Bridge in Letchworth State Park in Castile, New York.

Under construction for the past two years, the new bridge spans the 235-foot-deep Genesee River gorge in the park. Known regionally as the Portage Bridge, the 945-foot-long steel arch structure will support economic growth and jobs across NS's southern tier in New York, according to a company press release.

Norfolk Southern Railway trained 3,241 first responders this year on the company's hazmat safety train, a rolling learning lab that helps communities prepare for and safely respond to potential rail incidents.

The safety train visited 23 communities across 14 states during its 2017 tour, providing free training to firefighters, law enforcement, emergency management personnel and other first responders, according to an NS press release.

Hallador Energy subsidiary Sunrise Coal LLC has signed a side-track agreement with Norfolk Southern Railway to construct a truck-to-rail coal loading facility.

Known as the Princeton Loop, the facility will be located 6 miles west of Princeton, Indiana, on Highway 64. When completed in spring 2018, the facility will primarily serve utility coal plants that NS serves, according to a Hallador press release.

Norfolk Southern Corp. reported third-quarter net income rose 10 percent to $506 million, or $1.75 per share, from $460 million, or $1.55 a share, in the same period a year ago.

NS' bottom-line growth was driven by an 11 percent increase in railway operations income, yielding a record quarterly operating ratio of 65.9 percent compared with 67.5 percent a year ago, company officials said in a press release.

Norfolk Southern Railway has begun recovery efforts to restore service to areas affected by Hurricane Nate, which made U.S. landfall over the weekend in southeast Louisiana and near Biloxi, Mississippi.

The Class I announced yesterday that operations to and in New Orleans have been restored to service, and NS will meter traffic back into the area.

Norfolk Southern Corp.'s board has appointed Cynthia Earhart as executive vice president and chief financial officer effective today.

Earhart succeeds NS Vice President and Controller Thomas Hurlbut, who has served as interim CFO since Aug. 1, following the retirement of Marta Stewart.