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May
13

CSX recognizes 65 companies for hazmat safety in 2021

Rail News Home CSX Transportation 5/13/2022 Rail News: CSX Transportation
CSX has presented its Chemical Safety Excellence Award to 65 customers for their "outstanding contribution" to the safe transportation of hazardous materials in 2021.The awards were presented to companies that shipped at least 600 carloads of hazardous materials with CSX during the year without a hazmat release due to controllable factors.Representing a wide range of industry segments, the winning companies shipped over 185,000 carloads of hazardous materials on the Class I's network in 2021.CSX gave special recognition to global chemical company Kemira, which led all hazard materials shippers with 21 consecutive years as a CSX award winner.Also receiving special recognition were ExxonMobil Chemical Co. and Messer North America, which reached their 10-consecutive-year milestone as award winners; and Americas Styrenics, Ascend Performance Materials and Shintech, which reached five consecutive years without a nonaccidental release.The full list of award winners can be read here.

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May
12

CSX to serve Novelis aluminum recycling plant in Alabama

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May
12

CSX to serve Novelis aluminum recycling plant in Alabama

Rail News Home CSX Transportation 5/12/2022 Rail News: CSX Transportation
A rendering of the future Novelis plant, which will be served by CSX. Photo – novelis.com

CSX will provide rail transportation to Novelis Inc.’s future $2.5 billion aluminum recycling and rolling plant in Bay Minette, Alabama, the Class I announced yesterday.

The low-carbon facility will be the first fully integrated aluminum mill built in the United States in 40 years, CSX officials said in a press release.

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Apr
21

CSX posts 'strong' first quarter

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Apr
21

CSX posts 'strong' first quarter

Rail News Home CSX Transportation 4/21/2022 Rail News: CSX Transportation
as we moved into March, operating conditions began to gradually improve and we do see indications that this momentum is continuing," said President and CEO James Foote. Photo – csx.com

CSX yesterday announced first-quarter 2022 net earnings of $859 million, or 39 cents per share, compared to $706 million, or 31 cents per share, in the same period last year.

First-quarter operating income totaled $1.28 billion compared to $1.1 billion in the prior year. Revenue rose 21% to $3.41 billion, as an overall revenue-per-unit increase of 24% more than offset a 2% decline in volume, CSX officials said in a press release.

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Apr
18

STB approves CSX plan to acquire Pan Am Railways

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Apr
18

STB approves CSX plan to acquire Pan Am Railways

Rail News Home CSX Transportation 4/18/2022 Rail News: CSX Transportation
CSX officials expect to close on the acquisition on June 1. Photo – panamrailways.com/Ted Krug

The Surface Transportation Board late last week approved CSX's application to acquire Pan Am Systems and its short-line subsidiaries, including Pan Am Railways Inc.

CSX officials expect to close on the acquisition on June 1. Pan Am owns rail lines and provides rail service on a freight-rail network in New England, from Maine in the north to the Boston region in the south, and west to near Albany, New York.

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Mar
24

CSX to shareholders: Reject mini-tender offer by TRC

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Mar
24

CSX to shareholders: Reject mini-tender offer by TRC

Rail News Home CSX Transportation 3/24/2022 Rail News: CSX Transportation
CSX Corp. yesterday recommended that shareholders reject an unsolicited "mini-tender" offer by TRC Capital Investment Corp. to purchase up to 4 million shares of CSX common stock at $34.75 per share in cash.Shareholders should reject the offer because the price is 4.43% below the $36.34 closing price of CSX common stock on March 18, the last trading day before the mini-tender began, CSX officials said in a press release.The Class I is not affiliated with TRC and does not endorse its unsolicited offer, CSX officials said.The offer is also subject to a number of conditions, including TRC’s ability to secure sufficient financing to consummate the offer.CSX officials recommend that any shareholders who have tendered shares to TRC withdraw those shares by providing the written notice described in the offering documentation before the offer expires April 20."[We] urge shareholders to obtain current market quotes for their shares, to review the conditions to TRC’s mini-tender offer, to consult with their brokers or financial advisors and to exercise caution with respect to TRC’s mini-tender offer," CSX officials said.

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Jan
21

CSX posts higher Q4 revenue, cites growth in key business lines

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Jan
21

CSX posts higher Q4 revenue, cites growth in key business lines

Rail News Home CSX Transportation 1/21/2022 Rail News: CSX Transportation
CSX Corp. yesterday reported fourth-quarter 2021 net earnings of $934 million, or 42 cents per share, compared with $760 million, or 33 cents per share, in Q4 2020.The Class I posted an operating ratio for Q4 2021 of 60.1% compared to 57% a year earlier. Prior year results include a pre-tax charge of $48 million within other expenses, or 2 cents per share after-tax, related to the early retirement of debt, CSX officials said in a press release.Fourth-quarter revenue increased 21% to $3.43 billion, which CSX attributed to growth across all major lines of business, increases in other revenue and the inclusion of Quality Carriers Inc.’s results. CSX completed its acquisition of the bulk liquid chemicals truck transportation provider in Q2 2021.The railroad’s quarterly operating income rose 12% to $1.37 billion."As we enter 2022, we remain committed to providing our customers high quality service and creating additional capacity to help them address current supply chain challenges through the increased use of rail," said CSX President and CEO James Foote.

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Jan
05

CSX cites 'strong support' for Pan-Am merger

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Jan
05

CSX cites 'strong support' for Pan-Am merger

Rail News Home CSX Transportation 1/5/2022 Rail News: CSX Transportation
"This transaction will provide tremendous benefits for New England and enjoys widespread support from shippers in the region," said James Foote, CSX president and CEO. Photo – csx.com

CSX yesterday acknowledged "strong support" for its proposed acquisition of Pan Am Railways Inc., as indicated by comments from businesses, elected officials and stakeholders in five New England states.

The remarks — which came from officials in the states of New York, New Hampshire, Massachusetts, Connecticut and Maine —  are part of nearly 120 comments filed with the Surface Transportation Board (STB) in support of the merger, CSX officials said in a press release.

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Jan
03

CSX coal terminal explosion under investigation

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Jan
03

CSX coal terminal explosion under investigation

Rail News Home CSX Transportation 1/3/2022 Rail News: CSX Transportation
An explosion occurred on Dec. 30 at CSX’s Curtis Bay coal facility in Baltimore.The incident resulted in a failure of a coal transfer tower, CSX spokeswoman Sheriee Bowman said in an email.The cause of the incident remains under investigation, she said. All employees are accounted for and there were no injuries."Operations at CSX Curtis Bay Coal Piers have been temporarily suspended while engineering teams assess the extent of the damage," said Bowman. "In the meantime, coal shipments to Curtis Bay are being rerouted and we are working closely with impacted customers."

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Dec
08

CSX named to CDP's 'A' list for environmental actions

Rail News Home CSX Transportation 12/8/2021 Rail News: CSX Transportation
CSX announced yesterday that for the ninth consecutive year it has been named to global environmental nonprofit CDP’s "A List,” which recognizes companies for leadership in taking actions to address climate change.CDP evaluates companies based on their actions to cut emissions, mitigate climate risks and develop a low-carbon economy.CSX was the top U.S.-based Class I to achieve the recognition, CSX officials said in a press release. CSX and CN are the only two North American railroads to receive the ranking.The CDP assessment examines issues such as leadership on corporate environmental ambition, action and transparency as well as management of environmental risks and demonstration of best practices. Officials said the recognition is considered the “gold standard of corporate environmental transparency.”“Railroads are three-to-four times more fuel efficient that trucks, on average, and CSX is continually developing innovative solutions for further reducing emissions by converting freight from highway to rail,” said Executive Vice President and Chief Legal Officer Nathan Goldman.

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Nov
30

In memoriam: CSX senior executive and change agent Mark Wallace

Rail News Home CSX Transportation 11/30/2021 Rail News: CSX Transportation
Mark Wallace Photo – CSX

CSX Executive Vice President Mark Wallace died Nov. 28 following a battle with cancer. He was 52.

Wallace had moved into a strategic advisory role in June while he underwent cancer treatment. He joined CSX in spring 2017 as EVP of corporate affairs and chief of staff, and later was named EVP of sales and marketing in July 2018. He also served a stint as EVP and chief administrative officer.

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Nov
19

CSX, NCDOT open Carolina Connector intermodal terminal

Rail News Home CSX Transportation 11/19/2021 Rail News: CSX Transportation
At a grand opening ceremony held yesterday, officials with CSX and NCDOT, which shared construction costs, hailed the terminal opening as a positive development for both the regional economy and the nation's supply chain. Photo – NCDOT/CSX

The Carolina Connector (CCX) intermodal terminal has officially opened for business northeast of Raleigh, North Carolina.

The facility, which is considered one of the most technologically advanced facilities on the CSX network, will help relieve port and highway congestion by adding rail-to-truck transfer capacity for domestic and international container shipments, CSX officials said in a press release.

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Nov
16

CSX named to Dow Jones Sustainability North America Index for 11th straight year

Rail News Home CSX Transportation 11/16/2021 Rail News: CSX Transportation
CSX yesterday announced it’s been named to the Dow Jones Sustainability North America Index (DJSI North America) for 2021, the Class I’s 11th consecutive year on the list.CSX is the only U.S.-based railroad included in the index and the second Class I to announce its inclusion, the first being Canadian Pacific. The index represents the top 20% of North America’s 600 largest companies (as evaluated by S&P Global) that demonstrate sustainability initiatives. Dow Jones' corporate sustainability assessment evaluated the economic, environmental and social criteria for meeting index designation.CSX’s sustainability goals include reducing greenhouse gas emissions by 37.3% between 2014 and 2030, according to its website. CSX has already accomplished its goal of reducing emissions intensity by 6% to 8% in 2020, achieving 8.1% emissions intensity reduction and reaching the goal two years ahead of time."Our efforts have improved upon the emissions advantage rail provides as the most fuel-efficient mode of land-based transportation," said CSX President and CEO James Foote in a press release. "We continue taking action to further reduce emissions for the freight already moving on CSX and are committed to driving additional reductions through converting incremental volumes off the highway and onto CSX."

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Nov
12

CSX responds to STB letter regarding service issues

CSX has taken multiple steps to improve service while facing substantial headwinds during the pandemic, President and CEO James Foote wrote last week in response to Surface Board Transportation Chairman Martin Oberman's October letter detailing a series of service complaints.

"Our customer solutions department has not seen a recent increase in service inquiries and we were not aware of informal complaints increasing to your public affairs office," Foote wrote Nov. 2 to Oberman. "We serve more than 5,000 customer facilities and to address issues we need to know certain key facts: when, where and which customer facility."

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