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Mar
19

In STB filing, CSX responds to critics of proposed Pan Am acquisition

Rail News Home CSX Transportation 3/19/2021 Rail News: CSX Transportation
Pan Am owns and operates a nearly 1,200-mile network and has a partial interest in the more than 600-mile Pan Am Southern rail system.Photo – Pan Am Railways

Opposition to CSX's proposed acquisition of Pan Am Railways is lining up, according to recent filings with the Surface Transportation Board (STB). 

This week, the Massachusetts Department of Transportation, the Massachusetts Bay Transportation Authority, various state lawmakers and the Vermont Rail System were among those expressing concerns about the impact the acquisition would have on rail competition in New England. 

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Mar
03

Maryland issues EA for Howard Street rail tunnel project

Rail News Home CSX Transportation 3/3/2021 Rail News: CSX Transportation
Following the public comment period, the project will require final approval under the National Environmental Policy Act before CSX can complete final engineering and obtain permits.Photo – Maryland Port Administration

The Maryland Department of Transportation and Maryland Port Administration (MDOT MPA) have released the environmental assessment (EA) for the reconstruction of the CSX-owned Howard Street Tunnel in Baltimore.

A public comment period on the assessment runs through March 30. The project consists of vertical clearance improvements along CSX's Interstate 95 corridor to allow trains transporting double-stacked containers to travel between Baltimore and Philadelphia.

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Jan
22

CSX revenue, net income falls in Q4, but OR sets a record

Rail News Home CSX Transportation 1/22/2021 Rail News: CSX Transportation
The Class I's operating ratio (OR) of 57% — compared with 60% a year earlier — set a fourth-quarter record.Photo – csx.com

CSX Corp. yesterday reported fourth-quarter 2020 net earnings of $760 million, or 99 cents per share, compared with $771 million, or 99 cents per share, in the previous year's same quarter.

The Q4 2020 net income included a $48 million charge, or 5 cents per share after tax, related to debt retirement.

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Dec
16

CSX designates Tennessee rail property a 'Select Site'

Rail News Home CSX Transportation 12/16/2020 Rail News: CSX Transportation
CSX has designated the Columbia Tennessee Rail Site one of the Class I's Select Sites.Located in Columbia, Tennessee, the 225-acre site is located one hour south of Nashville and 15 miles west of Interstate 65. It is adjacent to an established industrial park and is flanked by the Tennessee Southern Railroad and U.S. Highway 43. CSX interchanges with the Tennessee Southern Railroad, which is operated by Patriot Rail, on the northern end of Columbia.Patriot Rail and the city of Columbia and others already have made impactful contributions to the property's development, CSX officials said in a press release.Select Sites are development-ready properties along the CSX network where standard land use considerations and comprehensive due diligence items have been addressed. The sites are able to meet the needs of a wide variety of manufacturers, significantly reducing the time required to build facilities and ultimately bring products to market.The Columbia Tennessee Rail Site is the second site in the state to be designated a CSX Select Site, and only one of two dozen properties across the Class I's service territories to meet the selection criteria.

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Oct
22

CSX posts lower earnings, steady operating ratio in Q3

CSX Corp. yesterday reported third-quarter 2020 net earnings declined 14% to $736 million, or 96 cents per share, compared with $856 million, or $1.08 per share, in the same period a year ago.

Revenue for the quarter fell 11% to $2.65 billion, as intermodal volume growth was more than offset by declines in coal and merchandise volumes, as well as lower fuel surcharge revenue.

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Oct
12

CSX train derails in Georgia after Delta-related rains

Rail News Home CSX Transportation 10/12/2020 Rail News: CSX Transportation
Firefighters responded at to a 911 call indicating the train had derailed, was on its side and was taking on water.Photo – Gwinnett County Fire and Emergency Services, Facebook

Following heavy rains stemming from Hurricane Delta, a CSX train derailed yesterday, causing a fire and hazmat situation outside Atlanta.

Two CSX employees were transported to a local hospital with minor injuries, according to a statement from Gwinnett County Fire and Emergency Services. 

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Aug
03

CSX issues annual sustainability report

Rail News Home CSX Transportation 8/3/2020 Rail News: CSX Transportation
The report highlights the railroad's sustainability actions on safety, environment, people, communities and governance.Photo – CSX 2019 ESG report

CSX last week published its 2019 Environmental, Social and Governance (ESG) report, which highlights the railroad's sustainability actions on safety, environment, people, communities and governance.

The report addresses CSX's "record-setting" safety performance, achieving 2020 emissions reduction targets ahead of schedule, and CSX becoming the first Class I to operate at a fuel efficiency rate of less than one gallon of fuel per 1,000 gross ton miles for a quarter.

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Jul
23

CSX reports lower Q2 revenue across all markets

Rail News Home CSX Transportation 7/23/2020 Rail News: CSX Transportation
CSX Corp. yesterday announced second-quarter net earnings and revenue declines, as the Class I faced lower economic activity due to the COVID-19 pandemic.The company posted net earnings of $499 million, or 65 cents per share, versus $870 million, or $1.08 per share, for the same period in 2019.Second-quarter revenue tumbled 26 percent year over year to $2.26 billion due to volume declines, an unfavorable mix, decreases in fuel recovery, declines in coal pricing and lower other revenue, CSX reported in its financial statement. Those decreases were partially offset by pricing gains in merchandising and intermodal.Operating income plummeted 37 percent to $828 million compared to $1.31 billion in the same quarter in 2019.Expenses fell 19 percent to $1.43 billion, impacted by volume-related reductions, lower fuel costs and continued efficiency gains."I want to extend my gratitude to all of the CSX employees who kept the railroad running well during the most disruptive operating period I have seen in my career," said President and Chief Executive Officer James Foote in a press release.CSX's operating ratio for the second quarter was 63.3 percent, up from 57.4 percent a year ago.In their presentation to analysts, CSX officials said all markets were negatively impacted by the economic effects of the pandemic. By market, quarterly revenue declined year over year by 10 percent in chemicals, 13 percent in agricultural and food products, 9 percent in minerals, 11 percent in forest products, 8 percent in fertilizers, 24 percent in metals and equipment, 72 percent in automotive, 48 percent in coal, 18 percent in intermodal and 19 percent in "other."  

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Jul
20

CSX named 'best place to work' for disability inclusion

Rail News Home CSX Transportation 7/20/2020 Rail News: CSX Transportation
CSX has been recognized as one of the nation's best places to work by Disability:IN and the American Association of People with Disabilities (AAPD), the Class I announced last week.Receiving the award for the second consecutive year from those organizations is a testament to CSX's corporate values and commitment to diversity and inclusion, said CSX spokeswoman Sheriee Bowman in an email.First launched in 2015, the Disability Equality Index (DEI) is a comprehensive disability inclusion assessment tool designed and embraced by business leaders and disability advocates.
Developed by Disability:IN and the AAPD, the DEI enables the nation's leading corporations to self-report their disability policies and practices to be scored objectively by an independent panel.

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Jul
02

CSX awards contract for railroad car dumper system

Rail News Home CSX Transportation 7/2/2020 Rail News: CSX Transportation
CSX will use the system for the rotary dumping of loaded rail cars and for the unloading of bottom dump cars.Photo – metso.com

CSX has awarded a contract to Metso for the design, supply and installation of a rail-car dumper system that will be used to unload coal at the Curtis Bay Export Terminal in Baltimore.

The Metso Twin Cage Tandem Rotary Car Dumper System will include two complete dumper barrel assemblies, a complete hopper system with grizzlies, a unit train positioner operation and installation. The system is expected to be operational in October 2021, Metso officials said in a press release.

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Jun
25

Toyota honors CSX with logistics excellence award

Rail News Home CSX Transportation 6/25/2020 Rail News: CSX Transportation
Toyota Logistics Services has awarded CSX the motor vehicle maker's President's Award for Rail Logistics Excellence in 2019.The award — the automaker's highest supplier honor — recognizes a Toyota service partner that best demonstrates combined excellence in quality, customer service, continuous improvement and on-time performance, CSX officials said in an announcement posted on social media.In addition to the President's Award, CSX received the On Time Performance Award, Environmental Award and Kaizen Award.In 2019, CSX handled more than 300,000 vehicles for Toyota. Over their 30-year business relationship, CSX and Toyota have shared a mutual dedication to continuous improvement and collaboration."Working together, we ensure that the cars Toyota builds are transported across the country in a safe and reliable manner, while meeting Toyota's transit standards," said John Ahrens, director of automotive sales at CSX. "Our performance with Toyota is a great example of CSX's commitment to a positive customer experience and the positive impact on our auto industry customers."

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May
29

CSX recognized for 'Pride in Service' program

Rail News Home CSX Transportation 5/29/2020 Rail News: CSX Transportation
CSX has received a 2020 Halo Award for the Class I's "Pride in Service" initiative.Presented by the Engage for Good organization, the awards honor corporate social initiatives and cause marketing. CSX launched Pride in Service in 2018 to support and recognize military, veterans and first responder service members and their families.From connecting with families to bridge the civilian-military divide, to raising funds and participating in events, to writing letters of gratitude and packing care pouches, CSX employees have contributed nearly 5,000 hours to the cause and reached 85,000 individuals in the initiative's first full year, CSX officials said in a press release."At CSX, service is an integral part of our culture and we are so proud that one in five of our employees have served our country and communities, either in the military or as a first responder," said Nathan Goldman, CSX's executive vice president and chief legal officer.This is the 18th year that Engage for Good will honor businesses and nonprofits with Halo Awards.

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May
07

CSX, Conservation Fund issue grants to expand access to food

Rail News Home CSX Transportation 5/7/2020 Rail News: CSX Transportation
CSX and The Conservation Fund yesterday announced nine charities in seven states will receive grants ranging from $5,000 to $10,000 to improve their capacity to store and safely deliver food in their communities.Over the past six years, the Grant Program for Transporting Healthy Food, sponsored by CSX, has provided funding to 74 local food producers and distributors. The funding has supported their operations to purchase and expand vital infrastructure — such as mobile markets, cold storage units and packaging material — to better store, pack, transport and ultimately improve community access to fresh produce, dairy, meat or seafood.Overall, the grant program is projected to enable local food distribution organizations to collectively serve an additional 377,987 families with nearly 50 million pounds of food and increase the number of meals provided by more than 40 million.The grants will go to organizations in Connecticut, Indiana, Maryland, Michigan, New York, North Carolina and Virginia."CSX is proud to partner with The Conservation Fund on this important initiative to promote the distribution of fresh, healthy food to those in underserved communities," said John Kitchens, CSX's director of community investment, in a press release.The fund's grant program has provided nourishment to thousands of families and strengthened local food producers in some of the nation's most vulnerable communities, he said.This year's funding will enable the nine recipient organizations to collectively serve an additional 92,000 families with nearly 6 million meals. 

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May
06

CSX to end McKees Rocks intermodal operations

Rail News Home CSX Transportation 5/6/2020 Rail News: CSX Transportation
CSX opened the McKees Rocks intermodal terminal in 2017.Photo – mckeesrocks.com

CSX will discontinue intermodal operations at its McKees Rocks facility near Pittsburgh, and has reached an agreement with Shell to lease the 70-acre property.

Shell will use the site for a storage-in-transit (SIT) rail facility, CSX spokeswoman Sheriee Bowman said yesterday in an email.

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Apr
23

CSX reports lower Q1 earnings, withdraws 2020 outlook

CSX Corp. yesterday announced first-quarter 2020 net earnings fell 8 percent to $770 million, or $1 per share, compared to $834 million, or $1.02 per share, in the same quarter last year. The Class I withdrew its outlook for the year because of ongoing economic uncertainty over the COVID-19 pandemic.

Operating revenue fell 5 percent to $2.86 billion during the quarter, as growth in merchandise revenue was more than offset by declines in coal and other revenue. Expenses dropped 7 percent year over year to $1.68 billion, driven by efficiency gains, CSX officials said in a press release.

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Mar
20

CSX emissions intensity reductions goal approved by SBTi

Rail News Home CSX Transportation 3/20/2020 Rail News: CSX Transportation
CSX has become the first North American railroad to have its new greenhouse gas emissions intensity goals set and approved by the Science Based Target Initiative (SBTi), the Class I announced yesterday.The SBTi independently assesses corporate emissions reduction targets in line with what climate scientists say is necessary to meet the goal of limiting global warming to well below 2 degrees Celsius.CSX will reduce greenhouse gas emissions intensity by 37.3 percent between 2014 and 2030. The company expects future transformational technology to facilitate this next level of reductions and is extensively investing in technologies and operational practices that drive maximum achievable efficiencies, CSX officials said in a press release.In 2018, CSX achieved its goal to reduce emissions intensity by 6 percent to 8 percent by 2020, achieving an 8.1 percent emissions intensity reduction and reaching the goal set in 2012 two years ahead of plan.Reducing emissions is important to CSX and its customers. The railroad is the only U.S. Class I to have crossed the threshold of operating below one gallon of fuel-per-thousand gross ton miles, CSX officials said.CSX is pursuing opportunities for additional improvement as part of its commitment to sustainable business practices, they added.

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Feb
11

Indiana panel awards grant to connect industrial park to CSX line

Rail News Home CSX Transportation 2/11/2020 Rail News: CSX Transportation
The Indiana Economic Development Corp. (IEDC) will award up to $1 million to LaPorte County, Indiana, to help pay for a $6 million project to build a rail spur that will connect Kingsbury Industrial Park (KIP) to a CSX mainline.County officials announced the grant after reaching an agreement with state officials, according to a press release posted yesterday on BuildingIndiana.com. CSX has designated the industrial park a "Select Site" for prospective developers. Once the rail spur is completed, the industrial park will be one of the few to offer connections to two Class Is, said Redevelopment Commission President Randy Novak."Getting this connection to CSX in place is key to opening up KIP to the entire CSX logistics chain,” Novak said. "By now having the north/south rail spur at KIP connected on the south edge of the park to CSX, we’re also working hard at the getting the north end of the spur connected directly with the CN railroad that runs along the north side of the park."The grant will come from the Industrial Development Grant Fund, which provides assistance to communities making infrastructure investments in support of economic development. The incentives are performance-based, which means the county must meet certain milestones and deliverables to collect the funding.

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Jan
17

CSX posts lower Q4 earnings on lower volume

Rail News Home CSX Transportation 1/17/2020 Rail News: CSX Transportation
CSX net earnings and revenue declined in fourth-quarter 2019 versus the previous year's quarter due to lower volumes and a negative mix from coal market headwinds. The Class I also set a company fourth-quarter record with its operating ratio (OR).Net earnings in the quarter tumbled 9 percent to $771 million, or 99 cents per share, from $843 million, or $1.01 per share, in the previous year. Revenue fell 8 percent to $2.9 billion from $3.1 billion.Fourth-quarter expenses were down 9 percent year over year to $1.73 billion, driven by continued efficiency gains and volume-related savings. Operating income declined 8 percent to $1.15 billion compared to the same period last year.CSX's record operating ratio of 60 percent in the quarter compared with 60.3 percent a year ago.For full-year 2019, the Class I generated net earnings of $3.33 billion, or $4.17 per share, versus 3.31 billion, or $3.84 per share, in 2018, an increase of 1 percent and 9 percent, respectively. The company's full-year 2019 operating ratio of 58.4 percent represents a new U.S. Class I record, improving from last year's record result of 60.3 percent."The railroad has never run better and we are delivering great service to our customers," said President and Chief Executive Officer James Foote in a press release. "What is really amazing is how our employees stepped up to produce efficiencies during tough economic conditions."By business group, CSX reported the following fourth-quarter 2019 results:
• Coal volume: Domestic coal declined mostly because of fewer shipments of utility coal due to greater competition from natural gas. Export coal fell due to reduced international shipments of both thermal and metallurgical coal as global benchmark prices fell.
• Intermodal volume: Domestic and international intermodal fell primarily because of rationalization of low-density lanes.
• Merchandise volume: Chemicals were down due to reduced natural gas liquids, fly ash and sand shipments; ag and food products increased due to gains in ethanol, sweeteners and oils; automotive declined due to a reduction in North American production; minerals increased due to higher shipments for highway projects; forest products declined due to fewer pulpboard shipments; fertilizer gains on short-haul phosphate shipments were offset by declines in long-haul fertilizer shipments; and metals and equipment were down due to reduced steel, construction and scrap shipments.

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Dec
11

CSX CEO Foote: Next year affords an opportunity to leverage improved service to drive above-market growth

In November, Progressive Railroading asked each Class I chief executive officer to address questions pertaining to their 2020 outlook. CSX President and CEO James Foote in early December provided the following responses in an email.

What's your take on the potential for volume growth in 2020 after a difficult year for rail traffic in 2019? Are there certain commodities/business groups you feel pretty good about heading into next year? Which ones are you concerned about, and why? What, predominantly, do you believe will drive business growth in 2020?

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Dec
09

CSX, Maryland find extra funding for Howard Street Tunnel project

Rail News Home CSX Transportation 12/9/2019 Rail News: CSX Transportation
CSX and the state of Maryland have agreed to $100 million in additional funding needed to advance the expansion of the long-planned Howard Street Tunnel in Baltimore.In July, Maryland won a $125 million federal grant for the project, which will be conducted in partnership with CSX. The project calls for eliminating height restrictions in the 121-year-old tunnel to allow double-stack trains to move to and from the Port of Baltimore. The work will create double-stack clearance in the tunnel and under 22 bridges between Baltimore and Philadelphia.However, the grant that Maryland obtained in July was $103 million less than the state had requested for the $466 million project. Maryland Gov. Larry Hogan pledged to work with the railroad, which owns the tunnel, and other unnamed stakeholders to come up with the remaining amount. Now, the state and railroad have "identified a variety of state, private and federal formula sources to close the funding gap,” Maryland Transportation Secretary Pete Rahn wrote in a Nov. 25 letter to U.S. Transportation Secretary Elaine Chao, the Baltimore Sun reported last week.Previously, Maryland had proposed providing $147 million for the work, with CSX committing $91 million. Rahn's letter did not break down how much each entity or other stakeholders will contribute, according to the newspaper.“I am pleased to report that our efforts have paid off,” Rahn wrote. “At this point, the $466 million project is fully funded.”A CSX spokeswoman declined to say how much the Class I will pay toward the project until the state makes a public announcement, the newspaper reported.

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