Railroad News

CP derailment in British Columbia kills 3 crew members

A Canadian Pacific grain train derailed early yesterday near Field, British Columbia, resulting in the deaths of the train's three crew members.

The deceased were identified as conductor Dylan Paradis, engineer Andrew Dockrell and trainee Daniel Waldenberger-Bulmer, according to a statement issued by CP President and Chief Executive Officer Keith Creel.

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What does 2019 look like for the rail finance and leasing sector? Depends on who you ask

By Pat Foran, editor

Will business be better this year than it was last year? Will it be about the same? Worse? What are the key issues facing the rail finance and leasing sector in 2019? 

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Unifor Local 100 ratifies CN contract

Rail News Home Canadian National Railway - CN 2/1/2019 Rail News: Canadian National Railway - CN
image Unifor Local 100 members have ratified a new agreement with CN.Photo – unifor.org

Unifor Local 100 members have voted in favor of ratifying a new four-year collective agreement with CN.

The agreement — which covers 2,100 locomotive and freight-car mechanics, electricians and apprentices — represents a "breakthrough in improvements to benefits at CN," Unifor officials said in a press release.

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BNSF customers invested $3 billion in industrial developments in 2018

BNSF Railway Co. announced yesterday that plant construction and upgrade investments made by its customers in 2018 totaled nearly $3 billion.

Last year marked the eighth consecutive year that BNSF customers and local economic development organizations have invested more than $1 billion in a calendar year for new or expanded facilities, according to a BNSF press release.

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CN scores solid Q4 results, sets record capital spending for 2019

CN yesterday reported fourth-quarter revenue of CA$3.8 billion, up 16 percent compared with fourth-quarter 2017 results.

Operating income climbed 19 percent to CA$1.4 billion and adjusted diluted earnings per share jumped 24 percent to CA$1.49. Diluted earnings in fourth-quarter 2017 included a deferred income tax recovery of CA$2.35 per share resulting from the enactment of a lower U.S. corporate income tax rate, CN officials said in a press release.

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Cuomo threatens legal action against CSX over Whitesboro bridge concerns

[Editor's note: This story has been updated to include a statement from CSX.]

New York Gov. Andrew Cuomo is threatening legal action against CSX if the Whitesboro rail bridge in Oneida County is not rebuilt.

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CN, Unifor begin bargaining for new agreements

Rail News Home Canadian National Railway - CN 1/25/2019 Rail News: Canadian National Railway - CN
imageUnifor National Council 4000, CN and CN Transportation Ltd (CNTL) began bargaining in Montreal yesterday for five new collective agreements.The council represents 3,300 rail workers across Canada, including workers at CNTL and CN Savage Alberta Railway.The council's four Unifor committees will bargain together to achieve gains in work rules, wages and benefits, according to a press release issued by Unifor."Our hard working rail workers have made CN the profitable company that it is today and we will be seeking their fair share in wages and benefits in these negotiations," said Unifor National President Jerry Dias.Unifor is Canada's largest union in the private sector, representing 315,000 workers across multiple industries.

Contact Progressive Railroading editorial staff.

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NS: New records for Q4 operating income, full-year operating ratio

Norfolk Southern Corp. yesterday reported record fourth-quarter income from operations of $1.1 billion, up 27 percent compared with fourth-quarter 2017 and up 9 percent on an adjusted basis.

Net income shot up 44 percent to $702 million, earnings per share jumped 52 percent to $2.57, revenue rose 9 percent to $2.9 billion, volume increased 3 percent to 1.98 million units, railway operating expenses climbed 9 percent to $1.8 billion and the operating ratio improved 5.5 points to 62.8.

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NS appoints Cox to succeed Kesler as VP-taxation

Norfolk Southern Corp. has named Michael Cox vice president of taxation, effective March 1. He will succeed Robert Kesler, who is retiring.

Cox has held positions of increasing responsibility since he joined NS as assistant tax counsel in 2000. Prior to joining the company, he spent more than a decade in private industry and with the federal government, including serving as a trial attorney in the U.S. Department of Justice's tax division.

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CP reports 'strong performance' in 2018

Canadian Pacific yesterday announced record operating income of CA$874 million for the fourth quarter, a 28 percent increase compared with the same period in 2017.

CP's revenue for the quarter climbed 17 percent to CA$2 billion from CA$1.7 billion a year ago. Q4 diluted earnings per share (EPS) fell 43 percent to $3.83 from $6.77 a year ago, however adjusted diluted EPS rose 41 percent to a new quarterly record of $4.55 from $3.22 in 2017, according to a CP press release.

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UP set income record, advanced Unified Plan in Q4

By Jeff Stagl, Managing Editor

Union Pacific Corp. today reported record fourth-quarter net income of $1.6 billion and diluted earnings per share of $2.12, up 29 percent and 39 percent, respectively, compared with adjusted results for fourth-quarter 2017.

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NS fills board seat with Morgan Stanley's Kelleher

Rail News Home Norfolk Southern Railway 1/23/2019 Rail News: Norfolk Southern Railway
image Thomas KelleherPhoto – NS

Norfolk Southern Corp. has elected Thomas Kelleher as a board member, effective yesterday. He will serve as an independent director and join the board's finance and risk management committee.

Kelleher, 61, is president of global financial services and investment management firm Morgan Stanley. He also is chairman and chief executive officer of Morgan Stanley Bank N.A. Kelleher is responsible for Morgan Stanley's institutional securities business and wealth management.

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Wire and cable accessory suppliers share their latest wares

Offered by nVent, the ERIFLEX Flexibar Advanced flexible busbar, shown here, is installed in an electrical panel.Photo – nVent

nVent:
ERIFLEX

nVent offers an array of products, including nVent ERICO Cadweld, which is used for making exothermic welded connections on track. The company also offers the nVent ERIFLEX product line for electrical conduction and low voltage power distribution (AC/DC power conversion). Used across a range of industries, ERIFLEX products provide "unique advantages that are ideal for railways electrical systems, both onboard and trackside," the company said in an email.

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Amtrak orders 75 diesel locomotives from Siemens

The initial 75 Charger units will be used primarily on Amtrak’s long-distance service routes.Photo – Amtrak

Late last month, Amtrak awarded an $850 million contract to Siemens Mobility for 75 diesel locomotives as part of the railroad’s plan to replace its aging national network fleet.

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BNSF identifies two new 'Certified Sites'

BNSF Railway Co. has awarded its "Certified Sites" designation to two new industrial locations in Galesburg, Illinois, and Clovis, New Mexico.

The program identifies optimal rail-served sites for customer development along the Class I's network. To be considered for the designation, sites must undergo a thorough analysis that includes an evaluation of environmental and geotechnical standards, available utilities and site availability.

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KCS: Financial records in 2018, PSR in 2019

Today, Kansas City Southern reported record fourth-quarter revenue of $694 million, up 5 percent compared with the total in fourth-quarter 2017.

The Class I also registered record adjusted operating income of $248 million, up 4 percent, and record adjusted earnings per share of $1.56, up 13 percent  year over year. In addition, KCS’ operating ratio improved 0.9 points to 63.1, although the adjusted ratio inched up 0.3 points to 64.3.

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USDOT awards 2018 BUILD grants

A grant will be used to help fund the Coos Bay Rail Line rehab project.Photo – Port of Coos Bay

By Julie Sneider, Senior Associate Editor

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CSX set operating ratio record, ramped up revenue in Q4

By Jeff Stagl, Managing Editor

In the fourth quarter, CSX registered an operating ratio of 60.3, a 4.8 point improvement compared with its fourth-quarter 2017 ratio of 65.1 and a Q4 record, the Class I announced yesterday.

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From the editor: Our most-read news items of 2018

By Pat Foran, Editor

In our January 2018 issue, I wrote a column about E. Hunter Harrison’s passing — a big news story at the time since he had died Dec. 16, 2017. But by doing so, I didn’t get to share what had been the top news stories of 2017, at least according to our Daily News readers. So, I’ll get back to what I hope will become an annual tradition by relaying what I’ll call the Top 18 from ’18. These are the 18 Daily News stories that our ProgressiveRailroading.com readers clicked on the most often last year, ranked in order of total page views. It shouldn’t be surprising that items on Amtrak, CSX, Union Pacific Railroad, precision scheduled railroading (PSR) — or even Canadian Pacific’s holiday train — proved to be popular. Without further ado, here are the Top 18 from ’18, including the dates they ran:

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Locomotive makers expect relatively strong demand in 2019 for both new, rebuilt units

Part 1 : Locomotive makers expect relatively strong demand in 2019 for both new, rebuilt units

Shown: Tier IV locomotives in production at GE’s plant in Fort Worth, Texas.Photo – GE Transportation

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