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CSX to speed up trains on Alabama-Georgia line

Rail News Home CSX Transportation 5/30/2019 Rail News: CSX Transportation
image Effective June 1, CSX will increase the authorized freight train speed from 25 mph to 40 mph at multiple locations on its line from Alabama to Georgia.Photo – CSX Facebook

Effective June 1, CSX will increase the authorized speed of freight trains by 15 mph at multiple locations on its line from Montgomery, Alabama, to Waygross, Georgia. 

The increase from 25 mph to a maximum 40 mph will help reduce wait times for motorists at highway-rail intersections and improve the efficiency of rail operations, CSX officials said in a press release. 

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Lonegro departs CSX; Boone named interim CFO

Rail News Home CSX Transportation 5/29/2019 Rail News: CSX Transportation
image CSX Corp. announced yesterday that Executive Vice President and Chief Financial Officer Frank Lonegro has left the company. Vice President of Marketing and Strategy Kevin Boone will serve as interim CFO, company officials said in a press release.CSX President and Chief Executive Officer Jim Foote thanked Lonegro for his leadership and contributions to the Class I for 19 years. Since joining CSX in 1999, Lonegro served stints as president of CSX Technology, vice president of mechanical, VP of internal audit and associate general counsel."Over the last few years, Frank has played a key role in helping create significant value for CSX shareholders," Foote said.Lonegro stated: "It has been a distinct privilege to work alongside the great professionals at CSX, especially through the recent transformation, which has set the company on an unparalleled path to success.”CSX has initiated a search for Lonegro's replacement, with Boone serving in the role until a permanent CFO is named.Boone joined CSX in September 2017 as VP of corporate and chief investor relations officer. Most recently as VP of marketing and strategy, Boone led a new marketing team focused on fundamental market research and data analysis to identify and advance high-priority growth strategies, CSX officials said.

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CSX taps Bezar to serve as senior VP, chief of strategy

Rail News Home CSX Transportation 5/22/2019 Rail News: CSX Transportation
image Farrukh BezarPhoto – csx.com

CSX Corp. has appointed Farrukh Bezar senior vice president and chief strategy officer as of May 29.

Bezar joins CSX with more than 25 years of strategic leadership in transportation and logistics. Most recently, he served as founder and managing partner of Lynwood Partners, a transportation and logistics advisory firm.

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CSX recognizes 70 shippers for hazmat safety

Rail News Home CSX Transportation 5/15/2019 Rail News: CSX Transportation
image CSX Corp. recently honored 70 customers with the company's Chemical Safety Excellence Award for being committed to the safe transportation of hazardous materials.Each year, the award honors customers who safely ship more than 600 carloads of hazardous materials during the prior year without a release due to controllable factors. Now in its 25th year, the program recognizes customers committed to safe procedures, such as securing valves and closures properly, and safe loading."We work with our customers to make rail the safest choice to move freight over land," said Dean Piacente, CSX vice president industrial products, in a press release.For 2018, CSX recognized five shippers that successfully achieved 10 or more consecutive years of safety excellence: Aux Sable Liquid Products Inc.; Cargill; Kemira; Nouryon Chemicals LLC; and SABIC Americas Inc.To read the names of the other honorees, click on this link.

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CSX reports record Q1 results, OR falls below 60

CSX yesterday posted record results for the first quarter, including an operating ratio (OR) that fell below 60 percent.

Net income during the quarter soared 20 percent to $834 million, or $1.02 per share, versus $695 million, or 78 cents per share a year ago.

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