Railroad News

10/28/2016    

Rail News: CSX Transportation

10/25/2016    

Rail News: CSX Transportation

10/13/2016    

Rail News: CSX Transportation

9/26/2016    

Rail News: CSX Transportation

9/15/2016    

Rail News: CSX Transportation

9/14/2016    

Rail News: CSX Transportation

9/8/2016    

Rail News: CSX Transportation

9/6/2016    

Rail News: CSX Transportation

CSX will begin transporting more and longer trains at faster speeds between Seymour and Butlerville, Ind., as early as Sept. 7, the Class I announced Monday.

The changes are aimed at improving capacity and efficiency along the corridor, CSX officials said in a press release.

Wallenius Wilhelmsen Logistics (WWL) has moved the first shipment of new 2017 Infiniti QX30 premium active crossovers for distribution in the southeast United States through Jacksonville Port Authority's (JAXPORT) Blount Island Marine Terminal, which is served by CSX.

About 1,000 of the vehicles recently arrived at the port from the manufacturer's plant in Sunderland, England. The vehicles are being processed at WWL's on-terminal site at Blount Island before being shipped throughout the southeast, according to a JAXPORT press release.

CSX announced yesterday that part of the Lebanon Business Park in Indiana has been designated a CSX "Select Site," a development-ready property along the Class I's network.

In 2010, CSX partnered with the city of Lebanon on a $4 million project to construct a spur that brings rail service directly into the park.

North Carolina Gov. Pat McCrory last week announced CSX plans build the Carolina Connector (CCX) intermodal terminal in Rocky Mount. The Class I previously had planned to construct a terminal in another part of the state.
 
Initially, the CCX is expected to process more than 260,000 containers per year. CSX plans to provide $160 million for the more than $200 million terminal. The North Carolina Department of Transportation will contribute $100 million for track improvements and terminal infrastructure through the state’s new transportation funding formula.
 
The CCX is expected to open in 2020, with related track improvements projected to take two years to complete after all necessary environmental permits are obtained. Carolinas Gateway Partnership, a local economic development organization, controls nearly all of the land needed for the facility, which is located along CSX’s mainline in a primarily industrial area.

The CCX will provide cheaper, faster and more environmentally friendly connections for North Carolina’s businesses and ports to domestic and international markets, said CSX Chairman and Chief Executive Officer Michael Ward in a press release.

A new intermodal rail service will serve the Port of Wilmington and CSX's intermodal terminal in Charlotte, N.C., Gov. Pat McCrory and the North Carolina Department of Transportation announced yesterday.

The "Queen City Express" will be the only direct freight-rail service into the greater Charlotte area from a Southeast port, McCrory said in a press release.

CSX has been determined a "best place to work" according to the 2016 Disability Equality Index (DEI), the Class I announced yesterday.

The railroad received a company-record score of 90 percent on the index, which tracks indicators of corporate disability inclusion, such as access, employment practices, culture and leadership, and community engagement and support services, CSX officials said in a press release.

CSX Corp.'s second-quarter 2016 revenue declined 12 percent to $2.7 billion, driven by a 9 percent decrease in volume that affected all markets but especially coal, which plummeted more than 30 percent.

The company yesterday posted Q2 net income of $445 million, or 47 cents per share, down from $553 million, or 56 cents per share, in the same period last year.

CSX will need to submit monthly reports for the next year that detail situations in which grade crossings are blocked by trains on its line in southwest Chicago and adjacent suburbs, the Surface Transportation Board (STB) ruled last week.

The STB ordered that CSX can’t operate trains into or out of the Chicago terminal over the Elsdon Line unless the line is clear, according to the agency's decision.

Wainwright Industries/TVS Supply Chain Solutions South Carolina plans to build a second facility in Charleston, S.C., to serve increasing demand for third-party logistics and supply-chain services.

Wainwright will build a 212,000-square-foot, CSX-served facility to provide warehousing and logistics for some of the South Carolina Ports Authority's (SCPA) key market segments, including forestry products, which represent 15 percent of the port's cargo volume. Wainwright's existing Ladson facility serves the automotive segment.

CSX Corp. released its sixth annual Corporate Social Responsibility Report yesterday.

Titled “Moving Forward,” the report outlines the Class I’s past performance and future goals in five key areas: business performance and governance; safety and security; employees; environment; and community. The report was prepared in accordance with the Global Reporting Initiative G4 Sustainability Reporting Guidelines, CSX officials said in a press release.

CSX Chairman and Chief Executive Officer Michael Ward late last week announced several senior leadership changes, including the July 1 retirement of Lisa Mancini, the Class I's executive vice president and chief administrative officer.

The company is realigning its senior team to advance its vision for the workforce, service, productivity and technology of the future, CSX officials said in a press release.

CSX Corp. Executive Vice President and Chief Financial Officer Frank Lonegro updated investors and analysts yesterday on the company's second-quarter and full year expectations, as well as plans to continue managing a transition in its business mix.

For the second quarter, CSX expects high-single digit volume declines, which will negatively affect earnings for the quarter. In addition, market forces are expected to offset gains in safety, service, pricing and efficiency, resulting in CSX's first full-year earnings decline since the recession, according to a CSX press release.