Railinc Corp. has joined the Blockchain in Transport Alliance (BiTA), a consortium of more than 250 transportation and logistics companies aiming to create a forum for the development of blockchain technology standards and education. Blockchain is a digital ledger technology capable of recording transactions and storing data in blocks across a distributed network. The technology "presents interesting opportunities for the freight-rail industry," said Railinc President and Chief Executive Officer Allen West in a press release. BiTA was formed in 2017. BNSF Railway Co. and Kansas City Southern recently became the first Class Is to join BiTA.
FreightCar America Inc. reported a first-quarter 2018 net loss of $6.4 million compared to net income of $600,000, or 5 cents per diluted share, in Q1 2017. Revenue in the quarter fell to $83 million from $140 million a year ago. FreightCar America delivered 1,094 rail cars in Q1 2018 compared with 1,525 rail cars Q1 2017. Although challenging industry dynamics "continue to put pressure on pricing," the company continues to focus on areas it can control, said President and CEO Jim Meyer in a press release. That includes implementation of its "back-to-basics" operational excellence program that began in Q4 2017. The company also is observing increased demand for rebuild capabilities as it relates to coal-car conversions, Meyer said.
Copyright
© © TradePress Media Group, Inc.