Railroad News

CSX cuts workforce by 3,700 so far in 2017

CSX Corp. has eliminated 2,700 jobs so far this year, as the Class I works through its transition to a more efficient operating plan, Chief Financial Officer Frank Lonegro told investors at a conference last week.

In addition to the 2,700 employees, CSX has eliminated 1,000 contractor and consultant positions, Lonegro said during a presentation at the Cowen & Co. Global Transportation Conference held in Boston.

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CSX listening session postponed due to hurricane threat

The National Hurricane Center's latest projected track of Hurricane Irma has prompted the Surface Transportation Board (STB) to postpone its Sept. 12 listening session concerning CSX's rail service issues, the board announced yesterday.

The center has projected landfall in southern Florida early on Sept. 11. CSX's headquarters are based in Jacksonville, Fla.

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CSX publishes 2016 corporate responsibility report

CSX Corp. late last week released its seventh annual corporate social responsibility report documenting the Class I's performance in environmental, social and governance areas.

Titled "Moving Forward," the report highlights the company's 2016 business practices aimed at creating customer value, increasing shareholder returns, improving the environment and enhancing the communities that the railroad serves, CSX officials said in a press release.

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Judge dismisses CSX lawsuit over Alabama fuel tax

3/31/2017    

Rail News: CSX Transportation

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MercuryGate links with CSX's RailPlus

9/6/2016    

Rail News: CSX Transportation

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CSX designates Indiana business park a 'Select Site'

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.

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CSX to build intermodal terminal in North Carolina, serve inland port in Georgia

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.

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CSX, North Carolina announce pact for direct intermodal rail service

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.

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CSX dubbed 'best place to work' based on disability inclusion practices

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.

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CSX: Q2 revenue down 12 percent due to lower volumes

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.

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STB: CSX must report blocked crossings on Chicago rail line

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.

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Wainwright/TVS plans second facility to serve South Carolina port

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.

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CSX releases social responsibility report, rates another IT workplace ranking

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.

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CSX makes senior leadership changes

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.

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Lonegro: CSX expects full-year earnings decline

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.

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CSX named to 'Best Citizens' list

CSX has been named one of Corporate Responsibility Magazine's "Best Corporate Citizens" for 2016, marking the Class I's fourth appearance on the list.

CSX placed No. 47 on this year's list, and was the only railroad included in the ranking, according to a company press release.

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SC Ports Authority, CSX discuss need for second inland port facility

The South Carolina Ports Authority (SCPA) on Wednesday announced plans for a second inland port facility as a result of the success of its Inland Port Greer and the demand for more efficient international container movement between the Port of Charleston and growing markets in South Carolina and North Carolina.

Port officials are in discussions with CSX to determine the viability of Dillion, S.C., as a potential location for the next inland port, said SCPA President and Chief Executive Officer Jim Newsome in a press release. The parties hope to finalize plans by year's end, he said.

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CSX Q1 revenue, profit fall as coal shipments plummet 31 percent

CSX Corp.'s first-quarter 2016 revenue fell 14 percent to $2.62 billion compared with Q1 2015 revenue as the Class I faced continuing volume declines, particularly in the coal market, executives announced yesterday.


Q1 earnings fell to $356 million, or 37 cents per share, compared with $442 million, or 45 cents per share in the same period a year ago, according to a CSX press release.

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First trains arrive at Jacksonville port's new intermodal facility

The first trains arrived yesterday at the Jacksonville Port Authority's (JAXPORT) new intermodal container transfer facility at Dames Point in Jacksonville, Fla.

Prior to the facility's official opening for commercial cargo later this year, the terminal is being used to support the port-based 832nd Transportation Battalion's military training exercises, port authority officials said in a press release.

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CSX to streamline operations in Kentucky

CSX announced yesterday that it would lay off employees and trim costs in Russell, Ky., in response to declining coal volumes, a spokeswoman for the Class I said yesterday.

CSX will lay off 101 union and management employees in the transportation and mechanical departments at the rail yard and mechanical car shop in Russell, Ky., CSX spokeswoman Melanie Cost said in an email. About 430 employees work in Russell.

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