Railroad News

USDOT awards RAISE grants to fund rail projects in Washington

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Canadian Pacific launches debt offering in U.S., Canada

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Canadian Pacific launches debt offering in U.S., Canada

Rail News Home Canadian Pacific 11/18/2021 Rail News: Canadian Pacific
image Canadian Pacific is issuing a debt offering in the United States and Canada. The net proceeds will be used to help fund CP's acquisition of Kansas City Southern. In the United States, CP is issuing $1.5 billion of 1.35% notes due 2024, $1 billion of 1.75% notes due 2026, $1.4 billion of 2.45% notes due 2031, $1 billion of 3.0% notes due 2041 and $1.8 billion of 3.1% notes due 2051, which will be guaranteed by CP, according to a company press release. The U.S. offering is due to close Dec. 2. In Canada, CP is issuing CA$1 billion of 1.589% notes due 2023 and CA$1.2 billion of 2.54% notes due 2028, which will be guaranteed by CP. The Canadian offering is expected to close Nov. 24.
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Rail supplier news from Stadler, Alstom and STV (Nov. 17)

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Long Island Rail Road opens first new station in 50 years

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Ports of L.A., Long Beach delay consideration of container dwell fee

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Progressive Railroading hires Connatser, Kavanaugh

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CREATE partners mark completion of Metra-CP crossover upgrades

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FTA grant funds available for transit mobility, innovation projects

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CN listed on Dow Jones Sustainability World Index for 10th consecutive year

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CN listed on Dow Jones Sustainability World Index for 10th consecutive year

Rail News Home Canadian National Railway - CN 11/17/2021 Rail News: Canadian National Railway - CN
image CN today announced it has been included on the Dow Jones Sustainability World Index (DJSI World) for the 10th consecutive year, and is also on the North America Index for the 13th straight year. The world index represents the top 10% of the world’s 2,500 largest companies (as evaluated by S&P Global), while the North America index represents the top 20% of North America’s 600 largest companies that demonstrate sustainability initiatives. Dow Jones' corporate sustainability assessment evaluated the economic, environmental and social criteria for meeting index designation. CN’s environmental, social and governance (ESG) targets and goals include the following:
• Reduce Scope 1 and 2 greenhouse gas (GHG) emissions by 43% per million gross ton miles and reduce Scope 3 GHG emissions from fuel- and energy-related activities 40% per million gross ton miles by 2030 from a 2019 base year;
• Interim 6% intensity-based reduction in locomotive GHG emissions by 2022 from a 2017 base year;
• Reduce Criteria Air Contaminants intensity by 6% by 2022 from a 2017 base year;
• Eliminate serious injuries and fatalities from the workplace and reduce train accidents;
• Attain by 2022 and thereafter maintain an executive management team in which at least 30% are women; and
• Attain by 2022 and thereafter maintain a board composition in which at least 50% of the non-management board members come from diverse groups "Our inclusion in the Dow Jones Sustainability indices for both North America and the world validates our ongoing commitment to be a sustainability leader and is the result of the hard work and dedication of our railroaders," said CN President and CEO JJ Ruest in a press release. "We will continue to take meaningful steps towards our goal to be the safest and most carbon‑efficient, operationally effective and customer‑centric railroad in North America."
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BNSF to STB: Extend CP-KCS comment period to assess impact on Mexico

Rail News Home BNSF Railway 11/17/2021 Rail News: BNSF Railway
image BNSF Railway Co. has asked the Surface Transportation Board (STB) to extend its the proposed timeline for making comments on or objections to Canadian Pacific's application to acquire Kansas City Southern. In a Nov. 12 filing with the board, BNSF says that the proposed 90-day comment period (and Jan. 27, 2022 deadline) is not enough time to address one of the central issues in the proposed acquisition, which is how competition, rate-setting and regulation will affect U.S. shippers involved in transborder movements into and out of Mexico. "This issue has important implications for U.S. grain shippers in competition with counterparts in Canada, for rail shippers on other U.S. rail networks that compete for access to Mexican origin and destination markets and for communities on rail lines that will be affected by the supposed growth in transborder traffic," BNSF officials state in their filing. The CP-KCS application provides scarce information on the Mexican portion of the proposed transborder flow of freight, according to BNSF. "As a result, the Board and interested parties will need to develop this information (or applicants will need to supplement or refile their application to include this information) in order to assess the benefits that applicants claim will result from these new cross-border movements, along with any potential harms to U.S. shippers of transborder freight that may result from competitive conditions in Mexico," BNSF's filing states. BNSF asks the STB to extend the comment deadline for another 60 days so that it and "other interested parties" can analyze the impact of new single-line service to Mexico. To view BNSF's filing, click here.
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BNSF to STB: Extend CP-KCS comment period to assess impact on Mexico

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Rail supplier news from Brookville, Stadler, Remark and Alstom (Nov. 16)

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Wabtec publishes 2021 sustainability report

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Metra OKs $13 million station renovation contract

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OIG: Many Amtrak engineers didn't meet physical exam requirements

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FTA unveils transit infrastructure funding priorities

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STB advances rate review rules for small rate disputes

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CSX named to Dow Jones Sustainability North America Index for 11th straight year

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