Railpace Hot News
Keep up to date on the latest railroad news from the northeastern United States and Canada, edited by Carl Perelman.
November 3, 2020
Reading & Northern Establishes New Rail-Truck Transload Facility
Reading and Northern (RBMN) is pleased to announce
the first cars have been unloaded at its newest rail-truck transload at NorthStar/BlueScope
(NSBS), Delta, Ohio.
November 3, 2020
CP Announces Best-Ever Month For Canadian Grain Transport
Canadian Pacific set a new record for shipping Canadian grain and grain products in October, with 3.04 million metric tonnes (MMT) moved, the first time ever CP has exceeded 3 MMT in a month. This exceeds the highest-ever record for a month, set in April 2020, by 6.9 percent. It also betters the previous October record of 2.66 MMT, set in 2019, by 14.2 percent.
November 2, 2020
U.S. Department of Transportation Expands Eligibility and Provides More Flexibility Under Streamlined Rail Financing Program
The U.S. Department of Transportation announced that it will expand eligibility and provide more flexibility for a pilot program to expedite long-term, low-cost loans for America’s short line and regional railroads. The Railroad Rehabilitation and Improvement Financing Express (RRIF Express) is aimed at reducing the time and costs associated with securing loans to modernize aging freight and commuter rail infrastructure.
October 30, 2020
LIRR’s Leaf-Fighting Technology Gets Stronger and Faster
MTA Long Island Rail Road (LIRR) today announced that its industry-leading laser train is working even faster and harder to battle the danger of fallen leaves on the tracks. The LIRR has added another laser train and increased the speed to 25 mph, up from 15 mph, covering more of the system and minimizing the number cars from being taken out of service during the fall season.
October 29, 2020
U.S. Secretary of Transportation Elaine L. Chao Announces $291 Million in ‘State of Good Repair’ Grants to Improve the Reliability and Safety of America’s Rail Network
U.S. Secretary of Transportation Elaine L. Chao today announced an investment of more than $291 million in grants for 11 intercity passenger rail projects in nine states through the Federal-State Partnership for State of Good Repair Program (Partnership Program). The Partnership Program is intended to improve intercity passenger rail performance by funding capital projects to repair, replace or rehabilitate publicly owned or controlled railroad assets, thereby bringing them into a state of good repair.
October 28, 2020
Norfolk Southern Reports Third Quarter Results
Norfolk Southern Corporation today reported financial results for the quarter ended September 30, 2020. During the quarter, the company achieved net income of $569 million, diluted earnings per share of $2.22, and an operating ratio of 66.5%.
October 28, 2020
Rail Traffic for the Week Ending October 24, 2020
The Association of American Railroads (AAR) today reported U.S. rail traffic for the week ending October 24, 2020. For this week, total U.S. weekly rail traffic was 522,653 carloads and intermodal units, up 1.9 percent compared with the same week last year.
October 27, 2020
Toronto Transit Commission Board endorses Fleet Procurement Strategy and Plan
The Toronto Transit Commission Board approved a $550-million investment in new vehicles and transit system upgrades made possible by Toronto’s City Building Fund.
October 26, 2020
CSX Corp. Announces Third Quarter 2020 Financial Results, Authorizes Additional $5 Billion Share Buyback
CSX Corp. announced third quarter 2020 net earnings of $736 million, or $0.96 per share, versus $856 million, or $1.08 per share in the same period last year. Despite lower economic activity resulting from the COVID-19 pandemic, CSX’s operating ratio of 56.9 percent remained in line with the prior year’s record results.
October 26, 2020
NS Announces New Technology Platform
Norfolk Southern, GATX Corporation, Genesee & Wyoming, TrinityRail, and Watco announced a venture to create a new technology platform that will help transform rail shipping in the 21st century. The new venture, Rail Pulse, will facilitate and accelerate the adoption of GPS and other telematics technology across the North American railcar fleet.
