NEW YORK, July 23- The U.S. Department of Transportation on Wednesday proposed new safety rules for hauling crude oil by rail after a string of explosive accidents, in a move that could impact railroads, drillers, refiners and railcar makers amid an energy boom.» Read More
NORFOLK, Va.— Norfolk Southern executives are optimistic about the economy after delivering a 21 percent rise in second-quarter profit as the railroad hauled more freight. The Norfolk, Virginia- based railroad reported net income of $562 million, or $1.79 per share, in the quarter.
*2nd- qtr net profit $1.79/ shr vs est $1.74. July 23- U.S. railroad operator Norfolk Southern Corp reported a better-than-expected second-quarter profit, helped by higher volumes across its businesses as the economy improves.
BISMARCK, N.D.— North Dakota's congressional delegation is pressing Canadian Pacific Railway to provide details of its backlog of grain shipments, saying farmers need detailed information with fall harvest fast approaching. But Sen John Hoeven, R- N.D., Sen. Heidi Heitkamp, D- N.D., and Rep.
TORONTO, July 21- Canadian National Railway Co, the country's largest rail operator, reported a big spike in profit on Monday as it moved record volumes of goods and made a swift recovery from last quarter's brutal winter weather.
TORONTO, July 21- Canadian National Railway Co, the country's largest rail operator, reported a big jump in profit on Monday and bolstered its 2014 financial outlook, reflecting a swift recovery from last quarter's tough winter weather.
HOUSTON, July 21- California refiners remain far behind peers elsewhere in the country in replacing expensive imports with cheaper North American crudes from a new production boom. More than half of the 1.7 million barrels of crude processed by California refineries each day is imported, largely from Saudi Arabia, Ecuador, Iraq and Colombia.
The Obama administration is rolling out a series of reforms including lower speeds and thicker walls to improve rail safety. Biz isn't happy.
WASHINGTON, July 18- North Dakota's Bakken oil patch has thrived thanks in large part to the once-niche business of hauling fuel on U.S. rail tracks.
July 18- Railroad operator Kansas City Southern reported higher-than-expected quarterly revenue as it shipped more agriculture products and automobiles. Kansas City Southern operates on a unique, north-south route in central U.S. and derives half of its annual revenue from cross-border business with Mexico.
July 18- Railroad operator Kansas City Southern reported higher quarterly net income and revenue, helped by a jump in agriculture and automotive shipments. Net income available to common stockholders jumped to $129.8 million, or $1.18 per share, in the second quarter ended June 30, from $15.4 million, or 14 cents per share, a year earlier.
TORONTO, July 17- Canadian Pacific Railway Ltd reported stronger-than-expected results on Thursday, and said rising freight volumes and prices should push already record results to new highs later this year. The shares of the Calgary- based railway, which have risen some 20 percent since its last quarterly report, surged as much as 4.7 percent on the news.
A strike on New York's Long Island Rail Road has been averted after a tentative agreement was reached, a labor union said on its website.
ALBANY, N.Y.— As many as 44 trains a week, each loaded with at least a million gallons of volatile crude oil from North Dakota's Bakken region, move through upstate New York, according to documents released Tuesday by the state.
OMAHA, Neb.— CSX Corp. said Tuesday its second-quarter profit chugged ahead 2 percent as the economy continued to improve, so the railroad is investing an additional $100 million in its network.
SEATTLE— Two environmental groups are asking the U.S. Department of Transportation to immediately ban shipments of volatile crude oil in older railroad tank cars, citing recent explosive oil train wrecks and the department's own findings that those accidents pose an "imminent hazard."
WASHINGTON, July 14- Leaders of the U.S. energy and rail sectors have agreed to toughen tanker cars for future oil train cargo and to a schedule to retire older model cars that regulators have deemed unsafe, said two industry sources familiar with the plan. The Transportation Department is expected to outline that safety plan before the end of the month.
Talks between unions and the MTA collapsed, leaving a strike on the LIRR looming as unions proceed with strike plans.
Billions of dollars are riding on how these rules are written, and lobbyists from the railroads, tank car manufacturers and the oil, ethanol and chemical industries have met 13 times since March with officials at the White House and the Pipeline and Hazardous Materials Safety Administration.
ALBANY, N.Y.— New York's homeland security agency is refusing requests from freight railroads to further restrict public information about their crude oil shipments, concluding it's not sensitive security information and will be given to local emergency planners.
MINNEAPOLIS— Delays in railroad shipping have cost Minnesota corn, soybean and wheat farmers nearly $100 million and cut deeply into the value of grain still in storage at farms across the state, according to a University of Minnesota report released at an agricultural freight conference Thursday.