BISMARCK, N.D.— Canadian Pacific Railway told a federal oversight board Friday that moving fertilizer for spring planting does not present a "significant challenge" for the railroad.» Read More
April 16- Railroad operator Kansas City Southern reported better-than-expected quarterly results as a bumper corn crop in 2013 led to higher grain shipments. Midwest to Mexico, Chief Executive David Starling said on a conference call with analysts.
April 16- Railroad operator Kansas City Southern reported a 10 percent rise in first-quarter revenue, helped by higher shipments in its agriculture business. Revenue rose to $607.4 million from $552.8 million, while revenue at the company's agriculture business jumped 40 percent.
CNBC's Dominic Chu provides insight on the action in road & rail stocks, as well as air freight & logistics stocks.
CSX Corp. stock declined more than 3 percent to $27.36 in afternoon trading Wednesday. Ward said the Chicago area's cold, snowy winter was especially problematic because all the major freight railroads connect in Chicago and commuter trains use some of the same rails. There is already a long-term plan in place to improve rail traffic through Chicago.
PIERRE, S.D.— A federal oversight board told Canadian Pacific Railway and BNSF Railway that they have until Friday to report their plans to ensure delivery of fertilizer shipments for spring planting of U.S. crops.
OMAHA, Neb.— Harsh winter weather slowed CSX railroad and contributed to a 14 percent drop in first-quarter profit, even as freight volume grew modestly. On Tuesday, the railroad based in Jacksonville, Fla., reported net income of $398 million, or 40 cents per share, in the quarter ending March 31. That's down from $462 million, or 45 cents per share, a year ago.
LONDON, April 15- Electro-Motive Diesel, the world's largest diesel locomotive manufacturer, has taken delivery of the first of four specially designed liquefied natural gas tenders ultimately destined for use on the Canadian National railroad.
The North Dakota Republican said BNSF Executive Chairman Matt Rose told him over the weekend that the railroad "will dedicate additional resources and crews to get fertilizer to North Dakota producers faster."
VENTURA, Calif.— California is preparing for an oil boom— brought in on rail cars. There are no pipelines that bring crude oil into California. According to the California Public Utilities Commission, five California refineries have facilities either about to come online or in the planning stages that will let them receive crude-oil deliveries by rail.
"My target date is as soon as possible," Foxx told a panel of the Senate Appropriations Committee when asked when the new standard would be ready. The Department of Transportation is responsible for mandating a new tank car design, but officials are counting on input from industry.
The Federal Railroad Administration had asked a freight rail industry advisory committee to make recommendations on whether two-man crews should be required, but the industry officials were unable to reach a consensus after working on the issue for months. The crew proposal was prompted by an accident last July in the town of Lac-Megantic in Quebec, Canada.
OTTAWA, April 3- Governments should require companies shipping crude oil by rail to carry enough liability insurance to make up for shortfalls in coverage carried by railways, the president of Canada's second-largest rail operator said on Thursday.
Gasoline prices have increased in part because of an ethanol price hike, but the national average will stay low this summer.
Discussing whether the U.S. really needs the Keystone XL oil pipeline, with Dennis Gartman of The Gartman Letter.
TORONTO, March 19- A record-shattering Canadian harvest, combined with one of the most frigid winters in decades, has created a grain-handling backlog that will not be cleared until next year, the head of Canadian National Railway said on Wednesday.
Carl Ice, CEO of BNSF Railway, shares his thoughts on the renaissance in the railroad industry as commodity shipping picks up steam after this winter's harsh weather. We handled half the growth that the industry had, says Ice.
Discussing whether the increase in oil shipments by railway in the U.S. is causing congestion on the rail for other commodities, with Tony Hatch, ABH Consulting. Also, a look at the investment environment for rail stocks.
Warren Buffett, Berkshire Hathaway Chairman & CEO, weighs in on the WSJ report saying there is a surge in oil being shipped by rail which is "sidetracking" other industries. Dan Gilbert, Quicken Loans founder & Chairman, weighs in.
*Trucker strike in Vancouver causing lumber backlog. TORONTO, March 12- Canadian National Railway Co, the country's biggest railroad operator, said on Wednesday it will meet the federal government's order to ship 500,000 tonnes of grain a week, but its chief executive said there would still be a severe backlog even under ideal conditions.
MOSCOW, March 8- Rosatom, Russia's state energy corporation, said on Saturday it would resume nuclear fuel shipments to Europe via Ukraine after Kiev lifted a ban imposed during anti-government protests earlier this year on transporting the hazardous material.