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Railroads

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  • Canada has promised to "harmonize" its regulations with the United States. The decision has angered the North American rail industry, but Transportation Secretary Anthony Foxx said his department believes it will stand up to any legal challenge. The Association of American Railroads, which has lawyers studying the rule, slammed the government for basing its...

  • OMAHA, Neb.— Warren Buffett's company said Friday its first-quarter profit jumped 10 percent on the strength of its railroad and insurance businesses. Berkshire Hathaway Inc. earned $5.16 billion, or $3,143 per Class A share, during the first three months of 2015. That's up from $4.71 billion, or $2,862 per Class A share, last year. Berkshire Hathaway officials do...

  • California port truckers end strike after four days Friday, 1 May 2015 | 5:36 PM ET

    LOS ANGELES, May 1- Southern California port truckers seeking recognition as employees rather than contractors ended a strike of freight-hauling companies on Friday after four days of picketing that drew attention to their cause but did little to disrupt cargo shipments. Several hundred drivers, backed by the Teamsters union, struck four trucking firms...

  • US, Canada set tough rail tanker safety rules Friday, 1 May 2015 | 2:17 PM ET
    Firefighters battle blazes after a freight train loaded with oil derailed in Lac-Megantic, Quebec, on July 6, 2013.

    After a series of fiery crashes, U.S. and Canadian regulators set tough new design standards on the rail cars used to ship flammable liquids.

  • New rules for rails   Friday, 1 May 2015 | 1:25 PM ET
    New rules for rails

    The federal government made a tough ruling on rail cars hauling crude and other flammable substances, reports CNBC's Morgan Brennan.

  • WASHINGTON/ NEW YORK, May 1- The United States and Canada on Friday announced long-awaited safety rules for trains carrying oil, as regulators seek to reduce risks after a series of explosive accidents that accompanied a surge in crude-by-rail shipments. Under the rules, announced by Canada's Minister of Transport, Lisa Raitt and U.S. Tank cars built after...

  • May 1- New safety rules governing oil-by-rail shipments in the United States will cost an estimated $2.5 billion to implement over the next two decades, according to a final proposal from the Department of Transportation on Friday. 49 CFR§ Speed Restriction: 40 $56 mln- $242 mln** $180 mln 174.310 mph speed limit in. 49 CFR Existing Tank Car $426 mln- $1.706 bln** $1.747...

  • WASHINGTON/ NEW YORK, May 1- Long-awaited new safety rules for trains carrying oil in the United States and Canada were announced on Friday as regulators seek to reduce risks after a series of explosive accidents accompanied a surge in crude-by-rail shipments in recent years. Canada's Minister of Transport, Lisa Raitt and U.S. "This stronger, safer, more robust...

  • US, Canada unveil rules to boost oil train safety Friday, 1 May 2015 | 10:30 AM ET

    The regulations are a long-awaited response to a series of fiery train crashes in the U.S. and Canada, including four so far this year. The most serious accident occurred in July 2013, when a runaway oil train derailed in Lac-Megantic, Quebec, just across the border from Maine, killing 47 people and destroying most of the town's central business district.

  • Improving US railways: Matt Rose   Friday, 1 May 2015 | 7:05 AM ET
    Improving US railways: Matt Rose

    Matt Rose, BNSF executive chairman, discusses the company's massive investment in railroad improvement, oil's impact on the business, and new rail regulations for the industry.

  • RPT-U.S., Canada ready oil train safety measures Friday, 1 May 2015 | 7:00 AM ET

    WASHINGTON, May 1- Canada's transport minister will be in Washington on Friday for a joint announcement with her U.S. counterpart aimed at harmonizing safety regulations on shipping crude oil by rail, a politically sensitive issue on both sides of the border. Transportation Secretary Anthony Foxx are expected to demand that railroad companies equip cars...

  • The fee would start at $175 and increase to $1,400 per car by 2018. It would raise an estimated $600 million to train first responders, clean up spills and relocate rail tracks around populated areas. Ron Wyden of Oregon told The Associated Press the intent is to offer "market-based" incentives for companies to improve safety. Transportation Secretary Anthony...

  • LOS ANGELES, April 29- Striking port truckers seeking recognition as employees rather than as independent contractors for their companies picketed a rail yard on Wednesday as they called again on the mayors of Los Angeles and Long Beach to weigh in on drivers' behalf. The four companies- Pacific 9 Transportation, Intermodal Bridge Transport, Pacer Cartage, and...

  • LONDON, April 29- By focusing on operational improvements, shipping companies are reducing fuel consumption, saving money and cutting greenhouse emissions, while continuing to increase the amount of freight transported. Maersk Line, the world's largest container carrier, cut fuel consumption by more than 13 percent between 2012 and 2014, while increasing...

  • Federal investigators have released hundreds of pages of records that offer new insight into the moments just before and after a 2013 oil train derailment near Casselton, North Dakota, that created a massive fire and forced 1,400 people to evacuate for several days. Interviews with the BNSF Railway workers operating the two trains in the derailment are...

  • LOS ANGELES, April 27- Tractor-trailer drivers who haul freight from the ports of Los Angeles and Long Beach went on strike against four trucking firms on Monday, demanding recognition as employees rather than contractors in a move reviving labor tension around the country's busiest cargo hub. Delegations of drivers notified the companies of their intent to...

  • LOS ANGELES, April 27- Tractor-trailer drivers who haul freight from the ports of Los Angeles and Long Beach went on strike on Monday against four trucking companies, a Teamster union official said, in a move that could revive labor tension at the nation's busiest cargo hub. Delegations of drivers notified the companies of their intent to strike at 6 a.m. Pacific...

  • LOS ANGELES, April 27- Truckers who haul freight from the ports of Los Angeles and Long Beach will go on strike against four ground-shipment companies on Monday, a Teamsters union official said, in a move that could revive labor tension at the nation's busiest cargo hub. Delegations of drivers planned to notify the companies of their intent to strike at 6 a.m....

  • CHICAGO, April 23- Union Pacific Corp is scrambling to cope with opposing trends across its network after a drop in freight volumes in the first quarter, the No. 1 U.S. railroad's top executive said on Thursday. All had been rosy for Union Pacific just months earlier, in the fourth quarter. A similar drop-off in coal has affected other railroads- CSX Corp, Norfolk...

  • CHICAGO, April 22- No. 1 U.S. railroad Union Pacific Corp on Thursday reported a higher quarterly net profit as lower fuel costs and pricing gains offset falling freight volumes, but results fell short of market expectations. Union Pacific saw the volume of coal on its rails fall 5 percent during the quarter. Omaha- based Union Pacific posted first-quarter net...