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Railroads

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  • Norfolk Southern 2Q profit rises 21 percent Wednesday, 23 Jul 2014 | 9:20 AM ET

    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.

  • ND wants specifics on backlogged grain shipments Tuesday, 22 Jul 2014 | 11:03 AM ET

    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.

  • Government doesn't find oil train safety too slick Friday, 18 Jul 2014 | 1:48 PM ET
    Firefighters battle blazes after a freight train loaded with oil derailed in Lac-Megantic, Quebec, on July 6, 2013.

    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.

  • NY railroad strike averted: Labor union Thursday, 17 Jul 2014 | 1:15 PM ET
    A Long Island Rail Road train sits at the platform in the Brooklyn borough of New York.

    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.

  • Railroads say up to 44 oil trains weekly cross NY Wednesday, 16 Jul 2014 | 11:25 AM ET

    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.

  • CSX railroad's 2Q profit chugs ahead 2 percent Tuesday, 15 Jul 2014 | 5:01 PM ET

    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.

  • Groups seek ban of oil in older railroad tank cars Tuesday, 15 Jul 2014 | 3:06 PM ET

    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.

  • LIRR, MTA talks go off the rails; strike looms Monday, 14 Jul 2014 | 1:36 PM ET
    Commuters board a Long Island Railroad train, Penn Station, New York City.

    Talks between unions and the MTA collapsed, leaving a strike on the LIRR looming as unions proceed with strike plans.

  • INFLUENCE GAME: Shaping US railroad safety rules Sunday, 13 Jul 2014 | 8:39 AM ET

    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.

  • New York won't keep oil train details secret Friday, 11 Jul 2014 | 4:32 PM ET

    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.

  • Report: Rail delays cost Minnesota farmers Thursday, 10 Jul 2014 | 11:25 AM ET

    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.