CALGARY, Alberta, May 21- Canadian Pacific Railway Ltd said that five tankers containing oil derailed on Tuesday morning near Jansen, Saskatchewan, and one of the cars spilled 575 barrels of crude, the largest of three spills for the company in two months.
CNBC'S Phil LeBeau has the latest details on transportation delays, as airlines cancel flights, bridges and tunnels close, and Amtrak closes nearly all its passenger rail services on the East Coast.
Lower natural gas prices, softer demand for thermal coal and more stringent regulations led fewer coal shipments in the third quarter but auto shipments remain strong, Michael Ward, CEO of railroad CSX, told “Squawk Box” on Wednesday.
Long a punch line for harried Northeast travelers, Amtrak has come to dominate commercial travel in the corridor connecting Washington, New York and Boston, and this summer its trains are packed, the New York Times reports.
The economy continues to grow slowly, and that should continue through the rest of the year, Jack Koraleski, Union Pacific CEO, tells CNBC’s “Squawk on the Street.”
U.S. demand for coal is at a 24-year low, and inventories are continuing to build as the global economy slows. Wilbur Ross, WL Ross & Company chairman/CEO, discusses whether investors should expect more trouble ahead for the commodity.
Jack Koraleski, Union Pacific president & CEO, explains why he projects another record year for his company. "Business is good, there is a lot of noise in the economy about sliding back, but we're not seeing that," he says.
The proliferation of fracking and the likelihood of a long-running, shale-gas boom are destined to make winners and losers out of a lot of industries beyond the energy sector.
The Canadian Pacific proxy fight is heating up as the clock ticks closer to May 17th. Hunter Harrison, former Canadian National president & CEO; Stephen Tobias, former Norfolk Southern vice chairman; and Bill Ackman, Pershing Square Capital founder & CEO, discuss.
CSX chief Michael Ward told CNBC's Squawk Box Wednesday that having "a very diversified portfolio of shipments" overcame a 14 percent decline in coal shipments in the first quarter.
Michael Ward, CSX Corporation chairman & president, discusses his company's better-than-expected first quarter results, and the outlook for the rails and the economy, with Carly Fiorina, former Hewlett-Packard chairman & CEO.