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Railroads

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  • 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...

  • 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...

  • 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...

  • 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...

  • WASHINGTON, April 17- Oil train operators must have detailed information on hand about the possible risks of their cargo in case of an accident and perform more thorough checks before moving on the tracks, U.S. transportation officials said on Friday. U.S. officials have been wrestling with how to make oil train deliveries safer ever since a runaway shipment...

  • WASHINGTON, April 17- Oil train operators must have detailed information on hand about the possible risks of their cargo in case of an accident and perform more thorough checks before moving on the tracks, U.S. officials said on Friday. Shippers must account for who handled crude oil involved in any mishap and what the operator knows about the possible...

  • CHICAGO, April 15- Low oil prices and the strong U.S. dollar made for a somewhat painful first quarter for major U.S. railroads CSX Corp and Norfolk Southern Corp, and may continue to weigh on their profits. Chief Executive Officer Michael Ward told Reuters the reduced outlook reflected the impact of the strong dollar, low oil prices and the weak coal market.

  • CHICAGO, April 14- U.S. railroad CSX Corp on Tuesday reported a higher quarterly net profit on increased freight volumes and higher rates charged to customers, and announced a $2 billion share repurchase program. The Jacksonville, Florida- based company reported first-quarter net income of $442 million or 45 cents per share, an 11 percent increase over the $398...

  • CSX: Low fuel prices good for consumers   Tuesday, 14 Apr 2015 | 4:19 PM ET
    CSX: Low fuel prices good for consumers

    CSX reported Q1 EPS of $0.45 on revenue of $3.03 billion. Michael Ward, CSX Corporation Chairman and CEO, discusses the impact of energy costs to the first quarter.

  • CHICAGO, April 14- U.S. railroad CSX Corp on Tuesday reported a higher quarterly net profit, as a growing economy lifted freight volumes and allowed it to charge higher rates to customers. The Jacksonville, Florida- based company reported first-quarter net income of $442 million or 45 cents per share, an 11 percent increase over the $398 million, or 40 cents a share,...

  • Trading Nation: CSX dips ahead of earnings   Tuesday, 14 Apr 2015 | 2:35 PM ET
    Trading Nation: CSX dips ahead of earnings

    Discussing whether there is more downside ahead for rails, with Ari Wald, Oppenheimer, and David Seaburg, Cowen.