Road and Rail
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BILLINGS, Mont.-- A Montana trucking company will pay penalties of $83,500 to settle pollution violations stemming from a fuel tanker crash that spilled 6,300 gallons of gasoline near Flathead Lake, federal regulators said Tuesday.
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CONCORD, N.H.-- Repairing New Hampshire's deteriorating roads and bridges must be a priority for lawmakers, according to testimony at a Senate hearing Tuesday, but opinions were split over where the money should come from: higher taxes at the pump or proceeds from a long-debated casino.
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*Iraq hopes to trans-ship goods to Europe. BAGHDAD, May 8- In a shabby, rusty train that had just left Baghdad for the southern city of Basra, Riyadh Saleh moved restlessly from carriage to carriage, searching for a comfortable, air-conditioned seat.
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NEW YORK-- Shares of C.H. Robinson Worldwide Inc. tumbled Wednesday after the trucking company posted a lower-than-expected first-quarter profit. THE SPARK: C.H. Robinson posted a profit of $103.3 million, or 64 cents per share, down 3 percent from $106.5 million, or 65 cents per share, in the same quarter of 2012..
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said on Monday that private equity firms Clayton, Dubilier& Rice and Carlyle Group, as well as Bank of America Merrill Lynch, have sold off their remaining shares in the car rental agency for $1.24 billion. CD&R, Carlyle and Bank of America Merrill Lynch sold 49.8 million shares for $24.96 each, Hertz said in a press release.
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*Shipping industry has a history of support in Congress. During a lobbying blitz in the past month, roughly 130 tugboat and barge operators fanned across Capitol Hill, meeting with lawmakers and congressional staffers.
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Wick Moorman, CEO of Norfolk Southern, discusses the rail company's first quarter results, and weighs in on the direction of the U.S. economy.
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*Coal revenue was down 17 percent. April 23- Coal shipments by Norfolk Southern Corp fell sharply in the first quarter, but the U.S. railroad still posted a higher profit on increased transport of goods. Coal revenue was down 17 percent in the quarter for Norfolk, due to lower prices and demand.
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Norfolk competes with rival CSX Corp regionally, and both railroads traditionally get a lot of business from transporting coal in the Appalachian region of the eastern United States. Coal revenue was down 17 percent in the quarter for Norfolk, due to lower prices and demand.
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EPS $0.89 vs est $0.88. April 19- Kansas City Southern, the No. 4 U.S. railroad, beat analysts' expectations with a 39 percent rise in quarterly profit, as strong automotive and cross-border intermodal shipments offset drought-related decline in grain volumes.
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April 18- Union Pacific Corp, the No.1 U.S. railroad, reported strong quarterly results helped by higher freight rates and forecast a short-term recovery in coal shipments as large utilities rebuild stocks they have run down over the past year. Union Pacific shares were up 4 percent at $142.92 on Thursday afternoon on the New York Stock Exchange.
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An assumption that oil would move by rail without Keystone was a key part of a U.S. State Department report in March that found development of Canada's oil sands region will proceed at roughly the same rate, with or without the pipeline.
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Michael Ward, President, Chairman, & CEO of CSX Corporation, discusses his company's better-than-expected earnings, and weighs in on the outlook on the economy.
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April 16- CSX Corp, the No. 2 U.S. railroad, said on Tuesday that quarterly profit rose as it cut expenses and saw shipment volumes of some merchandise rise, helping the company fight a still-weak coal business. The company, second to Union Pacific in the industry, said it cut expenses by $27 million, mostly as it managed overtime and training costs better.
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April 16- CSX Corp, the No. 2 U.S. railroad, posted a higher quarterly profit as strong business in merchandise and intermodal helped offset its struggles with the coal business. CSX earned $459 million, or 45 cents a share, in the first quarter, on revenue of nearly $3 billion. Last year, the company earned $449 million, or 43 cents a share.
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*CP raises oil spill estimate to 400 bbls from 4 bbls. April 4- Canadian Pacific Railway Ltd raised its estimate of the amount of oil spilled in a derailment in northern Ontario a hundred-fold on Thursday, and said 400 barrels had leaked from two tanker cars, up from its initial estimate of four barrels.
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LONDON, March 25- U.S. distributors and freight hauliers have held down diesel consumption even as their business recovers from recession by making thousands of small changes to their operations. In 2013, FedEx will have improved the fuel efficiency of its U.S vehicle fleet by 22 percent compared with 2005, Chairman Frederick Smith said at CERA Week.
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Suppliers like T. Boone Pickens' Clean Energy Fuels, Royal Dutch Shell and China's private ENN Group are scrambling to build natural gas fueling stations along U.S. highways, while Cummins-Westport Inc will begin later this year selling a 12- liter natural gas engine able to power the biggest trucks on the road.
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*More and more interest in propane as transport fuel. NEW YORK, March 6- Home satellite TV provider DISH Network Corp has signed a deal to run 200 of its trucks on propane, in the latest indication that the niche fuel could soon rival natural gas as the United States' cheap transport alternative.
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*India struggling to cope with a record stockpile of grains. NEW DELHI, March 6- India will prioritise exports from overflowing government wheat stocks over private grain sales, a senior farm ministry official told Reuters, if it goes ahead with extra shipments that could face bottlenecks on railroads and at ports.