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Road and Rail

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  • Oct 21- As fracking accelerates in North American shale fields, oilfield services providers Halliburton Co and Baker Hughes Inc are stockpiling sand to protect themselves against rising costs and are buying more railcars to transport the haul. Halliburton, the world's largest provider of fracking services, is more than doubling its railcar fleet and...

  • Legal petition seeks NY ban on outdated rail cars Tuesday, 21 Oct 2014 | 2:12 PM ET

    ALBANY, N.Y.— A coalition of environmental groups and city residents filed a legal petition on Tuesday seeking a ban on older model rail tanker cars carrying volatile crude oil from North Dakota to the Port of Albany, citing their history of rupturing and exploding in a series of catastrophic derailments. Port facilities owned by Houston- based Buckeye Partners...

  • Oct 20- Canadian Pacific Railway Ltd said on Monday that it had ended talks to buy CSX Corp and that the two companies planned no further discussions, sending shares of the No. 3 U.S. railroad operator down more than 3 percent. Neither side had confirmed the talks, initially reported by the Wall Street Journal a week ago. However, analysts had said service problems...

  • Canadian Pacific ends CSX deal talks Monday, 20 Oct 2014 | 7:48 AM ET

    Canadian Pacific Railway has ended talks with U.S. counterpart CSX about a possible combination and plans no more discussions. Several reports had surfaced recently that CSX Corp. had rejected a merger offer from Canadian Pacific Railway Ltd. Both railroads declined to comment on the deal talk, but CSX CEO Michael Ward did say last week that the Surface...

  • Oct 17- Railroad operator Kansas City Southern's reported a higher-than-expected quarterly revenue as it shipped more grains and automobiles. Kansas City Southern operates on a unique, north-south route in central United States and derives half of its annual revenue from cross-border business with Mexico. Exports from the United States to Mexico rose...

  • Oct 17- Railroad operator Kansas City Southern's quarterly revenue and profit increased on a jump in grain and automotive shipments. Net income available to common stockholders jumped to $138 million, or $1.25 per share, in the third quarter ended Sept. 30, from $118.3 million, or $1.07 per share, a year earlier. Excluding items, the company earned $1.29 per share.

  • CSX CEO says rail deals would face tough scrutiny Wednesday, 15 Oct 2014 | 10:43 AM ET

    OMAHA, Neb.— CSX railroad's top executive said Wednesday regulators are likely to be reluctant about consolidation among the major industry players because they remain concerned about service. CSX CEO Michael Ward said Wednesday the Surface Transportation Board would likely take a cautious approach to any railroad consolidation deals because there are...

  • CSX beats, citing U.S. economy for freight boost Tuesday, 14 Oct 2014 | 5:17 PM ET
    CSX freight lines run through center city Philadelphia

    CHICAGO, Oct 14- No. 3 U.S. railroad CSX Corp on Tuesday reported a rise in third-quarter profit, beating forecasts and predicting double-digit growth for 2015 as it moved more freight on its network due to a growing U.S. economy. CSX reported earnings per share of 51 cents, up from 45 cents a year ago and beating the 48 cents expected by Wall Street analysts.

  • CHICAGO, Oct 14- No. 3 U.S. railroad CSX Corp on Tuesday reported a rise in third-quarter profit, beating forecasts and predicting double-digit growth for 2015 as it moved more freight on its network due to a growing U.S. economy. CSX reported earnings per share of 51 cents, up from 45 cents a year ago and beating the 48 cents expected by Wall Street analysts.

  • CSX 3rd-quarter profit, revenue up, topping forecasts Tuesday, 14 Oct 2014 | 4:20 PM ET

    CHICAGO, Oct 14- No. 3 U.S. railroad CSX Corp on Tuesday reported third-quarter profit that rose from a year earlier, beating forecasts, driven by a 7 percent increase in freight volumes across most of its markets as the U.S. economy continued to grow. CSX reported earnings per share of 51 cents, up from 45 cents a year ago and beating the 48 cents expected by Wall Street...

  • Marten Transport misses Street 3Q forecasts Tuesday, 14 Oct 2014 | 4:15 PM ET

    MONDOVI, Wis. _ Marten Transport Ltd. on Tuesday reported third-quarter earnings of $7.7 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share. Analysts expected $175.8 million, according to Zacks.

  • CSX 3Q profit rises 12 percent, tops estimates Tuesday, 14 Oct 2014 | 4:09 PM ET

    OMAHA, Neb.— CSX Corp. on Tuesday said its third-quarter profit grew 12 percent to $509 million as it hauled more freight amid an improving economy. The Jacksonville, Florida- based company reported profit per share of 51 cents, beating the 47- cent average estimate of analysts surveyed by Zacks Investment Research. Zacks says analysts expected $3.16 billion.

  • CHICAGO, Oct 13- Shares of No. 3 U.S. railroad CSX Corp rose nearly 10 percent on Monday following a report of a rebuffed takeover bid by Canadian Pacific Railway Ltd, but analysts said any such deal would face significant regulatory and other hurdles. According to the report in the Wall Street Journal late on Sunday, the No. 2 Canadian railroad made a bid last week for...

  • Refinery switching to newer rail cars for crude Saturday, 11 Oct 2014 | 7:15 PM ET

    BELLINGHAM, Wash.— A refinery in northwest Washington state says it will no longer accept any volatile North Dakota crude oil unless it arrives on newer-model tank cars. By the first week of October, the BP Cherry Point facility had stopped using pre-2011 standard tank cars, known as DOT-111 cars, for the shipments, The Bellingham Herald reported.

  • MOMBASA, Kenya, Oct 3- Protesters in Kenya ended a blockade on Friday that had disrupted the transport of cargo by truckers on the main trade artery from Mombasa port to Nairobi and the wider east African region. At least 90 percent of all cargo arriving at the Indian Ocean port of Mombasa is ferried to final destinations in Kenya and landlocked neighbours by road,...

  • MOMBASA, Kenya, Oct 3- Protesters in Kenya blocked truckers on the only highway from Mombasa port to the capital Nairobi on Friday, threatening to choke the main trade artery with much of east Africa. Kenya's government has said about 30,000 Kenyan workers would be employed to build a multi-billion dollar standard gauge railway from Mombasa to Nairobi, with only...

  • Check on road & rail stocks     Thursday, 25 Sep 2014 | 1:48 PM ET

    Up until today, transportation stocks had been showing signs of strength. CNBC's Dominic Chu reports the road and rail group is still one of the best performing in the S&P this month, and provides insight to trucking and transport company Ryder System.

  • Travelport raised about $480 million after its offering of 30 million shares was priced at $16 per share, the top end of the expected range of $14- $16. Travelport, which provides a travel commerce platform and technology services to travel agents, airlines, hotels and car rental companies, sold all of the shares on offer.

  • BISMARCK, North Dakota, Sept 23- Hess Corp and other major North Dakota oil producers told the state's top energy regulators on Tuesday that existing field practices used to prepare Bakken crude for rail transport are safe, and tighter standards could do more harm than good.

  • Are grain farmers losing to oil for rail service? Tuesday, 23 Sep 2014 | 12:01 PM ET

    A record harvest will likely cause financial hardships on grain farmers due to a lack of rail service. Some point the finger at the oil industry for the problem.