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Road and Rail

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  • Jan 27- After a blizzard that blanketed the northeastern United States but proved less powerful in New York City than predicted, airlines, commuter rail, bus lines and subways resumed limited operations on Tuesday. LIRR service remains suspended on the Montauk Branch east of Babylon, Greenport to Ronkonkoma, Port Jefferson Branch east of Huntington and the...

  • Lower coal revs hit Norfolk Southern profit Monday, 26 Jan 2015 | 1:24 PM ET
    A file photo of a Norfolk Southern freight train.

    Norfolk Southern expects a solid U.S. economy to boost its business in 2015 but said it was too early to gauge the impact of lower energy prices.

  • CHICAGO, Jan 26- Norfolk Southern Corp, the No. 4 U.S. railroad, expects a solid U.S. economy to boost its business in 2015 but said on Monday it was too early to gauge the overall impact of lower energy prices. Norfolk Southern's fourth-quarter profit was hurt by a 15 percent drop in coal revenue. The Norfolk, Virginia- based company said gains in its intermodal, or...

  • CHICAGO, Jan 26- Norfolk Southern Corp, the No. 4 U.S. railroad, on Monday reported slightly lower fourth-quarter profit due partly to a 15 percent drop in coal revenue. Norfolk Southern said the drop in coal was caused by a weak global export market and fewer shipments of coal to utilities, which resulted in a decrease in freight volumes of 6 percent.

  • CHICAGO, Jan 23- Regional railroad Kansas City Southern reported a higher quarterly net profit that came in well above Wall Street expectations, driven mainly by higher freight volumes, and said it expected to benefit from a growing U.S. economy in 2015.. The company said "while there is significant volatility in the energy markets" it expects to see volume growth...

  • Jan 22- Canadian Pacific Railway Ltd, Canada's second-largest railroad operator, reported a higher-than-expected quarterly profit as freight volumes jumped and operating efficiency improved. Net income rose to C $451 million, or C $2.63 per share, from C $82 million, or 47 Canadian cents per share, a year earlier, when the company had taken an impairment charge...

  • CSX profit up, expects double-digit growth in 2015 Wednesday, 14 Jan 2015 | 10:51 AM ET
    CSX freight lines run through center city Philadelphia

    CSX reported a higher profit and said it expected a strong increase in its freight business and double-digit earnings growth during 2015.

  • CHICAGO, Jan 13- CSX Corp, the third-largest U.S. railroad, on Tuesday reported a higher quarterly profit that was in line with analyst expectations and said it expected a strong increase in its freight business and double-digit earnings growth during 2015.. Jacksonville, Florida- based CSX reported a net profit of $491 million, up 15 percent from $426 million a...

  • CHICAGO, Jan 13- CSX Corp, the third-largest U.S. railroad, on Tuesday reported a higher quarterly profit that was in line with analyst expectations and said it expected a strong increase in its freight business and double-digit earnings growth during 2015.. Jacksonville, Florida- based CSX reported a net profit of $491 million, up 15 percent from $426 million a...

  • CHICAGO, Jan 13- CSX Corp, the third-largest U.S. railroad, on Tuesday reported a higher quarterly profit that was in line with Wall Street expectations, driven by growth in several freight classes including intermodal and coal. The Jacksonville, Florida- based company reported a net profit of $491 million, up 15 percent from $426 million a year earlier.

  • SAN FRANCISCO, Jan 12- Cargo traffic at several of the biggest U.S. West Coast ports has slowed to near gridlock, negotiators for shipping lines and terminal operators for 29 ports said on Monday as contract talks with the dockworkers' union remain strained. The Pacific Maritime Association said that five of the region's largest ports, including the massive Los...

  • MEXICO CITY, Jan 11- The U.S. Department of Transportation will soon be ready to consider lifting restrictions on Mexican trucking firms seeking to operate throughout the United States, Mexico's Communications and Transport Ministry said on Sunday. Mexico and the United States have been locked in a long-running dispute over granting Mexican truckers...

  • Wall Street is also punishing the sector. "The producers have to be getting murdered," said Steven Boyd, senior managing director at Sun Coast Resources Inc., a Houston- based distributor of petroleum and alternative fuels. Blue Ridge Biofuels, a small biodiesel producer in Asheville, North Carolina, that makes its product from used restaurant cooking oil, says...

  • CHICAGO, Jan 7- Armed with lessons learned from last year's polar vortex, the U.S. transportation and shipping network faces its first big test of the winter this week as harsh cold and dangerous wind chills buffet the Plains to the East Coast. Snow blanketed much of the eastern United States, with lake-enhanced accumulations of more than a foot in northwest...

  • UPDATE 1-Russia may fail to supply wheat to Egypt in Jan Wednesday, 24 Dec 2014 | 4:49 AM ET

    MOSCOW, Dec 24- Russia may fail to supply wheat to Egypt's state buyer GASC in January as its exports have been effectively suspended by informal government curbs, Arkady Zlochevsky, the head of Russia's Grain Union, said on Wednesday. Russia's government imposed informal curbs with tougher quality monitoring and limits on railroad loadings earlier this...

  • Officials from the Pacific Maritime Association and the International Longshore and Warehouse Union resumed negotiations on Thursday morning at the San Francisco headquarters of the association, said Craig Merrilees, a spokesman for the union. The waterfront cargo slowdowns have coincided with prolonged labor talks between 20,000 dockworkers and the...

  • LOS ANGELES, Dec 17- Negotiators for shipping lines and terminal operators at 29 U.S. West Coast ports remain far from a deal with union dockworkers after seven months of contract talks, the companies said on Wednesday, again blaming the union for waterfront cargo slowdowns. The Pacific Maritime Association statement came a day before the companies were slated...

  • UPDATE 3-FedEx profit misses expectations; stock down Wednesday, 17 Dec 2014 | 10:18 AM ET

    CHICAGO, Dec 17- FedEx Corp on Wednesday posted lower-than-expected quarterly earnings as results at its FedEx Ground and FedEx Freight units missed estimates, and it reiterated an outlook analysts consider conservative, sending its stock down nearly 5 percent. Both FedEx and main rival United Parcel Service Inc are in the final days of their peak holiday...

  • LOS ANGELES, Dec 15- The union for 20,000 dockworkers and a group of their employers at 29 U.S. West Coast ports say they are making slow but steady progress in months-long contract talks seen by the shipping industry as a contributing factor in chronic cargo backups. The International Longshore and Warehouse Union and the Pacific Maritime Association,...

  • NEW YORK, Dec 14- For the past 18 months, Americans from Albany to Oregon have voiced growing alarm over the rising number of oil-laden freight trains coursing through their cities, a trend they fear is endangering public safety. The public assistance in states like New York, Pennsylvania, Ohio, Oklahoma and Oregon comes as railroads are posting record profits, and...