Transportation Road and Rail

  • BEIJING, Jan 20- China's rail freight volume in December rose 9.8 percent from the same period last year to 315.79 million tonnes, the National Bureau of Statistics said on Friday. China's November rail freight volume rose 13.9 percent from a year earlier. Rail freight volume grew in August for the first time after falling for 31 consecutive months since...

  • DETROIT, Jan 19- The top executive at Union Pacific Corp said on Thursday that the No. 1 U.S. railroad remains opposed to mergers between major railroads in the United States. Union Pacific CEO Lance Fritz told Reuters that "we still think Class 1 mergers in the United States are not a good idea." CSX shares rose nearly 19 percent on Thursday on the news of talks between...

  • LOWELL, Ark. _ JB Hunt Transport Services Inc. on Thursday reported fourth-quarter profit of $117.9 million. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1 per share. Seven analysts surveyed by Zacks expected $1.71 billion.

  • OMAHA, Neb.— Union Pacific's fourth-quarter profit grew 2 percent as the railroad cut costs to offset a 3 percent decline in shipments. Union Pacific Chairman and CEO Lance Fritz said higher energy prices, favorable agricultural markets and improving consumer confidence all suggest railroad shipping volumes will grow this year. Edward Jones analyst Dan...

  • Jan 18- Canadian Pacific Railway Ltd, Canada's No. 2 railroad operator, said on Wednesday its chief executive would leave five months earlier than originally expected and it reported a lower-than-expected adjusted quarterly profit. Hunter Harrison will officially step down on Jan. 31 and be replaced by Chief Operating Officer Keith Creel.

  • Jan 18- Canadian Pacific Railway Ltd, Canada's No. 2 railroad operator, reported a lower-than-expected adjusted quarterly profit on Wednesday and said its chief executive would leave five months earlier than originally expected. Hunter Harrison will officially step down Jan. 31 and will take vacation leave with immediate effect. He will be replaced by Chief...

  • OMAHA, Neb.— Canadian Pacific Railway Ltd. is accelerating the retirement of CEO Hunter Harrison by about six months after he inquired about the possibility of working with other major freight railroads. The Calgary, Alberta, railroad said Wednesday that Harrison will forfeit roughly 118 million Canadian dollars in stock options and pension benefits as part...

  • OMAHA, Neb.— CSX railroad officials expect profits to grow this year as the economy improves modestly, coal demand stabilizes and President-elect Donald Trump pursues reforms. The Jacksonville, Florida- based railroad offered a somewhat optimistic outlook Wednesday, a day after reporting a $458 million fourth-quarter profit. CSX CEO Michael Ward said...

  • OMAHA, Neb.— CSX Corp.' s fourth-quarter profit declined 2 percent as the railroad worked to limit its costs while shipping demand remained weak. The Jacksonville, Florida- based railroad said Tuesday it generated $458 million in net income, or 49 cents per share, in the fourth quarter. That's down from $466 million net income, or 48 cents per share, a year earlier.

  • CSX EPS misses, revenues beat

    Earnings are out for CSX. CNBC's Morgan Brennan reports the details.

  • MEXICO CITY, Jan 17- Mexico's state oil company Pemex began receiving imported fuel by train at a new privately run terminal for the first time in January as companies expand storage and transportation operations under the country's energy opening, a senior executive said in an interview. The cargo of just under 60,000 barrels arrived from Port Arthur, Texas, on...

  • Railroads have lost pricing power: Pro

    Discussing upcoming earnings in the transport sector like CSX with Donald Broughton, Avondale Partners managing director and senior research analyst.

  • MEXICO CITY, Jan 17- Mexico's state oil company Pemex began receiving imported fuel by train at a new privately run terminal for the first time in January as companies expand storage and transportation operations under the country's energy opening, a senior executive said in an interview. The cargo of just under 60,000 barrels arrived from Port Arthur, Texas, on...

  • SAO PAULO, Jan 16- Movida Participações SA has set the price range for an initial public offering at between 8.90 and 11.30 reais per share in a deal that could help the Brazilian car rental firm and a shareholder fetch as much as 1.184 billion reais from investors. Growing appetite for risk among local investors and hopes that President Michel Temer will...

  • A train leaves Harbin Railway Station in North China's Heilongjiang, July 22,2016.

    China has unveiled plans to partially privatize the country's industrial champions, including the state railway system, the SCMP reports.

  • This is the latest step in the China’s Belt and Road initiative.

  • Rails on a roll

    David Vernon, Bernstein, shares his outlook on railroads and weighs in on what's driving transports into the new year.

  • 2017 Playbook: Rails full steam ahead

    CNBC's Morgan Brennan takes a look at where railroad stocks are likely headed next year.

  • The truckmaker's shares fell as much as 11.59 percent to $26.25 in morning trading on Tuesday. Heavy-duty truck orders have been declining as trucking companies adjust their fleets amid lackluster retail sales and industrial output in the United States. Navistar expects 2017 class 8 industry volumes to range between 190,000 and 220,000 trucks while class...

  • SALGUEIRO, Brazil, Dec 15- The rusting tracks of Brazil's Transnordestina railway peter out and give way to a dirt trail in a remote corner of the country's arid northeast, far from the ports or farms it was meant to serve. No trains run on these tracks and the cleared path for one of Brazil's most ambitious infrastructure projects is used only by local cars, and the...