Class 1 railroad

BNSF’s trade-related intermodal projects move ahead despite tariffs

BNSF Railway is not hitting the pause button on a pair of trade-dependent intermodal projects in California and Arizona despite the broad tariffs that the Trump administration unveiled last Wednesday.

BNSF is planning to build a $1.5 billion terminal and transload center in Barstow, California, to handle international containers. The 4,500-acre Barstow International Gateway project aims to speed imported freight to inland markets by reducing the amount of time containers dwell on the docks at...

https://www.freightwaves.com/news/bnsfs-trade-related-intermodal-projects-move-ahead-despite-tariffs

New US tariffs hit railroad stocks in early trading

Railroad stocks tumbled Thursday in response to the Trump administration’s Wednesday announcement of widespread tariffs on U.S. trading partners.

It was an indication that investors believe the tariffs will raise prices and have a negative impact on consumer spending, which in turn will reduce demand for the raw materials and finished products that railroads carry.

As U.S. stock markets opened on Thursday, the S&P 500 was down nearly 4%. CSX (NASDAQ: CSX) and Union Pacific (NASDAQ: UNP) stock...

https://www.freightwaves.com/news/new-us-tariffs-hit-railroad-stocks-in-early-trading

APM Terminals buys Panama Canal Railway from CPKC, Lanco Group/Mi-Jack

CALGARY, Alberta — Canadian Pacific Kansas City (NYSE: CP) and the Lanco Group/Mi-Jack have sold the Panama Canal Railway to APM Terminals, a global terminal operator and an independent division of A.P. Moller-Maersk (XCSE: MAERSKa).

The 47.6-mile railway provides ocean-to-ocean freight and passenger services along the Panama Canal and has been a 50/50 joint venture between CPKC subsidiary Kansas City Southern and Lanco Group/Mi-Jack since its formation in 1998.

“We are pleased to have completed...

https://www.freightwaves.com/news/apm-terminals-buys-panama-canal-railway-from-cpkc-lanco-group-mi-jack

Justice probes antitrust claims against NS, Norfolk & Portsmouth Belt Line

WASHINGTON — The Justice Department’s Antitrust Division is investigating Norfolk Southern and Virginia terminal railroad Norfolk & Portsmouth Belt Line for alleged anticompetitive conduct against CSX at a major Norfolk container terminal.

CSX, which says NPBL operates like an alter ego of NS, disclosed the investigation in a filing with the Surface Transportation Board last week.

CSX and NS have been locked in a legal dispute over the NPBL for six years. NS has controlled the 36-mile NPBL since...

https://www.freightwaves.com/news/justice-probes-antitrust-claims-against-ns-norfolk-portsmouth-belt-line

Canadian National finalizes acquisition of Iowa Northern

MONTREAL — Canadian National Railway and Iowa Northern Railway have officially joined operations, CN said Monday.

“This additional investment in the United States underscores our dedication to delivering outstanding rail service while driving economic growth,” CN CEO Tracy Robinson said in a press release. “CN customers and partners along this network will benefit from single-line service offering new options and access to new markets.”

Said Derek Taylor, CN’s chief field operating officer, “Both...

https://www.freightwaves.com/news/canadian-national-finalizes-acquisition-of-iowa-northern

STB chair remains frustrated over Class I railroads’ lack of growth

SCHAUMBURG, Ill. — Approaching the likely end of his tenure as chairman of the Surface Transportation Board, Robert Primus made it clear: The hearing the board held last fall on growth in the rail industry did not ease his concerns about Class I efforts to increase volume.

In a rare address Thursday at the Midwest Association of Rail Shippers Winter Meeting — the same day he issued a statement concerning retaliation by railroads against those who bring matters to the board or participate in its...

https://www.freightwaves.com/news/stb-chair-remains-frustrated-over-class-i-railroads-lack-of-growth

Buttigieg, Su urge 3 Class I freight railroads to guarantee paid sick leave

U.S. Transportation Secretary Pete Buttigieg and acting Department of Labor Secretary Julie Su sent a letter Wednesday urging the CEOs of three Class I freight railroads to guarantee paid sick leave for all employees. One of the railroads, CSX, responded that two unions have rejected its efforts to do exactly that. Another, CPKC, said sick leave negotiations with its unions are ongoing.

According to a news release from the DOT, Buttigieg and Su wrote to CEOs for CPKC and fellow Canadian railroad...

https://www.freightwaves.com/news/buttigieg-su-urge-3-class-i-freight-railroads-to-guarantee-paid-sick-leave