CSX Corporation

CSX train conductor prevents deadly accident

A photograph of police and ambulance workers lifting a man on a stretcher. They are next to train tracks.

A CSX (NASDAQ: CSX)  train conductor has garnered praise from police in Georgia from stopping his train before it hit a homeless man on the tracks.

The near-accident occurred on Friday morning, according to police in Marietta. The conductor was driving a mile-long freight train at normal speeds when he noticed someone on the tracks. The conductor was able to stop the train before hitting the person — a homeless man suffering from...

https://www.freightwaves.com/news/csx-train-conductor-prevents-deadly-accident

Coronavirus challenges CSX’s fourth quarter

A CSX train travels down train track.

CSX (NASDAQ: CSX) is not only eyeing a volume recovery in 2021 but also a recovery from the coronavirus among its workforce. As COVID-19 cases spiked after Thanksgiving across the U.S., so too did the number of CSX employees contracting the virus. 

The railroad didn’t say during its fourth-quarter 2020 earnings call how many employees have been infected or are in quarantine, but that number is in the “hundreds,” according to CSX President and CEO Jim Foote. 

One reason why the outbreak has been...

https://www.freightwaves.com/news/coronavirus-challenges-csxs-fourth-quarter

CSX’s Q4 net profit roughly flat with last year

A CSX train sits next to a train consisting of tank cars.

CSX’s (NASDAQ: CSX) fourth-quarter net income slipped 1% amid a 2% decline in revenue, the Eastern U.S. railroad reported Thursday.

Fourth-quarter 2020 net profit was $760 million, or 99 cents per share, compared with $771 million, or 99 cents per share, in the fourth quarter of 2019. 

(CSX)

CSX said results for the fourth quarter of 2020 included a charge of $48 million, or 5 cents per share after tax, related to the early retirement of debt.

Revenue slipped 2% to $2.83 billion as volume and...

https://www.freightwaves.com/news/csxs-q4-net-profit-roughly-flat-with-last-year

Towing vessel damages CSX bridge in Louisiana

A photograph of a U.S. Coast Guard boat on the water.

A towing vessel struck the CSX Rigolets Pass swing bridge near Slidell, Louisiana, causing CSX (NASDAQ: CSX) to run trains at a reduced speed, according to reports from CSX and the U.S. Coast Guard.

The incident occurred at 1 a.m. local time. According to watchstandards at the Coast Guard Sector New Orleans, the inspected towing vessel Robert Cernan reportedly hit the bridge, causing the bridge to be stuck in an open position as of noon local time, the Coast Guard said. The waterway remains open...

https://www.freightwaves.com/news/towing-vessel-damages-csx-bridge-in-louisiana

NTSB investigates fatal October CSX accident

An overhead photograph of the CSX rail yard.

The National Transportation Safety Board (NTSB) released its preliminary findings regarding a fatal incident in October at CSX’s (NASDAQ: CSX) Acca rail yard in Richmond, Virginia. 

The cause of the incident is still pending.

According to the findings, which NTSB said are subject to change as it continues its investigation, the CSX employee was riding alone on the outside platform of CSX train Y39311 and operating the train by remote control. The train consisted of one locomotive and 18 railcars.

A...

https://www.freightwaves.com/news/ntsb-investigates-fatal-october-csx-accident

COVID-19 uncertainties, PSR part II: What’s on the minds of rail execs

A photograph of a Kansas City Southern train in a rail yard.

Train lengths, e-commerce and mergers and acquisitions were among the topics discussed by four Class I railroads at the Credit Suisse 8th Annual Industrials Conference last week. Here are some highlights:

Kansas City Southern talks service design adjustments, longer sidings

Kansas City Southern (NYSE: KSU) hopes to implement the third phase of its PSR program in 2021.

Although this phase could be the most challenging, it also could be the most rewarding, according to Sameh Fahmy, executive vice...

https://www.freightwaves.com/news/covid-19-uncertainties-psr-part-ii-whats-on-the-minds-of-rail-execs

CSX confirms plans to acquire Pan Am Railways

A photograph of a CSX train pulling intermodal containers across a field.

CSX (NASDAQ: CSX) will buy short line Pan Am Railways after all.

The Eastern U.S. railroad said Monday that it has signed a definitive agreement to acquire the railroad. Financial terms weren’t disclosed.

CSX has been considering purchasing the New England short line for weeks, according to reports.

CSX says Pan Am’s subsidiaries make Pan Am the largest regional railroad in North America. The short line operates nearly 1,200 miles of track across New England, with access to multiple ports and...

https://www.freightwaves.com/news/csx-confirms-plans-to-acquire-pan-am-railways

CSX, A&R Logistics celebrate new plastics facility near Charleston

A CSX train hauls intermodal containers.

A&R Logistics has opened a 615,000-square-foot facility near the Port of Charleston in South Carolina. CSX (NASDAQ: CSX) partnered with A&R Logistics in bringing the facility to fruition.

The facility is targeting high-volume, export-seeking plastics producers that are looking for a shipping alternative to the U.S. Gulf Coast. A&R Logistics provides dry bulk and liquid chemical transportation services to chemical companies. The company also offers warehousing and packaging, distribution, export...

https://www.freightwaves.com/news/csx-ar-logistics-celebrate-new-plastics-facility-near-charleston

Baltimore’s ‘inland’ port takes shape on e-commerce demand

Tradepoint Atlantic

Evidence of what was once the largest steel plant on the U.S. East Coast has rapidly disappeared as distribution centers begin to cover the 3,300-acre site near Baltimore.

Six years ago, industrial real estate developers Hilco Real Estate and Redwood Capital Investments acquired the former Bethlehem Steel plant property at Sparrows Point, Maryland, and began to transform the site through their joint venture, Tradepoint Atlantic.

After several years of remediation, the first distribution centers...

https://s29755.pcdn.co/news/baltimores-inland-port-takes-shape-on-e-commerce-demand

Pan Am, conversions to rail and train lengths — oh my!

A photograph of a CSX train traveling next to a forest.

A CSX (NASDAQ: CSX) executive confirmed that CSX has talked with short line Pan Am Railways about a possible future involving both companies, but he declined to comment further on the issue.

“You might have seen what we’ve sort of said publicly on Pan Am. We did confirm that we have had discussions with Pan Am about that property. Beyond that, I’m not going to comment any further,” said CSX’s Mark Wallace at the Baird investors conference Thursday. Wallace is the executive vice president for...

https://www.freightwaves.com/news/pan-am-conversions-to-rail-and-train-lengths-oh-my

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