CSX

Baltimore port closure puts truck drivers who haul autos in a bind

With the closure of the Port of Baltimore for the foreseeable future, the question of which truck drivers are most affected inevitably focuses first on drayage.

But Baltimore is not a major intermodal port, with estimates that its share of U.S. intermodal traffic is in the low single digits.

What the Port of Baltimore is, however, is a huge gateway for automobile imports and, to a lesser extent, car exports. And that fact is likely to shake up the niche truck segment of auto haulers.

Guy Young is...

https://www.freightwaves.com/news/baltimore-port-closure-puts-truck-drivers-who-haul-autos-in-a-bind

Vote on insurgent effort at Norfolk Southern set for May 9

Norfolk Southern has set May 9 as the date for its annual meeting, when an insurgent campaign to put outside directors on the company’s board and a new CEO in place will come to a head.

The Class 1 railroad formally set the date in its proxy letter to shareholders, sent last week. The meeting will be virtual and can be streamed on the company’s website, though participation is limited to shareholders. It begins at 8:30 a.m. Eastern.

Amy Miles, Norfolk Southern’s (NYSE: NSC) board chair, is the...

https://www.freightwaves.com/news/vote-on-insurgent-effort-at-norfolk-southern-set-for-may-9

Port of Charleston capacity set to expand

South Carolina Ports plans to purchase the former WestRock paper mill site in North Charleston, S.C., to expand port capacity at the Port of Charleston. The roughly 280-acre industrial waterfront property sits adjacent to the port’s North Charleston Terminal, offering a natural extension of the container terminal that will enable SC Ports to handle more cargo for port-dependent businesses.

The additional land will expand the terminal’s capacity to handle 5 million containers in the future, and...

https://www.marinelog.com/inland-coastal/ports-terminals/port-of-charleston-capacity-set-to-expand/

Two days, two railroads in the spotlight: Missives flying over Norfolk Southern, Union Pacific

Charges, countercharges and the missives were flying back and forth over the future of two Class 1 railroads as February came to an end, with leading government officials that regulate the rails leveling heavy criticism at two distinct players.

In the proxy battle roiling Norfolk Southern (NYSE: NSC), the activist investor group Ancora is recommending the replacement of eight new directors to the Norfolk Southern board. It also wants to replace CEO Alan Shaw with former UPS executive Jim Barber...

https://www.freightwaves.com/news/two-days-two-railroads-in-the-spotlight-missives-flying-over-norfolk-southern-union-pacific

Norfolk Southern’s weak Q4, deteriorating OR draw Wall Street criticism

Fourth-quarter 2023 earnings and a projection for its prospects in 2024 have led to at least a pair of Wall Street downgrades of the prospects for Norfolk Southern’s stock price.

The bottom-line numbers for Norfolk Southern (NYSE: NSC) were that it posted net income in the fourth quarter of $527 million versus $790 million in the corresponding quarter of 2022. Its operating ratio for the fourth quarter of 2023 was 73.7%, a significant deterioration from the 63.5% it posted a quarter earlier.

NS’...

https://www.freightwaves.com/news/norfolk-southerns-weak-q4-deteriorating-or-draw-wall-street-criticism

Rail gets high-tech upgrade moving into 2024

Rail is often characterized as one of the more “old school” transportation options, but recent developments in the space have challenged that narrative. Railroad giant CSX, for example, is dedicated to investing both financial and human capital into a myriad of emerging technologies. 

“Over the past year, we continued a multi-year modernization plan for our ShipCSX customer service platform, adding new tools and functions,” according to Kevin Boone, CSX Executive Vice President and Chief...

https://www.freightwaves.com/news/rail-gets-high-tech-upgrade-moving-into-2024

DOT’s freight data exchange processing 65% of US container imports

WASHINGTON — The Biden administration’s pick to head the first high-level cabinet office dedicated exclusively to freight is setting a high bar for the value her office will bring to the nation’s freight markets.

Deputy Assistant Secretary Allison Camden (Photo: U.S. DOT)

Allison Dane Camden will lead the U.S. Department of Transportation’s new Office of Multimodal Freight Infrastructure and Policy as the first deputy assistant secretary for the office. 

Camden brings to the office experience...

https://www.freightwaves.com/news/dots-freight-data-exchange-processing-65-of-us-container-imports

CSX facing class action lawsuit over Kentucky derailment

A class action lawsuit has been filed against Eastern U.S. Class I rail carrier CSX over the train derailment that occurred in eastern Kentucky the day before Thanksgiving.

The lawsuit, filed Wednesday with the U.S. District Court for the Eastern District of Kentucky, alleges that local community members experienced symptoms such as difficulty breathing and sore throats because two rail cars carrying molten sulfur derailed and caught fire, resulting in the spread of toxic fumes in the area. 

The...

https://www.freightwaves.com/news/csx-facing-class-action-lawsuit-over-kentucky-derailment

Projected 2024 industry trends position rail as optimal shipping option

With the holiday season in full swing, shippers are looking ahead to 2024. Many companies are busy finalizing their transportation partnerships for the new year, and rail may be a more attractive option than in years past.

Next year’s transportation environment is expected to be colored by gains in three significant areas: service, sustainability and technology. Rail has been making serious gains across all three, making it a viable and affordable option for shippers.

“The environmental...

https://www.freightwaves.com/news/projected-2024-industry-trends-position-rail-as-optimal-shipping-option

CSX eyes wheel bearing as cause of Kentucky derailment

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

A company investigation has led CSX to believe that a failed wheel bearing may be the cause of last...

https://www.freightwaves.com/news/csx-eyes-wheel-bearing-as-cause-of-kentucky-derailment

+ More
Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.