New York-listed shipowner draws down loan to pay off loans backed by 12 vessels
Finance
Operational improvements propel Norfolk Southern’s second-quarter results
This story originally appeared on Trains.com.
ATLANTA – Operational improvements helped Norfolk Southern win back service-sensitive intermodal and automotive traffic while driving down costs and boosting the railroad’s profitability in the second quarter.
“While our work continues, our second quarter results represent an encouraging inflection point in our operating performance,” CEO Alan Shaw said on the railroad’s earnings call on Thursday afternoon.
The railroad’s quarterly results show a...
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Declining coal volumes can’t sink Union Pacific’s second quarter results
This story originally appeared on Trains.com.
OMAHA, Neb. – Union Pacific’s profits rose in the second quarter despite a sharp drop in coal traffic.
“When you remove coal, our total volume was up 3% in the second quarter. This demonstrates that even in a tough freight environment, we are winning with our customers to bring new business to the railroad,” CEO Jim Vena said on the company’s earnings call on Thursday morning.
Quarterly operating income increased 9%, to $2.4 billion, as revenue grew...
Royal Caribbean shares plunge as yield concern overshadows rosy earnings picture
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Cold storage REIT Lineage IPO hauls in $4.4B
This story has been updated.
Temperature-controlled logistics real estate investment trust Lineage Inc. said nearly 57 million shares of its common stock were priced at $78 per share ahead of its initial public offering on Thursday. The deal will haul in roughly $4.4 billion in proceeds, better than the $3.4 billion to $3.9 billion range previously expected.
A 30-day option for a 15% allotment (a little more than 8.5 million shares) has been granted to underwriters. The company said it will use...
https://www.freightwaves.com/news/cold-storage-reit-lineage-ipo-hauls-in-4-4b
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