railcars

Texas court sides with Union Pacific over 1872 jobs pact with town

A Texas appeals court recently declared an 1872 jobs agreement between Palestine, Texas, and Union Pacific to be unenforceable.

The ruling moves Union Pacific (NYSE: UNP) a step closer to its goal of closing a rail car shop in the east Texas town of 18,000.

The 12th Court of Appeals in Tyler, Texas, issued the ruling on Feb. 22, finding that the agreement requiring Union Pacific to maintain a set number of jobs in Palestine — a pact that was signed in 1872 and updated in 1954 — places restraints...

https://www.freightwaves.com/news/texas-court-sides-with-union-pacific-over-1872-jobs-pact-with-town

IntelliTrans, Nexxiot aim to give rail shippers supply chain visibility

Supply chain visibility platform IntelliTrans and rail equipment sensor provider Nexxiot are partnering to create a product aimed at providing asset-level monitoring in real time.

The product will integrate Nexxiot’s data with IntelliTrans’ platform and enable IntelliTrans’ customers to receive real-time network insights, location monitoring and other IoT-sensing data, the companies said Tuesday. Nexxiot’s data comes from rail cars that have Nexxiot’s sensors installed on them, while...

https://www.freightwaves.com/news/intellitrans-nexxiot-aim-to-give-rail-shippers-supply-chain-visibility

Trade groups applaud House bill that encourages rail car scrapping

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The trade associations for rail equipment and component manufacturers are rallying behind a U.S....

https://www.freightwaves.com/news/trade-groups-applaud-house-bill-that-encourages-rail-car-scrapping

Congressional leaders push for tax credit for scrapping older railcars

Boxcars whizzing by a blocked rail crossing.

A bipartisan group of congressional leaders is trying once again to push through legislation to provide a tax credit for companies seeking to replace or modernize “inefficient, outdated” freight railcars.

Reps. Bradley Scott Schneider, D-Ill.,and Darin LaHood, R-Ill., introduced the bill, H.R. 7902, the Freight Railcar Act, last Friday. 

It has 29 co-sponsors, all of whom have previously signed on to a similar bill in past legislative sessions.

An iteration of this bill was first introduced in the...

https://www.freightwaves.com/news/congressional-leaders-push-for-tax-credit-for-scrapping-older-railcars

Why is the number of railcars in storage important?

A photograph of railcars parked in a rail yard.

Rail equipment manufacturers, suppliers and industry observers will talk about the number of railcars in storage being up or down. But why is that figure important?

Knowing how many railcars are in storage is significant because that figure helps observers understand network capacity in relation to the broader economy. Industry participants also look at the number of railcars in storage by railcar type to gauge expectations for where railcar lease rates are heading and the volume of orders that...

https://www.freightwaves.com/news/why-is-the-number-of-railcars-in-storage-important

Railcar owners say demurrage charges could reduce delays of private railcars

A photograph of tank cars parked in a rail yard.

Four shipper associations want the Surface Transportation Board to allow demurrage charges to be assessed on privately owned railcars as an incentive for freight railroads to move those railcars more efficiently through their networks.

North America Freight Car Association (NAFCA),  National Grain and Feed Association (NGFA), Chlorine Institute and National Oilseed Processors Association (NOPA) want the agency to revise rules governing the railroads’ use of private railcars. They argue that an...

https://www.freightwaves.com/news/railcar-owners-say-demurrage-charges-could-reduce-delays-of-private-railcars

TrinityRail permanently closing plant in Texas

Trinity Industries (NYSE: TRN) will permanently close a plant in Vidor, Texas, laying off 59 workers by April 30, according to a notice sent to state officials Tuesday.

Company officials said the facility’s closure is due to declining demand for railcars and maintenance services.

“As a result of the downturn in the rail maintenance sector, the number of orders for modifications and/or maintenance has significantly decreased,” Matt Tribolet, senior counsel for TrinityRail Maintenance Services,...

https://www.freightwaves.com/news/trinityrail-permanently-closing-plant-in-texas

FreightWaves Classics: TTX owns 10+% of all North American railcars

TTX railcars are part of this train. (Photo: TTX Company)

The North American railroad industry is about 190 years old. According to the railroad industry, there were over 1,620,000 railcars in North America at the beginning of 2020.

However, earlier this year it was estimated that as many as 24% of North America’s  railcars were “parked” or in storage of one kind or another. That percentage has no doubt fluctuated throughout a year that has been heavily impacted by the global pandemic and economic dislocations.

Of the 1.62 million railcars in North...

https://s29755.pcdn.co/news/freightwaves-classics-ttx-owns-10-of-all-north-american-railcars

CAI International sells railcar fleet to Infinity Transportation

A photograph of two railcars on a train track.

Container operator and transportation finance company CAI International is selling its remaining railcar fleet to Infinity Transportation, a transportation lessor and Global Atlantic Group subsidiary, so that it can concentrate on its container leasing business.

Infinity will buy the assets for $228.7 million in a deal that will close by Dec. 31.

“The sale of our remaining railcar fleet is an important milestone, as exiting the rail business allows us to execute our strategy of maximizing...

https://s29755.pcdn.co/news/cai-international-sells-railcar-fleet-to-infinity-transportation

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