Jacksonville, Florida-based Patriot Rail has completed its acquisition of Delta Southern Railroad (DSRR), which operates two line segments in Louisiana.
DSRR operates over 40 miles of track between two lines and it serves two port facilities on the Mississippi River, Lake Providence Port and Madison Parish Port. The short-line operator first announced plans to acquire DSRR in September.
DSRR interchanges with Kansas City Southern and Union...
Trinity Rail Group and GATX have entered into a $1.8 billion long-term railcar supply agreement, both parties announced Monday.
The agreement calls for Trinity Rail Group, a subsidiary of Trinity Industries (NYSE: TRN), to supply railcar lessor GATX (NYSE: GATX) with a mix of 15,000 newly built tank and freight railcars over six years.
Railcar manufacturer and lessor Trinity, headquartered in Dallas, will deliver 6,000 tank cars at a rate of 1,200 cars each year between 2024 and 2028, and a mix...
https://www.freightwaves.com/news/trinity-gatx-reach-18b-railcar-supply-agreement
Executives with railcar lessor and manufacturer Trinity Industries were upbeat about the second half of 2022 despite lingering rail service issues and the Class I railroads’ challenge of hiring more employees to improve network capacity.
“We’re hearing from our shipper customers that there are more originations available than industry data would suggest,” Trinity President and CEO Jean Savage told investors during Trinity’s second-quarter 2022 earnings call earlier this week. “The railroads...
Canadian Pacific will become the primary rail provider at the ports of Vancouver, Montreal and Saint John for ocean carrier CMA CGM as part of a multiyear agreement, the railway announced Tuesday.
CP’s access to the ports of Vancovuer and Montreal, as well as CP’s connection to Port Saint John in New Brunswick via the New Brunswick Southern Railway, will help the railway move the majority of freight from CMA CGM to key Canadian and U.S. Midwest...
Like its peers, railcar lessor Trinity Industries expects improving macroeconomic conditions to support the company in 2022. Anticipated higher rail volumes for agricultural products, chemicals and construction materials may support demand for boxcars, gondolas and covered hoppers, Trinity President and CEO Jean Savage told investors during the company’s fourth-quarter 2021 earnings call Thursday.
“Considering both the supportive industry environment and our internal business optimization work,...
https://www.freightwaves.com/news/trinity-industries-sees-supportive-market-for-railcar-lessors
Railcar lessor Trinity Industries is selling its highway products business for $375 million in cash.
The company has entered into a definitive agreement with Monomoy Capital, a middle market private equity fund. The highway products business manufactures and supplies commercial products such as guard rails, crash cushions and traffic control barriers.
The agreement, announced Wednesday, is subject to customary closing conditions and adjustments. The transaction, which has been approved by...
https://www.freightwaves.com/news/trinity-industries-sells-its-highway-products-group
Railcar lessors Trinity Industries and GATX recenyl reported their third-quarter 2021 financial results:
Trinity eyes ‘stronger underlying leasing dynamics’Although higher railcar loadings and increased levels of rail traffic are boosting demand for leasing railcars, Trinity Industries expects market growth for railcar leasing to be choppy as supply chain disruptions continue to be a headwind.
“We believe stronger underlying leasing dynamics and higher car pricing should continue to positively...
https://www.freightwaves.com/news/trinity-industries-gatx-anticipate-market-growth-to-be-nonlinear
BNSF has reopened an intermodal facility in Arkansas to unlock capacity in the greater Memphis, Tennessee, area.
The railroad said Monday that it has reopened the Harvard Intermodal Facility in Marion, Arkansas, effective immediately to meet increased intermodal demand in greater Memphis.
All international intermodal shipments originating at the Port of Long Beach’s Pier T Terminal will now terminate at the Harvard facility,...
Rivals Canadian Pacific (NYSE: CP) and CN (NYSE: CNI) are still at work seeking to convince the Surface Transportation Board (STB), industry stakeholders and Kansas City Southern (NYSE: KSU) shareholders which Canadian railway is the best company suited to merge with Kansas City Southern (KCS).
CP and KCS had announced plans to merge in March, while CN said in April that it is also interested in acquiring KCS. Both CP and CN are Canadian railways, and they propose that a merger with KCS would...
https://s29755.pcdn.co/news/canadian-pacific-cn-continue-to-lobby-for-merger-support
The market for freight railcars is showing signs of improvement but data for railcar orders, deliveries and backlogs still reflects current market softness.
Railcar orders rose by 80% to 6,227 railcars in the first quarter of 2021 from the fourth quarter of 2020, although orders are still below pre-pandemic levels, according to the Railway Supply Institute (RSI).
In comparison to Q1 orders, the quarterly average for 2019 was about 9,300 railcars, RSI said. RSI’s American Railcar Institute...