Railroad News

By This email address is being protected from spambots. You need JavaScript enabled to view it., Managing Editor

In the fourth quarter, CSX registered an operating ratio of 60.3, a 4.8 point improvement compared with its fourth-quarter 2017 ratio of 65.1 and a Q4 record, the Class I announced yesterday.

CSX has reversed an earlier decision and determined the Class I will participate in a project to upgrade the Howard Street Tunnel in Baltimore, Maryland federal and local officials announced late last week.

Railroad officials appeared to "walk away" from the proposal about a year ago, and are now willing to commit $91 million toward the tunnel project's cost, Maryland's congressional delegation said in a press release.

CSX is selling 373 miles of rail lines to Florida Gulf & Atlantic Railroad LLC (FGAR), according to a Nov. 6 filing with the Surface Transportation Board (STB).

The notice of intent to acquire the rail lines did not mention a sale price.

CSX last week unveiled its new Pride in Service community investment program to honor and improve the lives of military veterans, active duty military and first responders.

The multimillion-dollar commitment and "collaborative approach" will affect more than 100,000 people over the next two years, CSX officials said in a press release.

CSX will operate its 76th annual Santa Train on Nov. 17, as part of the Class I's efforts to deliver toys, food, winter clothing and other gifts to residents in need along the 110-mile route.

The train will travel through the Appalachia region and stop in 14 locations in Kentucky, Virginia and Tennessee. More than 15 tons of toys and other items will be delivered to families, CSX officials said in a press release.

CSX Corp. yesterday reported third-quarter net earnings jumped 95 percent to $894 million, or $1.05 per share, from $459 million, or 51 cents per share, in the same period a year ago. The per-share earnings beat analysts' estimates for the quarter.

CSX's operating ratio of 58.7 percent set a company third-quarter record. A year ago, CSX posted a third-quarter operating ratio of 68.4 percent.

Skyfarm Strategic Capital yesterday announced completion of the first phase of development on its rail-served Florida Commerce Park in Indiantown, Florida.

Located along State Road 710, the planned-unit development industrial site features a 4,000-foot CSX siding. The first phase involved grandfathering all entitlements and completion of horizontal infrastructure, including site work and grading, irrigation, and electrical and fiber optic work.

By This email address is being protected from spambots. You need JavaScript enabled to view it., Managing Editor

CSX has filed a lawsuit against Norfolk Southern Railway and Norfolk & Portsmouth Belt Line Railroad (NPBL), alleging the Class I and short line have conspired to create a monopoly at the Port of Virginia's largest container facility, a local newspaper has reported.

Filed in Norfolk federal court, the case alleges NS and the short line boxed out CSX from serving Norfolk International Terminals (NIT), The Virginian-Pilot newspaper reported Oct. 8. The case names as defendants three NS vice presidents and the president of the Belt Line.

CSX Corp. announced late last week that Chairman Edward Kelly III will retire in January after the company releases its fourth-quarter 2018 earnings.

The board elected John Zillmer chairman, effective upon Kelly's retirement.

CSX this week resumed rail service to the Port of Wilmington, North Carolina, following a stoppage due to Hurricane Florence.

The first inbound train arrived at the port on Tuesday night, according to a report on Wilmingtonbiz.com.

CSX Corp. yesterday announced a change in leadership for its merchandise and intermodal sales and marketing teams with the appointment of Dean Piacente to vice president of industrial products and Maryclare Kenney to VP of intermodal and automotive.

Piacente previously served as VP of intermodal. He now is responsible for the Class I's chemicals, metals, paper and forest product businesses. He has more than 30 years of experience across different segments at CSX.

CSX Corp. today announced a new operating management structure that will decentralize operational and support functions.

The changes — a continuation of the Class I's transition to scheduled railroading — are designed to "enhance safety, improve service, accelerate decision-making and drive operating efficiency," CSX officials announced in a press release.

The federal government and state of West Virginia this week announced a proposed settlement that calls for CSX to pay $2.2 million in penalties for water pollution violations related to a 2015 train derailment and subsequent oil spill.

Under the proposed terms, CSX will pay penalties of $1.2 million to the United States and $1 million to West Virginia, according to a press release issued by the U.S. Environmental Protection Agency (EPA).

Long Ridge Energy Terminal has completed its rail loop construction project in Hannibal, Ohio, which makes the facility the first in the Appalachian Basin to offer unit-train and barge transloading capabilities.

CSX serves the terminal.

CSX posted a boost in profit, revenue and a record quarterly operating ratio for second-quarter 2018 — indications that the Class I's scheduled railroading operations model has begun to pay off, company officials say.

CSX reported yesterday second-quarter net earnings of $877 million, or $1.01 per share, compared with $510 million, or 55 cents per share for the same period a year ago.

The New York State Department of Transportation (NYSDOT) has awarded $19 million in state funding toward a CSX rail-yard expansion in the town of DeWitt in central New York.

The project will create central New York's first inland port, which will allow for containerized freight to be moved between the Port of New York and New Jersey (PANYNJ) and CSX's DeWitt terminal, NYSDOT officials said yesterday in a press release.

CSX Corp. has appointed Mark Wallace executive vice president sales and marketing, and Diana Sorfleet, executive vice president and chief administrative officer, the Class I announced yesterday.

Wallace joined CSX in March 2017 as executive VP corporate affairs and chief of staff, and was named executive VP and CAO in January.