Rail News Home Canadian Pacific 5/5/2022 Rail News: Canadian Pacific
CP announced in December 2020 it would design and build North America's first line-haul hydrogen-powered locomotive using fuel cells and batteries to power the locomotive's electric traction motors. Photo – cpr.ca
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May
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ATCO Group announced yesterday it has agreed to provide Canadian Pacific with engineering, procurement and construction services for two hydrogen production and refueling facilities in Alberta, Canada.
The hydrogen infrastructure at the CP fueling stations in Calgary and Edmonton will include a 1-megawatt electrolyzer, compression, storage and dispensing capabilities for locomotive refueling. In Calgary, the electrolyzer will be powered in part by renewable electricity from CP's existing 5MW solar power facility co-located at CP's headquarters.
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Rail News Home BNSF Railway 5/3/2022 Rail News: BNSF Railway
BNSF Railway Co. late last week reported double-digit increases in first-quarter 2022 revenue, net income and operating expenses compared with the same period a year ago.Total revenue in Q1 2022 climbed 10% to nearly $6 billion; operating income rose 8% to $2 billion; net income increased 10% to $1.4 billion; and operating expenses jumped 12% to $3.9 billion compared with the same quarter last year, according to a statement posted on BNSF's website.The Class I posted an operating ratio of 64.6% for the quarter, up from 63.7% a year ago.BNSF attributed the revenue increase primarily to a 14% increase in average revenue per car/unit resulting from higher fuel surcharge revenue driven by higher fuel prices along with increased rates per car. Revenue was partially offset by a 3% decrease in unit volume.In addition, BNSF reported revenue changes resulted from the following:
• Consumer products volumes decreased 8% due to lower international intermodal volumes caused by supply-chain challenges and lower automotive shipments;
• Agricultural products volumes fell 4% primarily because of lower grain exports, which were partially offset by higher volumes of ethanol and related commodities;
• Industrial products volumes rose 1% primarily due to growth in the U.S. industrial economy; and
• Coal volumes climbed 14% due to increased electricity generation, higher natural gas prices and improved export demand.BNSF attributed the increase in operating expenses to higher compensation and benefits, higher fuel costs and inflation.
BNSF Railway Co. late last week reported double-digit increases in first-quarter 2022 revenue, net income and operating expenses compared with the same period a year ago.Total revenue in Q1 2022 climbed 10% to nearly $6 billion; operating income rose 8% to $2 billion; net income increased 10% to $1.4 billion; and operating expenses jumped 12% to $3.9 billion compared with the same quarter last year, according to a statement posted on BNSF's website.The Class I posted an operating ratio of 64.6% for the quarter, up from 63.7% a year ago.BNSF attributed the revenue increase primarily to a 14% increase in average revenue per car/unit resulting from higher fuel surcharge revenue driven by higher fuel prices along with increased rates per car. Revenue was partially offset by a 3% decrease in unit volume.In addition, BNSF reported revenue changes resulted from the following:
• Consumer products volumes decreased 8% due to lower international intermodal volumes caused by supply-chain challenges and lower automotive shipments;
• Agricultural products volumes fell 4% primarily because of lower grain exports, which were partially offset by higher volumes of ethanol and related commodities;
• Industrial products volumes rose 1% primarily due to growth in the U.S. industrial economy; and
• Coal volumes climbed 14% due to increased electricity generation, higher natural gas prices and improved export demand.BNSF attributed the increase in operating expenses to higher compensation and benefits, higher fuel costs and inflation.