Rail News Home Norfolk Southern Railway 10/27/2021 Rail News: Norfolk Southern Railway
Norfolk Southern Corp. today reported third-quarter 2021 financial results, which included Q3 records for net income, diluted earnings per share, income from railway operations and operating ratio.Third-quarter net income was $753 million, diluted earnings per share was $3.06, income from railway operations was $1.1 billion and the operating ratio was 60.2%.Railway operating revenue increased 14% to $2.85 billion compared with Q3 2020.Railway operating expenses during the quarter rose 3% to $1.7 billion. Last year’s results included a $99 million impairment charge related to an equity method investment. Excluding the impairment charge, operating expenses were up 10% compared with adjusted operating expenses in Q3 2020, driven by higher fuel, purchased services and compensation and benefits expenses.The $1.1 billion in railway operations income was a 35% increase on a year-over-year basis. Excluding the effect of the impairment charge in Q3 2020, income from railway operations was up 21%.The operating ratio of 60.2% was an improvement of 630 basis points over Q3 2020. Excluding the effect of last year’s impairment charge, the operating ratio improved 230 basis points over the adjusted results for Q3 2020."Our team delivered a strong financial performance in the quarter, producing a number of third-quarter records," said NS Chairman, President and CEO James Squires in a press release. "The actions taken by our employees show our commitment to find sustainable solutions for our customers and shareholders in the face of significant supply chain disruptions."
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Rail News Home Norfolk Southern Railway 10/26/2021 Rail News: Norfolk Southern Railway
Norfolk Southern Corp. has donated the full Southern Railway company archives, as well as $500,000, to the Atlanta History Center.The archives, which include hundreds of thousands of pages of documents — from photos to construction plans and reports — show the history of Atlanta’s transit growth from the 1840s to today. The $500,000 will help the museum digitize and preserve the collection. Southern Railway merged with Norfolk & Western in 1982 to create the present-day Norfolk Southern Railway. NS Chairman, President and CEO James Squires said the archives belong to Atlanta because of the history they represent."The history of Southern Railway is inseparable from the history of this region," Squires said in a press release. Decades of rail history is ultimately the reason Atlanta has grown into the city it is today, said Sheffield Hale, president and CEO of the Atlanta History Center."This collection is crucial to uncovering the many stories behind the city's transformation," Hale said. "We're excited to have the opportunity to preserve this history and make it publicly available for students and teachers, researchers, and those who are simply interested in Atlanta."
Norfolk Southern Corp. has donated the full Southern Railway company archives, as well as $500,000, to the Atlanta History Center.The archives, which include hundreds of thousands of pages of documents — from photos to construction plans and reports — show the history of Atlanta’s transit growth from the 1840s to today. The $500,000 will help the museum digitize and preserve the collection. Southern Railway merged with Norfolk & Western in 1982 to create the present-day Norfolk Southern Railway. NS Chairman, President and CEO James Squires said the archives belong to Atlanta because of the history they represent."The history of Southern Railway is inseparable from the history of this region," Squires said in a press release. Decades of rail history is ultimately the reason Atlanta has grown into the city it is today, said Sheffield Hale, president and CEO of the Atlanta History Center."This collection is crucial to uncovering the many stories behind the city's transformation," Hale said. "We're excited to have the opportunity to preserve this history and make it publicly available for students and teachers, researchers, and those who are simply interested in Atlanta."
Oct
26
Rail News Home Union Pacific Railroad 10/26/2021 Rail News: Union Pacific Railroad
Union Pacific Railroad yesterday announced additional steps aimed at reducing the supply chain backlog and speeding up the flow of goods to and from the West Coast ports.To encourage weekend in-gates and reduce backlog at the ports, UP will run a pilot program through Dec. 31, offering a $60 per container refund to its ocean carrier customers for each container in-gated on Saturdays and Sundays at its near-port intermodal container transfer facility (ICTF) in Long Beach, California.The refund will apply to containers in-gated incremental to each customer's current 2021 weekend average, UP officials said in a press release.UP recently increased gate access to 24/7 at ICTF, adding 20 weekend hours and providing customers with greater opportunities to move freight in and out. The move supports the ports of Los Angeles’ and Long Beach’s recent move to 24/7 operations.The refund is another example of Class I's continued efforts to find creative solutions to ease supply chain congestion, company officials said. Other steps UP has taken include the reopening of its Global III terminal outside Chicago and its Englewood terminal in Houston, providing additional inland storage capacity. UP has also shuttled freight to less stressed terminals within the same metroplex to maximize freight availability for its customers.With the nationwide driver shortage being a key factor in the congestion, UP is leveraging technology with its UPGo app to decrease the time it takes a driver to drop off and pick up intermodal containers, and UP is utilizing subsidiary drayage capacity through its LOUP subsidiary to help shippers.
Union Pacific Railroad yesterday announced additional steps aimed at reducing the supply chain backlog and speeding up the flow of goods to and from the West Coast ports.To encourage weekend in-gates and reduce backlog at the ports, UP will run a pilot program through Dec. 31, offering a $60 per container refund to its ocean carrier customers for each container in-gated on Saturdays and Sundays at its near-port intermodal container transfer facility (ICTF) in Long Beach, California.The refund will apply to containers in-gated incremental to each customer's current 2021 weekend average, UP officials said in a press release.UP recently increased gate access to 24/7 at ICTF, adding 20 weekend hours and providing customers with greater opportunities to move freight in and out. The move supports the ports of Los Angeles’ and Long Beach’s recent move to 24/7 operations.The refund is another example of Class I's continued efforts to find creative solutions to ease supply chain congestion, company officials said. Other steps UP has taken include the reopening of its Global III terminal outside Chicago and its Englewood terminal in Houston, providing additional inland storage capacity. UP has also shuttled freight to less stressed terminals within the same metroplex to maximize freight availability for its customers.With the nationwide driver shortage being a key factor in the congestion, UP is leveraging technology with its UPGo app to decrease the time it takes a driver to drop off and pick up intermodal containers, and UP is utilizing subsidiary drayage capacity through its LOUP subsidiary to help shippers.
Oct
26
Rail News Home Kansas City Southern 10/26/2021 Rail News: Kansas City Southern
Kansas City Southern today announced a collaboration with Suministro Industriales Potosinos SA de CV (SIPSA) and TransDevelopment Group (TDG) to develop the Central Bajio Vehicle Distribution Center in Mexico, an origin and destination terminal for the shipment of finished vehicles.Strategically located on a KCS mainline and developed, owned and operated by SIPSA and TDG, the VDC will serve the rapidly-growing Bajio region and strong Mexico City area demand, KCS officials said in a press release.The Central Bajio VDC will have a capacity for up to 10,000 vehicles, unit train service and direct truck access to Mexico City, Guadalajara and the Bajio region. The terminal is located about 25 miles west of Queretaro, Mexico’s fastest growing city, along the KCS mainline between Monterrey and Lazaro Cardenas.It will be constructed adjacent to SIPSA’s Transload and Cross Dock Terminal — the highest-capacity terminal of its kind on the KCS network. The surrounding area is the largest center of automobile manufacturing in Mexico."Development of the Central Bajio VDC adds velocity, capacity and markets,” said Rodrigo Flores, KCS vice president of automotive and intermodal. “One goal is to speed the turnaround for multilevel rail cars making a round-trip between the U.S. and Mexico improving the availability of rail cars in the region. Unloading rail cars in the Bajio, near many of the assembly plants where empty rail cars are needed, adds capacity and reduces congestion."
Kansas City Southern today announced a collaboration with Suministro Industriales Potosinos SA de CV (SIPSA) and TransDevelopment Group (TDG) to develop the Central Bajio Vehicle Distribution Center in Mexico, an origin and destination terminal for the shipment of finished vehicles.Strategically located on a KCS mainline and developed, owned and operated by SIPSA and TDG, the VDC will serve the rapidly-growing Bajio region and strong Mexico City area demand, KCS officials said in a press release.The Central Bajio VDC will have a capacity for up to 10,000 vehicles, unit train service and direct truck access to Mexico City, Guadalajara and the Bajio region. The terminal is located about 25 miles west of Queretaro, Mexico’s fastest growing city, along the KCS mainline between Monterrey and Lazaro Cardenas.It will be constructed adjacent to SIPSA’s Transload and Cross Dock Terminal — the highest-capacity terminal of its kind on the KCS network. The surrounding area is the largest center of automobile manufacturing in Mexico."Development of the Central Bajio VDC adds velocity, capacity and markets,” said Rodrigo Flores, KCS vice president of automotive and intermodal. “One goal is to speed the turnaround for multilevel rail cars making a round-trip between the U.S. and Mexico improving the availability of rail cars in the region. Unloading rail cars in the Bajio, near many of the assembly plants where empty rail cars are needed, adds capacity and reduces congestion."