Railroad News

[Editor's note: Story was updated at 3:16 p.m. to include a statement from the Association of American Railroads.]

CSX Corp. today issued the following statement announcing the death of E. Hunter Harrison:

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CSX President and Chief Executive Officer E. Hunter Harrison has taken medical leave due to unexpected complications from a recent illness, the Class I announced last night.

American Resources Corp., through its subsidiary Quest Energy Inc. and Deane Mining LLC, has shipped its first unit train of thermal coal from a previously idled Mill Creek coal preparation plant in Letcher County, Kentucky, the company announced late last week.

The plant's operation is made possible in part through the start of the Access Energy underground mine, which belts directly to the plant's raw coal stockyard, according to a press release issued by American Resources.

CSX has been selected as a recipient of the National Defense Transportation Association's (NDTA) 2017 Distinguished Service Award in recognition of the railroad's "invaluable support of the organization's goals and aims."

The NDTA is a nonpolitical, nonprofit educational association that works to benefit national security and defense by sharing information about logistics, transportation and passenger travel services.

CSX Corp. announced today that three of its top executives — Cindy Sanborn, Fredrik Eliasson and Ellen Fitzsimmons — will leave the company effective Nov. 15.

Executive Vice President and Chief Operating Officer Sanborn and Executive Vice President and Chief Sales and Marketing Officer Eliasson will resign. Fitzsimmons — who serves as executive vice president of law and public affairs, general counsel and corporate secretary — will retire, according to a CSX press release.

CSX Corp. today reported third-quarter net income increased 1 percent to $459 million, or 51 cents per share, compared with $455 million, or 48 cents per share, during the same period a year ago.

Excluding a $1 million restructuring charge in this year's Q3 results, adjusted earnings per share remained at 51 cents.

CSX Corp. is making progress in its implementation of a new operating model, the company announced yesterday. 

The Class I has improved its transit time, train speed, car-handling efficiency and terminal fluidity as it continues to implement the principles of precision scheduled railroading, said President and Chief Executive Officer E. Hunter Harrison in a press release. 

CSX was able to quickly restore service throughout the areas affected by Hurricane Irma and continues to improve in key service metrics as the railroad implements its new model of precision scheduled railroading, President and Chief Executive Officer E. Hunter Harrison announced yesterday.

After the hurricane slammed Florida on Sept. 10 with devastating winds and flooding, CSX re-established rail service in most of the Southeast United States within hours, into and out of northern Florida within 24 hours, and throughout the vast majority of the state within a week, according to a CSX press release.

CSX Corp. has been named to the Dow Jones Sustainability Index for North America for the seventh consecutive year, the Class I announced yesterday.

The listing recognizes the company's sustainable and responsible business practices. CSX was the only U.S.-based railroad and one of three transportation companies included on the North American index this year, according to a press release.

CSX Corp. has eliminated 2,700 jobs so far this year, as the Class I works through its transition to a more efficient operating plan, Chief Financial Officer Frank Lonegro told investors at a conference last week.

In addition to the 2,700 employees, CSX has eliminated 1,000 contractor and consultant positions, Lonegro said during a presentation at the Cowen & Co. Global Transportation Conference held in Boston.

CSX this week began operations at its new Pittsburgh intermodal terminal in McKees Rocks, Pennsylvania, the railroad announced yesterday.

The terminal offers shippers a new transportation option to move freight to and from Western Pennsylvania, CSX officials said in a press release.

The National Hurricane Center's latest projected track of Hurricane Irma has prompted the Surface Transportation Board (STB) to postpone its Sept. 12 listening session concerning CSX's rail service issues, the board announced yesterday.

The center has projected landfall in southern Florida early on Sept. 11. CSX's headquarters are based in Jacksonville, Fla.

CSX has made "very good progress" in its transition to a precision scheduled railroading model, with the railroad returning to a "normal operating rhythm," President and Chief Executive Officer E. Hunter Harrison announced today.

Harrison is now confident many of the service problems recently reported by CSX customers "are behind us," according to a CSX press release.

CSX has responded to the Surface Transportation Board's (STB) request for details on the Class I's new operating plan for the remainder of the year.

In a letter to STB Acting Chairwoman Ann Begeman, CSX President and Chief Executive Officer E. Hunter Harrison described the railroad's plan for implementing precision scheduled railroading (PSR) across the CSX network and throughout its organization.

The Surface Transportation Board (STB) will hold a public listening session Sept. 12 to hear from CSX about its recent rail service problems and efforts at recovery, the board announced yesterday.

The hearing also will allow rail shippers and other stakeholders to report on the repercussions of CSX's rail service problems and their experience with the railroad's actions to restore service to acceptable levels, STB officials said in a press release.