Rail & Intermodal
Airlines flying cargo between China and Europe will be hit hardest by Beijing’s One Belt, One Road trade strategy as the land bridge rail route proves too attractively priced to ignore, believes Steve Flowers, head of global freight forwarding at UPS.
The operators of the first containerized rail train from China to the Port of Rotterdam will be followed by others in August and September, another sign of growing Asia-Europe rail momentum.
U.S. freight volume will jump 29 percent in the next 11 years, with growing energy production resulting in pipelines taking a larger slice of total tonnage, and trucking and railroads’ seeing their share shrink, according to report released Monday.
Norfolk Southern Railway’s second-quarter earnings this year were not unlike its Class I counterparts: modest intermodal growth unable to combat declining fuel surcharge revenue and a soft coal market.
Canadian National Railway is working to replicate the success it’s had at Canada’s Port of Prince Rupert in the warmer waters of Mobile, Alabama.
Embraport in the Port of Santos has seen its prospects improve with the addition of regular rail service, adding a new dynamic to the lively competition for container traffic taking place in the country.
Increased intermodal traffic and higher rates on cargo weren’t enough to offset significant overall freight and coal losses in the second quarter for Union Pacific Railroad.
The combined impact of rising operating costs and sluggish domestic intermodal volume growth amid intense competition from private rail operators drove state-owned Container Corporation of India’s first quarter net profit down 26.5 percent year-over-year to approximately $32.5 million.
Hub Group said the intermodal rail service of its two major partners, Union Pacific Railroad and Norfolk Southern Railway, is improving, albeit not fully recovered, delivering a better financial performance than the prior quarter.
Still riding a wave of U.S.-bound intermodal cargo, Canadian National Railway surprised Wall Street analysts this week, posting a better-than-anticipated second quarter.