Rail & Intermodal
The Indian federal government on Wednesday approved a proposal allowing the Ministry of Railways to set up joint ventures with various state government agencies for the development of rail infrastructure projects in the country.
After a tumultuous year that saw a high-profile management shake-up and intermodal volume declines, Hub Group finished 2015 with a strong fourth quarter. Profit jumped double digits in the last three months of 2015 on stronger intermodal and truck brokerage freight volume and recovering rail service, the company said.
Shippers using C.H. Robinson Worldwide to move truckload freight saw pricing drop 3 percent on average in the fourth quarter. The logistics operator's volume, net revenue and profit, on the other hand, all rose.
In its third white paper defending what has become an increasingly hostile bid for Norfolk Southern Railway, Canadian Pacific Railway detailed its confidence that a tie-up would pass muster with U.S. rail regulators.
Gilbert E. Carmichael, a courtly, silver-haired Mississippian who made a mark in business, politics, and as head of the U.S. Federal Railroad Administration and founder of the University of Denver’s Intermodal Transportation Institute, has died.
CSX Transportation says it remains committed to its planned North Carolina intermodal terminal, even after local and state officials nixed the project’s original construction site outside Raleigh.
Container Corporation of India, a state-owned intermodal rail operator, is set to jump into the shipping game as a non-vessel operating common carrier as part of a wider effort to diversify its business.
China may subsidize up to 50 percent of the containerized rail traffic between it and Russia, according to recent statements from Sergei Kopiev, chairman of Yuzhno Uralsky, one of Russia’s largest transport and logistics operators.
Mediterranean Shipping Co. has finalized the acquisition of CP Carga, the freight and logistics unit of Portugal’s state-owned railway.
Still fighting off an increasingly hostile takeover, Norfolk Southern Railway Wednesday assured shareholders that despite weak carload volume and tumbling intermodal traffic producing a double-digit profit loss, the railroad remains better on its own.