Rail News

American Railcar Industries profit fell 82 percent to $1.1 million in the second quarter amid worries that one of its biggest customers, CIT, may seek bankruptcy protection.

Intermodal shipping firm Pacer International lost $7.3 million in the April-June quarter, down from a $22.9 million profit a year earlier, as revenue fell 27 percent to $377 million.

An angry flare-up over a union influence claim led the Senate Commerce, Science and Transportation Committee to both approve Daniel R.

A key Senate committee approved the president’s nominees for senior jobs at the Department of Transportation, to lead the Surface Transportation Board and fill a slot at the National Transportat

Many rail freight shippers are captive to a single carrier and it is “very rare” to have two lines serving them, said Sen. John Thune, R-S.D.

Talks to craft legislation that would revamp federal oversight of railroad-shipper disputes “continue to move forward but we’re not there yet,” said Sen. John Thune, S.D.

Sen. Jay Rockefeller said proposed rail reform legislation may not emerge in the few days remaining before the Senate starts a planned month-long recess on Aug.

Kansas City Southern bolstered its withered cash resources by completing a planned issue of $75 million worth of new common stock.

Defects in railroad tracks were the leading cause of train accidents in the first five months of 2009, says a Federal Railroad Administration report.

Short line railroads tracked by the RMI RailConnect index hauled more than 90,000 cargo units in the week ending July 25, for the first time in more than a month as carriers saw moderate but steady ga

As complaints mount about the slow pace of the federal stimulus program, planners of a truck staging ramp for shippers in St. Joseph, Mo., have just the opposite problem.

In 2007, when the ports of Los Angeles and Long Beach were experiencing robust growth, executives at the Alameda Corridor Transportation Authority suggested collection of the rail corridor’s user fees

At this point in the recession, with rail employment at the lowest levels of the decade and traffic stuck in a stubbornly low range, even hefty profits don’t inspire rail executives to see good times

Kansas City Southern named David R. Ebbrecht senior vice president operations for Kansas City Southern de Mexico.

Rail traffic strengthened again for large U.S.

Kansas City Southern, the smallest of North America’s major rail lines, earned $6.7 million in the April-June period, down 87 percent from the same point in 2008 but up from a $7.5 million loss

Canadian Pacific Railway had a 1.7 percent gain in second quarter net income to $145 million by selling part of its share in the Detroit River Tunnel Partnership, but saw hefty declines in freight rev

Port Metro Vancouver is putting off any possible legal action against Canadian National Railway until it receives a promised report of how many containers CN will need to resume rail instead of truck

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Eastern-U.S. carrier Norfolk Southern Railway saw its profit plunge 45 percent from a year earlier in the April-June quarter to $245 million, as revenue fell 33 percent to $1.9 billion.

Rail equipment maker FreightCar America said it expects to report sales of $104 million for the second quarter, down sharply from $141 million in the same quarter in 2008 but a strong improvement from

Rail equipment supplier FreightCar America said it has been overstating its accounts payable, and will end up restating past financing reports and raising its profit levels since fourth-quarter 2007.<

Intermodal and logistics firm Pacer International, in a sharp change in some of its transport operations as it struggles with steep losses, will sell its heavy-haul Pacer Transport trucking business t

Union Pacific Railroad will have to grant rate relief and pay reparations to a captive Oklahoma utility, in amounts the Surface Transportation Board said could reach $100 million over 10 years, as the

Canadian National Railway is taking a cautious track toward its goal of speeding up rail service around the congested Chicago Freight hub.

The largest railroads operating in the U.S. shed another 1,922 jobs from mid-May to mid-June, leaving 11,575 fewer rail jobs than six months ago.

The Port Authority at Vancouver, British Columbia, is canvassing its options, including legal action, after Canadian National Railway switched its rail service to trucks for three of the port's four c

BNSF Railway struck a different course than most freight companies amid the sharp traffic slump, actually increasing its profit 15.4 percent to $404 million from efficiencies in the second quarter.

North American short lines got some good news for a change in the latest reading of traffic counts, as an industry index showed the highest shipment counts in a month.

Freight traffic at major U.S.

GATX, a railcar and maritime asset leasing provider, earned a profit of $12.7 million on total gross income of $288.1 million in the second quarter. Gross income was down 24 percent.

Union Pacific Railroad posted a $468 million profit in the April-June quarter, a 12 percent fall in income that was milder than the plunge in traffic counts, as the railroad cut costs and boosted some

Intermodal firm Hub Group&rsquo;s 45 percent drop in net profit, to $8.3 million, still left it with &ldquo;respectable returns even in this difficult freight environment&rdquo; for all its lines of b

At a time when normal rail freight traffic has plunged, Canadian National Railway is revving up its jet fuel hauls at Toronto&rsquo;s Lester B. Pearson International Airport.

Canadian National Railway&rsquo;s profit fell 16 percent in the second quarter to $352 million, but President and CEO E.

The head of Norfolk Southern Railway used remarks to the National Governors Association to promote multi-state NS intermodal corridor programs as a way for states to help fight highway congestion and

There is plenty of pain in the latest earnings report by railcar builder Greenbrier, reflecting the damage the sharp recession is inflicting on industry suppliers.

CSX Transportation, like the other big North American railroads, is rolling fewer trains, paying fewer workers and handling less cargo than last year, but as the first rail line to report second-quart

Kansas City Southern and Wallenius Wilhelmsen Logistics will open a vehicle distribution center for automaker Nissan near Houston, using the new rail segment KCS opened there this month.

Short line railroads across North America showed just a mild uptick in traffic after the holiday-shortened July 4 week, leaving traffic weaker than during June for the seven days ending July 11.