Norfolk Southern this week reported financial results for the quarter ended September 30, 2020. During the quarter, the company achieved net income of $569 million, diluted earnings per share of $2.22, and an operating ratio of 66.5%. These results include a previously announced $99 million non-cash impairment charge. Excluding the effects of the impairment charge, […]
Limestone, ME – 22.October – On 16.October, thirty-nine 89-foot flat cars departing the former Loring Air Force Base in Limestone, Maine, loaded with 76 refurbished M109 mobile howitzers, also known as Paladins. The move started with Maine Northern handling the howitzers (mistakenly called tanks by observers not in the know) from Loring to Oakfield, Maine, […]
Calgary, AB – 21.October –It has been no secret that Canadian Pacific has sights set on the two new east coast ports it gained through the Central Maine & Quebec Railway acquisition. While Searsport has been mentioned for the bulk and liquid terminal capacity, CP President and CEO, Keith Creel, expanded upon his goal for […]
CALGARY, AB – 19.October – Canadian Pacific Railway Limited has announced a strategic, multi-year rail agreement with A.P. Moller – Maersk to move freight through the ports of Vancouver and Montreal. The agreement is further to a September 15 announcement regarding the construction of a new, world-class transload and distribution facility in Vancouver to expand CP’s and Maersk Canada’s supply chain options […]
CALGARY, AB – 16.October – Canadian Pacific and OMERS Infrastructure , the defined benefit pension plan for municipal employees in the province of Ontario, announced today they have entered into a purchase agreement whereby CP will acquire full ownership of the Detroit River Rail Tunnel from certain affiliates of OMERS Detroit River Tunnel Partnership. The purchase […]
Magog, Quebec – 8.October – The PAL + management team has made the decision to cease operations of the Orford Express tourist train. The train had been inactive for the past few months due to COVID-19. This decision is the result of several factors including the growth and development of the group’s other businesses. […]
Beginning in July 2020, the South Carolina-based company, Rotor Blade LLC, began a 190-mile project along the New England Central Railroad (NECR) mainline at East Northfield, MA, that will reduce the number of overhanging trees on the railroad right-of-way. Amtrak has spent $1.2 million for the work that includes the aerial cutting by Rotor Blade […]
ArcelorMittal announced this morning that it has entered into a definitive agreement with Cleveland-Cliffs Inc. pursuant to which Cleveland-Cliffs will acquire 100% of the shares of ArcelorMittal USA for a combination of cash and stock. Under the terms of the agreement, ArcelorMittal expects to receive an aggregate equity value consideration of $1.4 billion upon closing […]
On Friday, 18.September, four years of planning and site preparation came to fruition as a 10-week construction blitz allowed the reopening of VTR’s new 360-foot Middlebury Rail Tunnel. The new prefab tunnel not only improves rail service by increasing clearances on the main route from Rutland to Burlington. The project was also designed to improve […]