Hints and tips:
...Tankers in a 149-car Norfolk Southern train carrying vinyl chloride caught fire and derailed after an overheating wheel bearing went undetected until too late....
...It also has extensive operations in Mexico and owns a 50 per cent stake in the Panama Canal Railway Company....
...Union Pacific and Norfolk Southern both say they move a ton of freight 444 miles on a single gallon of diesel. The industry continues to invest to improve its sustainability....
...Norfolk Southern’s revenue and income rose strongly in the second quarter thanks as the US rail operator was boosted by the easing of Covid-19 restrictions....
...The last big deal occurred in 1999, when CSX and Norfolk Southern took over and divided Conrail between themselves....
...Whoever wins the Canadian battle over Kansas City Southern, the smallest of the seven Class 1 railways that haul US freight, will pull off the first major rail deal since 1999, when CSX and Norfolk Southern...
...The race to buy the smallest of seven Class 1 railway groups that service the North American freight market is the boldest attempt to consolidate the industry since CSX and Norfolk Southern acquired Conrail...
...It is a change of direction for Canadian Pacific, rebuffed in two public courtships of rivals, first of CSX and then of Norfolk Southern. Both concentrated on the US north-east....
...Canadian Pacific Railway’s proposed takeover of the Kansas City Southern railroad is a $29bn bet on smooth commerce between Canada, the US and Mexico after the three countries replaced their contentious...
...The Norfolk Southern Railway, which reports results this week, has outlined plans to eliminate more than 500 positions this year....
...CSX’s eastern rival Norfolk Southern disclosed Wednesday it would adopt precision railroading, meaning a majority of large North American freight rail companies has now embraced it....
...Consolidation has left the US with two main railway companies east of the Mississippi river — CSX and Norfolk Southern — and their networks only partially overlap....
...When CP last year unsuccessfully attempted to take over Norfolk Southern, another eastern US network, the company wrote: “Precision railroading is a set of non-discriminating principles that can be effectively...
...of Norfolk Southern....
...Tim O’Toole, FirstGroup’s chief executive, was the last top manager of Conrail, a US rail freight operator, before it was taken over and split between Norfolk Southern in 1998....
...“Norfolk Southern is now the outlier,” Mr Hatch says of how the company has suffered compared with others....
...Bill Ackman stepped up pressure on Norfolk Southern’s board to reconsider its rejection of Canadian Pacific’s takeover proposal when the activist investor fiercely criticised the US railway’s management....
...as highly consolidated....
...However, the high freight rates – about twice the rates in China – have prompted many companies to ship cargo by truck instead, so today trains carry just 30 per cent of India’s freight, down from nearly...
...But the activity at Lamberts Point, owned by Norfolk Southern Railway, also points to the challenges facing the rail industry, many of which are linked to dramatic shifts in the US energy markets....
...Norfolk Southern suffered a severe crash in 2005 when a train hauling chlorine gas derailed and the fumes killed nine people....
...Coal’s decline poses even greater problems for the main railways in the eastern US – CSX and Norfolk Southern – which rely heavily on carrying more expensively mined coal from the Appalachians, Pennsylvania...
...Pacific earned only 11 per cent of its third-quarter freight revenues from coal, against 26 per cent in the same period for Norfolk Southern, the railroad most dependent on the commodity....
...Investment in US freight railways will fall if proposed federal rail legislation is passed in its present form, the chief executive of the sector’s third-largest company has warned after announcing improved...
...Other companies among the big four US railroads saw share price rises on yesterday’s news. Main rival Union Pacific rose 6.8 per cent, while Norfolk Southern rose 2.4 per cent and CSX 6 per cent....
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