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US: Railroads Warn of Widespread Shutdowns Unless PTC Deadline Extended
2015-10-21 06:12:43| Railroads - Topix.net
Oct. 20--Major rail companies on Monday intensified their demands that Congress give them more time to roll out a complex accident prevention technology that can take control of trains to help mitigate human error -- or warned that they could face major service shutdowns around the country. Companies have been working for seven years to develop and install the multi-faceted technology -- called positive train control -- since receiving a federal mandate in the Rail Safety Improvement Act of 2008.
Tags: extended
deadline
widespread
warn
Canadian Railroads Earnings: What to Watch
2015-10-20 03:42:42| Railroads - Topix.net
This week marks the start of third-quarter earnings season for Canada's two main railroad companies. Canadian Pacific Railway Ltd. leads off early on Tuesday, followed by Canadian National Railway Co., the bigger of the two, on Oct. 27. Here are a few things to watch: REVENUE FORECASTS: Analysts polled by Thomson Reuters continue to expect both companies' revenue performance to be slightly stronger in the latest period.
Tags: watch
canadian
earnings
railroads
Railroads warn they will miss safety system deadline, cargo shipments at risk
2015-10-20 02:37:46| Railroads - Topix.net
Railroads warn they are on track to miss a Dec. 31 deadline for installing complex new safety technology on trains that carry cargo, and are pushing Congress to extend the deadline or else oil, gasoline and other goods moved by rail could be stopped in their tracks, FuelFix reports. Major U.S. freight railroads, including BNSF , CSX and Norfolk Southern , have said they will shut down many operations on Dec. 31 to comply with the deadline and avoid hefty fines; because railroads would be forced to begin shutting down services weeks earlier, they need a clear signal from Congress before the end of October, Association of American Railroads president Ed Hamberger says.
Friday Sector Laggards: Construction, Railroads
2015-10-17 14:09:39| Railroads - Topix.net
In trading on Friday, construction shares were relative laggards, down on the day by about 2.9%. Helping drag down the group were shares of Quanta Services , off about 26.9% and shares of Myr Group down about 6.4% on the day.
Tags: friday
construction
sector
railroads
Exclusive: Canada railroads cut crude freight rates to lure shipments
2015-10-15 23:48:45| Railroads - Topix.net
Canadian rail companies are slashing rates for shipping crude in their first serious effort to revive an industry rocked by the rout in global oil prices, according to shippers and terminal operators who are seeing discounts of as much as 25 percent. CALGARY, Alberta/NEW YORK: Canadian rail companies are slashing rates for shipping crude in their first serious effort to revive an industry rocked by the rout in global oil prices, according to shippers and terminal operators who are seeing discounts of as much as 25 percent.
Tags: canada
rates
cut
exclusive
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