North-American rail

U.S. domestic intermodal spot rates aren’t rising, suggesting the traditional surge of imports ahead of Chinese New Year, when Asia factories close for about two weeks, is weak.

Canadian Pacific Railway CEO E. Hunter Harrison said Wednesday he will abandon a proposed takeover of Norfolk Southern Railway if shareholders at the Virginia railroad fail to pressure their board to sit down at the negotiating table with their Canadian counterparts.

Canadian Pacific Railway said Tuesday it plans to submit a resolution asking Norfolk Southern Railway shareholders request their board of directors engage in “good faith discussions” with CP regarding its proposed merger, the newest approach after the Calgary-based company has been rebuffed three times.

Outlook for the Class I rail industry in 2016 varies from cautiously optimistic to downright grim. Even though intermodal service has generally improved, the railroads are finding competition from the trucking sector — for domestic loads and marine containers — as fierce as ever.

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.

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.

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.

Canadian National Railway on Tuesday gave an uncertain but far rosier outlooks for 2016 than most of its North American counterparts after strong international intermodal volume gains helped propel it to a double-digit profit rise.

The potential merger of Canadian Pacific and Norfolk Southern railways, and the resulting tie-up such consolidation could spur, would shake up the Class I industry — and their shipper customers — to a degree not seen since the Staggers Act of 1980 dramatically reduced the number of major railroads operating in the U.S.

Shippers across the U.S. can expect delays this week as the Mid-Atlantic and Northeast dig out from Winter Storm Jonas, which dumped two or more feet of snow on a region stretching from West Virginia to New England and created icy road conditions in an even larger area.

Sluggish economic conditions derailed Canadian Pacific Railway’s domestic intermodal success, pulling down traffic 9 percent and contributing to a 29 percent profit decline.

Union Pacific Railroad said high inventories, a decline in premium shipments and sluggish retail sales are pulling down its intermodal volume and revenue from the hauling of containers.

Canadian Pacific Railway has asked the U.S. Department of Justice to investigate a “collective campaign” spearheaded by other major railroads to block its increasingly hostile stock-and-cash bid for Norfolk Southern Railway.

Two years since the devastating 2013-14 winter wreaked havoc on U.S. intermodal rail networks, North America’s largest railroads are on the cusp of restoring reliability and speeds to the level shippers once took for granted.

Canadian Pacific Railway criticized the head of Union Pacific Railroad for pledging to try to stop Class I industry consolidation, pointing out that the U.S. Western railroad became the largest in North America because of numerous mergers and has praised consolidation.

The top executive at the largest U.S. railway said Wednesday he will do everything within his power to prevent further consolidation within the Class I rail industry, the likes of which has been suggested with the proposed tie-up of Canadian Pacific and Norfolk Southern railways.

Just as Class I railroads announce service has finally recovered to 2013 levels, harsh winter weather is testing their improved train speeds and dwell times.

CSX Transportation forecasts flat intermodal growth in the first quarter, as the loss of international intermodal business to Norfolk Southern Railway is expected to offset domestic volume increases gained from highway conversions and a key customer shifting loads away from its U.S. Eastern rail archrival.

Canadian Pacific and Norfolk Southern railways clashed again over a proposed merger, with the former making another case for consolidation and the latter showing off again how it’s boosting efficiency independently by combining operations.

With weaker carload volume due to lagging industrial and energy sectors and intermodal revenue despite volume growth, CSX Transportation’s release of its fourth quarter earnings Tuesday sent a warning to the Class I industry.

Bill Clement, head of CSX Transportation’s intermodal business, will be leaving the company, as part of a second wave of management changes.

Shovels could be in the ground on Canadian National Railway’s planned $196 million intermodal and logistics hub outside of Toronto as soon as 2017. That is, if a recently submitted environmental impact statement passes muster with Canada’s Environmental Assessment Agency.

Kansas City Southern Railway says it remains “cautious” heading into 2016, after a soft market contributed to a rocky 2015 and promises to do the same in the new year.

If an uncertain global economy wasn’t enough for shippers and transportation providers, 2016 will be filled with major changes, from the massive container shipping weight mandate to liner consolidation. Other threats and opportunities will likely emerge during the year, but the 10 trends outlined here will definitely be in play and impact global supply chains. Don’t say we didn’t warn you.

U.S. freight rail traffic was down 9.7 percent year-over-year in the week ending Dec. 26 as a double-digit drop in carload traffic offset a 1.6 percent gain in intermodal volume, the Association of American Railroads reported.

U.S. domestic intermodal spot rates continue to fall thanks to plentiful capacity aided by mild weather and weak demand, according to third-party logistics provider IDS.

Japan’s Sumitomo Mitsui Trust Bank Ltd. will indirectly acquire half of Illinois-based Midwest Railcar Corp., making inroads into the increasingly lucrative U.S. freight railcar leasing market.

Canadian Pacific Railway got a lump of coal in its stocking days before Christmas after Norfolk Southern Railway said Wednesday it had rejected a third buyout bid.

U.S. and Canadian rail regulators will be getting an earful from shippers on either side of the border if a proposed Canadian Pacific and Norfolk Southern railway merger goes through.

Canadian Pacific Railway said its acquisition of Norfolk Southern Railway would improve fluidity through Chicago, but doubts remain whether a tie would do much to free up bottlenecks at the top U.S. freight hub — even if the deal gives CP control of a key belt railroad in the area.

Canadian Pacific Railway’s attempt to takeover Norfolk Southern Railway has already raised alarm with a group of Illinois lawmakers and prompted a pointed response from the Canadian railroad.

A proxy war has been all but declared, analysts say, after Canadian Pacific Railway announced Wednesday it had upped its hostile bid for Norfolk Southern Railway by some $3.4 billion.

With expectations that Canadian Pacific Railway is about to launch a proxy fight for control of Norfolk Southern Railway, the Calgary-based railroad’s recent response to an NS white paper is the latest attempt to convince investors to give the deal yet another look at its pitch.

BNSF Railway is flirting with the idea of a potential CSX Transportation or Norfolk Southern Railway acquisition as Canadian Pacific aims to acquire the latter railroad, potentially setting off a wave of consolidation in the Class I industry.

U.S. lawmakers are expected to pass an overhaul of the Surface Transportation Board, giving the nation’s main freight rail regulator more teeth to crackdown on service issues and boost competition in the industry.

Norfolk Southern Railway’s second rejection of a takeover bid from Canadian Pacific has ignited talk of a potential hostile takeover — something the Class I railroad industry has never seen and is unlikely to occur, according to an intermodal analyst.

At least two Class I railroads are cracking down on how long shippers can keep their containers and trailers at intermodal terminals via shorter free-time windows — and one of the railways has hiked storage fees — in an effort to improve network velocity.

Norfolk Southern Railway has rejected an unsolicited takeover bid from Canadian Pacific Railway after the NS board said the $28 billion takeover bid undervalued the company’s stock and the potential regulatory hurdles would threaten business operations.

From a near-meltdown at U.S. West Coast ports to a wave of mergers and acquisitions, with hints of more in the container line industry, 2015 has been full of plenty of surprises.

A decision on whether BNSF Railway will be allowed to build an intermodal container transfer facility considered crucial to growth at the ports of Los Angeles and Long Beach could be made next spring.