Industry News

Domestic News


Takeaways From Cowen’s Rail Equipment Conference Call

“Railcar inquiries are largely in line with—if not slightly better than—the anemic levels seen two months ago. Translation into orders remains slow. Lease rates are still depressed, with no signs of improvement. Secondary market valuations appear to have eased. Locomotive upgrades could prove resilient. We’re constructive on Wabtec, Trinity and Greenbrier, but the latter two could see near-term pressure.”

AAR Says the INVEST in America Act Does Not Meet Freight Railroad’s Needs

While the House of Representatives recently passed the proposed five-year, $494 billion Investing in a New Vision for the Environment and Surface Transportation in America (INVEST in America) Act by a 35-25 margin, with the bill serving as a key component of the five-year, $760 billion outline, entitled “Moving Forward Framework,” which was released in January, it is fair to say language within the bill was not well-received by the freight railroad sector.

Metso to Deliver Rotary Railcar Dumper System to CSX

Metso has been awarded a contract for the design, supply and installation of a railroad car dumper system for CSX Transportation in the USA. The new Twin Cage Tandem Rotary Car Dumper System will be used for the unloading of coal from railroad cars at the CSX Curtis Bay Export Terminal, located in Baltimore, Maryland. The dumper system is expected to be operational in October 2021.

Shale Gas Pioneer Chesapeake Energy Files for Chapter 11 Protection

Chesapeake Energy, the high-flying shale company that helped turn the United States into a natural gas powerhouse and in the process pushed coal way down the ladder as a source of electricity generation, has filed for Chapter 11 protection of the U.S. federal bankruptcy code.

BP Sells Petrochemical Business to Ineos for $5bn

BP has sold its petrochemicals business for $5bn (£4.1bn) to Sir Jim Ratcliffe’s Ineos, in a deal that will boost the oil company’s under-pressure balance sheet.

Covia Announces Plan to Create Sustainable Capital Structure and Reduce Long-Term Obligations by More Than $1 Billion

Covia today announced that it has taken a major step toward creating a sustainable capital structure by reducing debt and eliminating excess fixed costs by more than $1 billion. The Company has entered into a restructuring support agreement (the "RSA") with holders of a majority of its secured debt for a comprehensive financial restructuring of its debt.

CN Plans Nearly C$1 Billion in Capital Projects

Canadian railway CN is investing C$985 million (US$720.1 million) in capital improvement projects in the provinces of Alberta, British Columbia and Quebec in 2020.

International News


NEWS Australasian Railway Association Outlines Two-Year Plan for Rail Freight

The two-year strategic plan will see the ARA support the development of rail freight to create stronger connections between cities and regions.

Innovative Flat Wagon Tests Begin

VTG and DB Cargo have launched test runs with the modular flat wagons under their m² joint development project to construct innovative wagons. The two companies are carrying out several tests and the approval is expected for 2021. The approval will allow VTG and DB Cargo to market the wagons independently.
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