Industry News
 

Domestic News

 

Kansas City Southern Rejects $20 Billion Takeover Bid From Investor Group

U.S. railroad operator Kansas City Southern has rejected a $20 billion takeover offer from an investor group, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The buyout consortium led by Blackstone Group Inc and Global Infrastructure Partners had offered Kansas City Southern $208 a share, which the company rejected, saying it undervalued the firm.
 

US Weekly Intermodal Volumes Push Higher

Weekly U.S. intermodal volumes were up by nearly a quarter last week amid increased activity for domestic and international containers and trailers. U.S. freight railroads moved 287,339 intermodal containers and trailers for the week that ended Saturday, a 24.5% increase compared with the same period in 2019, according to the Association of American Railroads.
 

Japan's Sumitomo Sells All of its Stake in U.S. Marcellus Shale Gas Project

Japanese trading house Sumitomo Corp has sold all its stake in the Marcellus shale gas project in the United States for an undisclosed sum, it said on Monday in a statement. Sumitomo bought a 30% stake in the project in 2010 from Rex Energy Corp, which went bankrupt in 2018. The project is now 70% owned and operated by PennEnergy Resources.
 

Intermodal Leads Rail Volume Recovery as Retailers Restock

Intermodal volume is up 6% quarter to date for CSX, and premium volume (automotive freight and finished vehicles) is up 4% quarter to date for Union Pacific, executives from the respective railroads shared at the Cowen Global Transportation Conference Wednesday.
 

Union Pacific Employs "Water Train" to Battle Western Wildfires

Western railroads throughout history have built "water trains" to be on standby in this region in case a fire broke out due to sparks from a locomotive or other causes. Union Pacific is employing a modern water train that consists of two rail cars that hold 12,500 gallons of water each, along with a pumping device to disperse the water, much like a fire truck does, to fight wildfires approaching their lines.
 

Port of LA Gives The Signal to Cargo Stakeholders

The Port of Los Angeles announced it is sharing Wabtec's Port Optimizer data so all supply chain stakeholders can better plan for incoming cargo. "We're giving all of our partners — railroads, chassis providers, truckers, warehouse operators and others in the supply chain — a three-week look at cargo coming into Los Angeles," said Port of LA Executive Director Gene Seroka.
 
 

International News

 

UWC to Deliver 300 Box Cars to RailSpetsTrans

United Wagon Company and RailSpetsTrans, a company specialised in domestic and international freight shipping in box cars, signed a contract for de supply of a box car fleet comprising 300 units. The rolling stock will be added to the fleet of the operator, which is active in the box car railway transport segment, by the end of H1 2021 under the terms of an agreement between RST and State Transport Leasing Company (GTLK).

 

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