Domestic News
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Quarterly reports traditionally are a financially portrayed score card written to investors. Equity and debt holders want to see how the railroads are doing. |
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Frigid temperatures across swaths of the U.S. injected new momentum into the rally in energy markets Monday, boosting demand for fuel and power while threatening oil-and-gas production in Texas. Brent-crude futures, the benchmark in international energy markets, rose 1.4% to $63.30 a barrel, their highest level since January 2020. |
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Even after experiencing a sudden drop in demand due to the COVID pandemic, the U.S. ethanol industry still had a significantly positive impact on the U.S. economy in 2020, according to the annual ethanol industry economic impact study released today by the Renewable Fuels Association. The economic analysis was prepared for the RFA by John M. Urbanchuk, Managing Partner of ABF Economics. |
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President Joe Biden, Vice President Kamala Harris and U.S. Transportation Secretary Pete Buttigieg met last week with Senate Environment and Public Works Committee Chair Tom Carper and other senators to discuss transportation infrastructure legislation. The bipartisan group of senators included Ben Cardin, Shelley Moore Capito and James Inhofe. |
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Ceres Global Ag. Corp., subsidiary Riverland Ag. Corp. and Farmer's Cooperative Grain and Seed Association last week completed the formation of a joint venture, Farmers Grain LLC, which will include a grain-merchandising facility in Thief River Falls, Minnesota. In spring, the joint venture will begin an expansion project designed to enable loading unit trains within the next 18 months. The facility will be served by Canadian Pacific. |
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The ports of Los Angeles and Long Beach have been overburdened with a deluge of container imports over the last few months. As a result, cargo heading into and out of the ports has slowed to a relative crawl, as the ports deal with record-breaking volume alongside a reduction in staff related to the COVID-19 pandemic. |
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Drax Group plc announced on Feb. 8 it has signed an agreement to acquire Canada-based pellet producer Pinnacle Renewable Energy Inc. The acquisition will more than double Drax’s pellet production capacity. |
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Massachusetts is the first state in the United States to have a registered apprenticeship program for mechanical production worker training in rail car manufacturing. The Registered Apprenticeship Program for mechanical assemblers at CRRC, with Hampden County Workforce Board as the sponsor, is approved by the state Division of Apprentice Standards and provides career opportunities for unemployed and underemployed residents to work, be paid and be trained to develop professional technical skills resulting in a long-term career pathway in manufacturing. |
International News
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A group of 32 associations representing operators, suppliers and staff across the transport industry have called on European Union (EU) member states to consider the needs of the transport sector during the creation of national recovery and resilience plans. The call comes after the European Parliament endorsed the €672.5bn Recovery and Resilience Facility, the EU’s main instrument to recover from the Covid-19 pandemic, on February 9. |
