New Brightline details included in $950 million bond sale

Front of a black, white, and yello train

MIAMI — Although a planned private activity bond sale to help finance Brightline’s proposed Southern California-Las Vegas, Nev., route has been delayed, long-term investors weren’t deterred from snapping up $950 million in the company’s Florida bond offering just before Christmas. The bond sale for the western project — and the project itself — have been […]

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Transportation Secretary Elaine Chao resigns

Elai Chao

WASHINGTON — U.S. Transportation Secretary Elaine Chao has resigned, effective Monday, Jan. 11, in the wake of Wednesday’s storming of the U.S. Capitol, which she calls “a traumatic and entirely avoidable event” in a letter addressed to Department of Transportation colleagues. “It has deeply troubled me in a way that I simply cannot set aside.” […]

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Buoyed by intermodal, railroads see traffic rise in December

Statistics table of US rail traffic

WASHINGTON — Thanks to continued intermodal strength, overall U.S. Class I rail traffic in December increased by 4.4% over December 2019, with a total of 2,435,819 carloads and intermodal units, according to statistics released by the Association of American Railroads. The 1,101,324 carloads in the month represented a decrease of 3.7%, while the 1,334,495 containers […]

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Digest: UP train derails in Oregon

Derailed train site

Still more Wednesday morning rail news: Fifteen cars of UP train derail in Oregon Fifteen cars of a Union Pacific train derailed early Wednesday in Clackamas County, Ore., leading to a brief closure of State Route 99, KGW-TV reports. The Clackamas County Sheriff reports no hazardous materials were involved in the incident about 15 miles […]

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Digest: MBTA plans one-week furloughs for executives, union members

MBTA logo

More Wednesday morning rail news: MBTA plans one-week furloughs for executives, union members to help address budget shortfall The Massachusetts Bay Transportation Authority is planning one-week furloughs for some executives and union members as part of its effort to address the budget shortfall created by the COVID-19 pandemic. The Boston Herald reports that MBTA General […]

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Digest: Refrigerator car firm Cryo-Trans purchased by cold-storage specialist Lineage

Side view of a train car

Wednesday morning rail news: 

Lineage buys refrigerator car firm Cyro-Trans in $500 million deal
 Cold-storage specialist Lineage Logistics announced it is purchasing Cryo-Trans, which has more than 2,200 refrigerated and insulated railcars, North America’s largest privately owned fleet, and manages more than 40,000 annual rail shipments. Lineage, a real estate investment trust based in Novi., […]

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Squires expects Norfolk Southern to rebound from tough year

James Squires

ATLANTA — The pandemic hurt railroad traffic across the board, but none more than Norfolk Southern. NS volume for 2020 was down nearly 12%, which was twice as much as Eastern rival CSX Transportation and considerably deeper than the industry average of a 7% decline [see “Canadian Pacific leads industry volume for second straight year,” Trains News Wire, […]

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Digest: STB ruling supports transportation aspect of Uinta Basin project

Surface Transportation Board logo

Tuesday afternoon rail news: STB says transportation aspects of Uinta Basin rail line meet requirements for exemption The transportation aspects of Utah’s Uinta Basin Railway meet the statutory requirement for an exemption allowing construction and operation of the approximately 85-mile line, the Surface Transportation Board has ruled. The ruling, decided Monday and issued today, does […]

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