The UP is one of four business units of the holding company Union Pacific Corporation. The combined company has a total network of 52,800km-long route (around 33,000 miles), and is the second largest rail carrier in the United States, behind CSX Transportation. The BNSF was formed in 1994, following the takeover by Fort Worth, Texas-based Burlington Northern, of the Atchison and Topeka and Santa Fe Railway Company. The region is served by two major rail operators, Burlington Northern Santa Fe (BNSF), and Union Pacific (UP). Booming trade with Pacific Rim nations saw trade in the two ports reach 100 million tonnes per year and forecasts show that growth is set to treble in the next 20 years, with the volume of high-value containerised freight.Ībout one-quarter of all products arriving in the US moves through the ports of Long Beach and Los Angeles, and both remain within the top 20 busiest container ports in the world. It followed a decade of spectacular growth which has made the ports of Los Angeles and Long Beach the busiest in America. The report also stated that Wallace said during the conference that his predecessors had held onto unnecessary assets for far too long.Severe congestion on rail routes on the west coast of America resulted in a $2.4bn investment in the Alameda Corridor to provide a suitable route for heavy trains from the ports of Los Angeles and Long Beach, in California’s San Pedro Bay. And it noted that CSX Chief Administrative Officer Mark Wallace said during the railroad's investor day that the company expected to net $300 million dollars from selling surplus real estate and $500 million from selling rail lines over the next three years. “Providing excellent service remains a priority for CSX, and no short-term impacts on customers are expected as a result of this effort,” the company said.Ī report in the Jacksonville Business Journal explained that CSX is in the process of shedding various assets. “We believe these efforts will identify a robust pipeline of opportunities that will deliver material value to CSX over the next several years.”ĬSX added that the company is committed to ensuring that local operators create continuity of service for customers as it seeks buyers with an interest in cultivating and growing traffic on these lines. Foote, CSX president and chief executive officer, in a statement. “CSX is reviewing every aspect of the company’s network to be sure that each asset is maximized for efficiency and adds value to our company’s long-term business needs,” said James M. Marietta Subdivision: Branch line extending north out of Parkersburg, WVĮarlier this year, CSX put forth two rail segments for a potential transaction: the Decatur and Danville Secondary Subdivisions in western Illinois and the Tallahassee and PA Subdivisions in the Florida Panhandle, a company spokesman told LM.
Eastern North Carolina: Branch lines terminating in Grangers and Plymouth, NC and.Cumberland Valley: Feeder lines extending east of Corbin, KY.West Albany and Rensselaer, NY: Collection of properties near Albany, NY.Baldwinsville Subdivision: Branch line west of Syracuse, NY.Massena Line: Line extending north from Syracuse, NY to Canada.These six rail segments, which comprise roughly 650 miles, are considered “non-core properties” by CSX, with CSX saying its decision to solicit them was based on a detailed evaluation of each line and its potential to be operated more effectively by a highly qualified, third party.ĬSX said it is soliciting bids for the following properties: Jacksonville, Fla.-based Class I railroad carrier CSX said yesterday that it is soliciting bids on six rail segments, which it said is a component of an effort to drive asset utilization, enhance network efficiency and create long-term value.
0 kommentar(er)
