The Canadian Pacific Railway Limited (CP) and the Kansas City Southern (KCS) announced on Sunday, March 21, 2021 that they have entered into a merger agreement under which CP has agreed to acquire KCS in a stock and cash transaction representing an enterprise value of approximately USD $29 billion, which includes the assumption of $3.8 billion of outstanding KCS debt.
Citing progress in negotiations with both the provincial and federal governments, the Genesee & Wyoming Canada (GWCI) railroad, the parent company of the Huron Central Railway (HCRY), announced on Friday (12/11) that they were extending their drop-service deadline on the HCRY from 12-18-2020 to 6-30-2021.
While still working with and waiting on Ottawa and Queen’s Park to put together a $40 million package for track maintenance and safety upgrades to the 288-kilometer line, which would avert a system wide shutdown, the Huron Central Railway has issued a notice to all 43 employees that their positions will be terminated at the end of December should the railway cease operation.
US retailers are stocking up for what they hope will be an outstanding holiday season. This despite the ongoing COVID-19 pandemic and unemployment numbers continue to edge higher. And, as of yet, no additional economic stimulus or increased unemployment benefits coming from Congress.
The Logistics Manager’s Index (LMI) for September reveals that transportation capacity are at all time low levels. The LMI, a survey of leading logistics executives, showed capacity fell to new lows in September, dipping another 770 basis points during the month to a reading of 23.8%.
According to the recently released Logistics Managers’ Index (LMI), which is a survey of leading logistics executives, transportation capacity declined to a 22-month low in July.
With winds in excess of 120 MPH, Hurricane Laura made landfall last Thursday morning (8/27) and left a path of destruction in her wake.
According to the DAT Network, nationally demand for trucks, flatbeds, vans and refrigerated units was up for the third straight month in a row, up almost 25% in certain shipping lanes and more than double the number for July 2019.
Typically, spot truckload freight rates decline in late July. However, this year has been anything, but typical and spot truckload rates have increased for the second week in a row according to DAT Solutions, which operates the DAT One Load Board Network.
According to the Association of American Railroads (AAR), North American rail volume for the week ending Saturday April 4th, were […]