In a move that will certainly impact freight rail customers in North America, Canadian Pacific and Kansas City Southern announced on March 21st they would merge to create “the First U.S.-Mexico-Canada Rail Network”, following STB approval of the transaction. According to their press release:
“The combined network’s new single-line offerings will deliver dramatically expanded market reach for customers served by CP and KCS, provide new competitive transportation service options, and support North American economic growth. The transaction is also expected to create jobs across the combined network. Additionally, efficiency and service improvements are expected to achieve meaningful environmental benefits.”
It is nice to see the industry investing in freight rail capacity and network connections.
Following last week’s report, AAR again reports an increase year-over-year in carloads for the week ending March 13. The reported increase was 2.1% for the week. And, as has been consistent in the past year, intermodal traffic was up significantly year-over-year.
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