The February derailment of a Norfolk Southern train in East Palestine, Ohio, was described as a “PR nightmare” for the rail industry.
Railroad earnings season kicks off this week with Union Pacific Corp. and CSX Corp. reporting their results on Thursday, ahead of Norfolk Southern Corp. and Canadian Pacific Kansas City Ltd. next week.
Paid-sick-leave agreements with rail unions are also grabbing plenty of attention after the issue pushed the industry to the brink of a strike last year. Earlier this week, CSX CSX announced a paid-sick-time deal with two of its 12 unions, according to the Associated Press. “For CSX, the bar is likely higher, and we see the EPS bogey at 43c or better, supported by better service, mix and strong export coal yields,” wrote Citi’s Wetherbee.
Demurrage is a charge that compensates rail carriers for expense incurred when rail cars are detained beyond a specified period of time for loading and unloading, according to the Surface Transportation Board. It also serves as a penalty for undue car detention. Accessorial charges include charges for diverting a shipment in transit and releasing a railcar with incomplete or incorrect shipping instructions.
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What Norfolk Southern's CEO Said to the Ohio Senate Rail Committee This WeekHe expressed commitment to East Palestine, federal advancements in rail safety
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