CSX Plans $272 Million Intermodal Rail Terminal in NC
Florida-based transportation giant CSX Corp. is planning a $272 million intermodal rail terminal in North Carolina serving the Raleigh region that it envisions as a major transportation hub to make the state’s ports more competitive. The major freight rail infrastructure project in the Triangle project will spur economic development and help position the region as a major transportation logistics hub, says the company. Wilmington could reap significant benefits if the intermodal freight rail hub is built in Johnston County, state transportation officials said Thursday. The railroad operator is committed to spending $150 million for the project, which will be located in Johnston County and depends on receiving $100 million state transportation funds.
Brookfield Acquires Australian Port and Railroad Operator for $8.6-billion
A group lead by Brookfield Infrastructure Partners, a global asset manager, had reached an agreement to buy the Australian port and railroad operator Asciano for about $8.8 billion in cash and stock, and that it was shopping for ports farther afield in a push to expand, reports NY Times. Brookfield says the acquisition of Patrick terminal will lay the foundation for a global container terminal presence, building on its facilities at Teesport, U.K., and the Port of Los Angeles. The company also hopes to leverage Patrick’s experience with automating port operations.
US Trucks Revved Up, Capacity Crisis Revealed
As a polar vortex snarled North America's railroads and upended freight flows this winter, everyone from agricultural giant Cargill to Dow Chemical rushed to secure the next-best form of hauling goods: trucks. In what trucking executives described as an unprecedented bidding frenzy, spot market rates surged by as much as 20 percent to record highs in the first three months of 2014 as shippers sought to minimize sometimes weeks-long delays in rail service. "We've received letters from CEOs from major chemical companies asking us if we can do more," said Bill Marchbank, vice president of operations at Houston-based Trimac Transportation, a leading bulk shipper of liquid chemicals and industrial minerals.
Horizon Lines Names Raymond As Chairman
Horizon Lines Inc., a container shipping and integrated logistic company, on Friday said its board of directors voted to appoint current President and Chief Executive Charles "Chuck" G. Raymond as the company's first chairman. Raymond will retain his current responsibilities. Raymond has served as president, CEO and as a director of Horizon Lines Inc. since July 2004, and of Horizon Lines LLC since February 2003. Before joining Horizon Lines, Raymond served as an executive officer at railroad operator CSX Corp.
