Russian Railways sells Freight One to Independent Transport Co

On October 28, Moscow hosted an auction to sell 75% minus two shares in Freight One, a subsidiary of Russian Railways. The block of shares of Freight One that was put up for auction sold for over 125,500 million rubles,...

CN’s net income rises to $659 million

CN has reported its financial and operating results for the third quarter and nine-month period that ended Sept. 30, 2011. Net income increased 19% from the year-earlier quarter to C$659 million, with diluted earnings per share (EPS) rising 23 per...

Lafarge wins Network Rail ballast contract

Granite from Lafarge will be keeping the country’s railways on the right track for the next five years, after the company secured a prestigious multi-million pound contract. Network Rail, which owns and operates most of Britain’s rail infrastructure, has awarded...

QR National announces rail haulage

QR National has signed a new coal-haulage contract with Aquila Resources to the new Wiggins Island Coal Terminal. The 10-year contract will see up to 1.6 million tonnes per annum (mtpa) hauled from Aquila’s Washpool mine in Central Queensland to...

QR National expands contract tonnages with Peabody Energy in Hunter Valley

QR National has expanded contract tonnages in its long-term coal haulage agreement with Peabody Energy Australia Coal in NSW’s Hunter Valley. Under the revised agreement QR National will haul up to 14 million tonnes of coal per annum (mtpa) –...

CSX launches iPhone app

CSX has announced the release of a new iPhone application, ShipCSX. The application allows CSX customers to track freight shipments and trains across the CSX network. It also provides customers with specifications of rail cars such as equipment dimensions and weights. The...

Nundah Bank rail upgrade a major boost for Hunter Valley coal corridor

Australian Rail Track Corporation (ARTC) has commenced work on a major rail upgrade project between Singleton and Muswellbrook on the Hunter Valley rail network which will foster increased capacity and reliability. The $59 million Nundah Bank Third Track project will...

Wabtec reports ‘record quarterly sales & earnings’

Wabtec Corporation has reported 'record quarterly sales and earnings', and increased its full-year guidance. The company also declared a regular quarterly dividend of 3 cents per share, payable on Nov. 30, 2011 to holders of record on Nov. 16, 2011. Third quarter highlights...

World Bank approves $975m loan for Eastern Freight Corridor

The World Bank has signed a loan agreement of $975 million with the Indian Government and Dedicated Freight Corridor Corporation of India Limited (DFCCIL) for the development of Eastern Dedicated Freight Corridor (EDFC) Project- I. The EDFC-I is a freight-only rail...

Rail freight is ‘crucial to a resilient Scottish economy’

The Scottish Parliament has been urged to recognise the 'strategic economic benefits of investing in rail freight'. The Rail Freight Group (RFG) has written to the Infrastructure & Capital Investment Committee (ICC) of the Parliament, urging it to press the...

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ORR review leads to 50% reduction in maximum fees for ticket refunds

New rules will mean that from 2 April the maximum fee that train operators and ticket retailers can charge...