Mexual Encounter

Railroad Weekly July 3, 2023

Photography by Frederick Manfred Simon © www.steelwheels.photography

Inside This Issue  

·   Mexual Encounter: CPKC Hooks Up with CSX; Offers New U.S.-Mexico Speedway

·   Happy and Crappy: 2023’s First Half Filled with Good News and Bad

·   Shrinking Problem: Defying Oath of Growth, 1H Rail Volumes Decline

·   Opportunity Knocks: Keith Creel and His Train Trust Detail New Biz Prospects

·   The Top Opp: CPKC Singles Out Autos as Its Leading Opportunity

·   Yes Vote: UP’s Engineers Ratify Changes to Work Schedules

·   Fluidity Up, Traffic Down: Yet Railcar Market Still Strong, Says Greenbrier

·   Harrison History: A Look Back at Hunter Harrison’s Reign at CP

Track Talk

“I’m optimistic that five years from now, when we look back on this transaction with KCS, it will be a very significant achievement to buy at the price we did.”

-CPKC Chief Financial Officer Nadeem Velani

First-Half Review

·   The first half of 2023 is now history, some of it preferably forgotten, other parts cherished. For railroads, the half was two-faced, characterized by trends both highly favorable and disturbingly adverse. Bulk traffic held strong and auto traffic grew. Industrial construction boomed, lifting demand for building materials. Staffing shortages eased and operational fluidity improved. Labor tensions cooled (somewhat) from the boil they reached late last year, de-escalated by new deals on sick pay and positive vibes from newly-appointed CEOs.      

·   On the other hand, chemical traffic slumped and intermodal traffic plummeted.