Latest news with #railfreight
New York Times
14 hours ago
- Business
- New York Times
Union Pacific to Buy Norfolk Southern in $85 Billion Railroad Deal
Union Pacific, a freight rail giant, announced on Tuesday that it had reached an agreement to acquire Norfolk Southern, another large railroad, in a deal worth $85 billion. The merger would create the United States' first coast-to-coast rail network and span some 50,000 miles across 43 states. But the deal would put around two-fifths of rail freight in the hands of one company, raising fears that it would reduce competition in a crucial industry. Union Pacific, which operates west of the Mississippi River, and Norfolk Southern, whose tracks are mostly east of it, said the combined company would deliver freight faster by eliminating the need to switch railroads and opening new routes.. 'Railroads have been an integral part of building America since the Industrial Revolution, and this transaction is the next step in advancing the industry,' Jim Vena, chief executive of Union Pacific, said in a news release on Tuesday. The new company would be called Union Pacific Transcontinental Railroad. Union Pacific said it was offering a combination of cash and stock for Norfolk Southern. 'It will make the railroads more efficient,' said Tony Hatch, a veteran rail analyst at ABH Consulting. 'And it adds reliability, which is the biggest rail issue.' The combined company would have over 50,000 employees, four-fifths of whom belong to unions. The merger announcement comes two and a half years after a Norfolk Southern train carrying hazardous materials derailed in East Palestine, Ohio, upending life in the town for months. Last year, the company fired of its chief executive for having an affair with its chief legal officer. Want all of The Times? Subscribe.
Yahoo
4 days ago
- Business
- Yahoo
Union Pacific expands domestic intermodal service
Union Pacific has announced a pair of new domestic intermodal lanes, with new service linking the Pacific Northwest with Chicago as well as between Memphis and Dallas. On Saturday, UP (NYSE: UNP) will launch daily service from Tacoma, Wash., to its Global 4 terminal in Joliet, Ill., outside Chicago. 'This service will be complementary and in addition to the current domestic service from TacSim to Global 2. Service into the heart of the southern Chicago warehouse district offers shorter drays and more cost-effective access to a wide range of the metro and seamless drayage to reach markets beyond Chicago,' UP said in a customer advisory. Service has already begun between UP's terminal in Marion, Ark., across the Mississippi River from Memphis, and the railroad's intermodal terminal in Mesquite, Texas, in the Dallas area. 'We've recently initiated service between Memphis, TN (Marion, AR) and Dallas, TX (Mesquite, TX) to offer a solution to convert over-the-road freight to intermodal. This service is also available seven days per week — streamlining your logistics in the South,' UP said. Subscribe to FreightWaves' Rail e-newsletter and get the latest insights on rail freight right in your Pacific posts record financial results Five takeaways from the State of Freight for July: What earnings and the indices are saying about the market Union Pacific and Norfolk Southern confirm advanced merger talks CSX profits fall on lower revenue, higher costs The post Union Pacific expands domestic intermodal service appeared first on FreightWaves.
Yahoo
22-07-2025
- Business
- Yahoo
Report: Goldman Sachs advising BNSF on potential merger
News reports say that BNSF Railway has hired Goldman Sachs to advise it about a potential rail merger. Semafor, an online publication, reported Monday evening that BNSF has engaged Goldman Sachs in the wake of Union Pacific (NYSE: UNP) working with Morgan Stanley regarding a potential merger with Norfolk Southern (NYSE: NSC). Both reports cited people familiar with the matter. The railroads and investment banks declined to comment. The report said it was not clear whether BNSF was interested in CSX (NASDAQ: CSX) or Norfolk Southern. NS is reportedly the target of Union Pacific, and the two railroads have been in merger talks since the first quarter, the Associated Press reported last week. BNSF is a subsidiary of Berkshire Hathaway, controlled by investor Warren Buffett. The publicly-held Class I railroads begin to report second quarter earnings this week. CSX reports July 23, UP on July 24, and NS, July 29. There has not been a big merger involving the major Class I systems since the Surface Transportation Board adopted tighter merger review regulations in 2001. Subscribe to FreightWaves' Rail e-newsletter and get the latest insights on rail freight right in your UP-NS rail merger spotlights individual legacies in a legacy business Union Pacific, Norfolk Southern in merger talks: WSJ Report: Investment firm advising Union Pacific on potential rail merger BNSF, UP settle dispute over Salt Lake City intermodal service The post Report: Goldman Sachs advising BNSF on potential merger appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
21-07-2025
- Business
- Associated Press
Barrington Freight Launches China-UK Rail Freight Service via Europe
Barrington Freight launches rail freight service from China to the UK to help businesses import more cost-effectively, as sea freight charges continue to rise. The service is available to book now. Basildon, England, United Kingdom, July 21, 2025 -- UK international freight forwarder Barrington Freight has launched a new rail freight service from China to the UK via Europe, offering businesses a faster and more cost-effective way to import goods. With sea freight prices continuing to rise and air freight often out of budget, this new service gives UK importers a reliable middle-ground solution with dependable delivery times and competitive pricing. 'Sea freight rates are rising, and air freight just isn't realistic for every business. This new rail option is the missing piece in our China import offering,' said Simon Poole, Operations Director at Barrington Freight. 'We're excited to help even more UK businesses move their goods efficiently, supported by our friendly and knowledgeable team.' Barrington Freight helps UK businesses import goods faster and more affordably with its new rail freight service from China to the UK. The service can also be used by businesses shipping to Europe, with final delivery carried out via their express road freight network, offering reliable groupage and full truck load options across the continent. A Smarter Alternative for Importers The China–UK rail freight service is available for FCL (Full Container Load) and LCL (Less than Container Load) shipments, using 40ft high-cube containers. It is ideal for non-perishable commercial goods that need to arrive faster than sea freight allows, but without the high cost of air freight. Transit time averages 18 to 20 days to Germany, followed by around 7 more days to the UK, making it typically twice as fast as sea freight and much more affordable than air cargo. How It Works Once containers arrive in Europe, they are either sent directly by road to Felixstowe or devanned in Germany and trucked to the UK via the Netherlands. Final delivery is made to commercial addresses across the country, following standard procedures similar to sea freight imports. Designed for Growing Demand This service has been developed in response to key trends in the freight industry. As shipping volumes increase along the New Silk Road, rail freight has become an attractive solution for importers looking for a balance between cost, speed, and reliability. The route serves major logistics hubs across China, Kazakhstan, Poland, and Germany, linking directly into the UK's distribution network. Cost-wise, rail freight now sits comfortably between sea and air. While air freight remains the fastest option, it is often too costly for small to medium-sized shipments. Sea freight has traditionally been the cheapest method, but it is becoming less predictable due to port congestion, container shortages, and changing global conditions. Rates can fluctuate without warning, making budgeting difficult for many importers. Rail freight offers a reliable middle ground, helping UK businesses avoid long delays and uncertain costs without the high price tag of air freight. From an environmental point of view, rail is also the greener option compared to air. Trains produce far fewer carbon emissions, which is important for businesses looking to improve their sustainability credentials. It also helps companies comply with growing ESG and carbon reporting requirements across the supply chain. By offering this new option, Barrington Freight joins a small number of forwarders in the UK able to provide a fully managed rail freight route from China. This strengthens import services and ensures that customers benefit from more choice, faster transit times. For more information about this service or to request a quote, visit the dedicated Rail Freight from China to the UK page. About Barrington Freight Barrington Freight is a UK-based international freight forwarding company that has been helping businesses move goods across Europe and worldwide since 2007. Based in Basildon, Essex, they specialise in fast, reliable and cost-effective shipping solutions. Their services include road freight to and from Europe, and air and sea freight for global shipments. Barrington Freight is a family-run business led by Director Matt Everard. They work with B2B clients and offer a full range of logistics services including pallet delivery, groupage, full truck loads (FTL) and customs clearance through trusted partners. Known for their friendly and hands-on approach, they are committed to saving their clients time, money and stress when it comes to international shipping. Contact Info: Name: Simon Poole Email: Send Email Organization: Barrington Freight Ltd Address: 1st Floor, Bowden House, Luckyn Lane, Basildon, Essex SS14 3AX Website: Release ID: 89165142 Should you detect any errors, issues, or discrepancies with the content contained within this press release, or if you need assistance with a press release takedown, we kindly request that you inform us immediately by contacting [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our expert team will be available to promptly respond and take necessary steps within the next 8 hours to resolve any identified issues or guide you through the removal process. We value the trust placed in us by our readers and remain dedicated to providing accurate and reliable information.
The Guardian
21-07-2025
- Business
- The Guardian
Resurrect HS2 northern leg to boost rail freight capacity, say UK manufacturers
Manufacturers will press ministers today to resurrect plans for a high-speed rail line reaching Leeds and Manchester as part of a large strategic investment to get lorries off Britain's roads and cut emissions. Business lobby group Make UK and Barclays Corporate Bank said research showed companies believe the move would significantly increase passenger numbers and free up capacity for rail freight on existing lines. A survey of 200 manufacturers showed that nine in 10 believe the original high-speed rail line HS2 should still go ahead, while a similar number said there should be greater investment in faster connections between Liverpool, Manchester, Sheffield, Hull and Newcastle. HS2 has suffered huge cost overruns and is being overhauled under new management. The transport minister, Heidi Alexander, said this year that problems with the line would delay its opening beyond 2033. Many of Labour's regional mayors support moves to extend the line to Manchester to boost economic growth across the north of England. However, Keir Starmer, the prime minister, has indicated there is little cash available to extend HS2, even under 'HS2-lite' plans that would have allowed for more capacity north of Birmingham. Verity Davidge, the director of policy at Make UK, said: 'It's clear that the current levels of rail capacity aren't suitable for the levels of freight traffic the government is predicting in the future. 'As a result, if industry is to make greater use of rail then we need the extra capacity which a high-speed link for passenger traffic would free up. 'This would provide a valuable opportunity to invest in multi-mode hubs which would improve connectivity between our major ports and better integrate road and rail routes through the spine of the country.' Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion The survey found that road is overwhelmingly the main mode of transport for nine in 10 manufacturers, with six in 10 regarding road investment as critical for their just-in-time operations. This compares with just under half (46%) for investment in ports and just under four in 10 for rail. Lee Collinson, the head of manufacturing, transport and logistics at Barclays UK Corporate Bank, said: 'Upgrading and integrating our road, rail and port systems is crucial for boosting productivity, decarbonising transport and supporting long-term competitiveness.'
