Class 1

CSX ‘Elevates Freight Efficiency’ With CSX Howard Street Tunnel Bridge Project

CSX’s Howard Street Tunnel Project “is a pivotal step in enhancing freight transportation along the I-95 corridor,” the Class I reported Aug. 7. The comprehensive initiative includes upgrades to the historic Howard Street Tunnel in Baltimore, as well as three additional construction projects spanning from Baltimore to Philadelphia, “paving the way for double-stack trains to move seamlessly across the corridor, benefiting customers, the Port of Baltimore, and the state of Maryland.”

Vena’s Art of the Deal With NS – Commentary

OMAHA and ATLANTA –– Union Pacific’s (UP) much-anticipated bid for Norfolk Southern (NS) was announced July 29. Both now embark on a lengthy review process, but we see the potential approval pathway justified due to U.S. supply chain benefits. NS operates well, supporting a pivot in focus to the review process. NS takeout PT moves to $320 in line with the announcement. Reiterate Buy as entry point is attractive while event-based investors remain on the sidelines.

Union Pacific + Norfolk Southern: It’s Official

OMAHA and ATLANTA –– The speculation is over: Union Pacific and Norfolk Southern at 7:00 AM EDT announced their agreement to, in a combined cash and stock transaction valued at more than $250 billion, merge and create the first U.S. transcontinental railroad. Union Pacific is the acquiring company; the Norfolk Southern name and iconic “Thoroughbred” prancing horse logo on a black locomotive carbody will fade into history as another fallen flag—just like all prior UP acquisitions (Missouri Pacific, Western Pacific, Missouri–Kansas–Texas, Chicago, Rock Island & Pacific, Chicago & North Western, Southern Pacific).

Next-Level Safety and Efficiency

RAILWAY AGE, JULY 2025 ISSUE: Automated train inspection portals are turning “finders into fixers,” reducing risk exposure, mechanical-caused safety incidents and network disruptions.