Freight

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.

American Chemistry Council Concerned About UP+NS

WASHINGTON, D.C. –– As expected, shipper concern about the announcement of the proposed UP+NS merger this morning has already begun. The American Chemistry Council (ACC) released a statement this afternoon.