Plus, FedEx and UPS harness AI in logistics, South America's trade scene challenges Panama Canal's constraints, and Estes navigates a disruptive cyberattack.
While trade activity escalates in South America, influenced by diversified sourcing strategies, the Panama Canal continues to face drought-induced challenges.
Estes grapples with a cyberattack. This comes just weeks after Yellow accepted Estes' $1.3B bid for its terminals.
A Montana Rail Link train derailed, causing a bridge to collapse and sending rail cars into the Yellowstone River. Eight cars were damaged, leaking hazardous materials.
A Montana Rail Link (MRL) train carrying hazardous materials derailed in Columbus, Montana, on Saturday morning, causing a bridge to collapse and several rail cars to fall into the Yellowstone River. Eight tanker cars were damaged, leaking asphalt and molten sulfur near the river. However, local officials stated these substances are 'slow moving' and have not spread far from the incident site.
Multiple agencies are responding and taking necessary precautions, but no immediate threat to Yellowstone County is reported. No injuries occurred, and the cause of the derailment is being investigated. The incident happened while MRL, a Class II regional railroad, is transitioning operations to BNSF Railway, following a buyout approval from the Surface Transportation Board in March.
Source: FreightWaves
The US freight rail infrastructure is mostly owned by private corporations and maintenance and repair are their responsibility, not the government's.https://t.co/7sFUaBVS4h
— Roy Jones (@StreetLevelTech) June 25, 2023
Less-than-truckload carrier, Yellow Corp., has filed a $137 million lawsuit against the Teamsters union amid a severe financial crisis.
Cohesive surge in U.S. rail freight investments, infrastructural upgrades with a $1.4 billion grant, and stable rate expectations for 2024 highlight robust industry growth.
CPKC, CSX, and G&W are developing a new direct interchange in Alabama, aimed at creating a vibrant freight corridor connecting Mexico, Texas, and the U.S. Southeast.
A Panama Canal alternative: CPKC Railroad's innovative route through Mexico to reach key US hubs.
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