STB chair remains frustrated over Class I railroads’ lack of growth

SCHAUMBURG, Ill. — Approaching the likely end of his tenure as chairman of the Surface Transportation Board, Robert Primus made it clear: The hearing the board held last fall on growth in the rail industry did not ease his concerns about Class I efforts to increase volume.

In a rare address Thursday at the Midwest Association of Rail Shippers Winter Meeting — the same day he issued a statement concerning retaliation by railroads against those who bring matters to the board or participate in its proceedings — Primus expressed abundant frustration over railroads’ continuing loss of market share.

“We are the largest, safest, most cost-efficient and energy-conscious freight rail system in the world,” Primus said, “and yet we struggle to grow, even when growth opportunities exist. For the past year, we have continually lost market share to our chief competitor who has seen better days, while all six Class Is are enjoying a period of strong, if not record profits, and the ability to provide billions in stock buybacks to their respective shareholders. … From 2003 to 2023, freight rail has experienced negative growth among most business segments.” Among the data he cited: Intermodal tonnage hauled by truck was up by 35% between 2003 and 2023, while interm…

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