Latest Transportation and shipping News

Carney proposes operating budget increase of more than 7%

Jan. 26, 2023 11:52 AM EST

DOVER, Del. (AP) — Democratic Gov. John Carney is proposing to boost Delaware’s government operating budget by more than 7% over the current year’s budget, with hundreds of millions of dollars in new spending for state employee pay raises, health care and affordable housing. ...

CSX railroad profit up 9% on higher fuel surcharges, rates

Jan. 25, 2023 19:19 PM EST

OMAHA, Neb. (AP) — CSX hauled in 9% more profit in the fourth quarter as the railroad hauled less cargo but charged higher shipping rates and tacked on more fuel surcharges. The Jacksonville, Florida-based railroad said Wednesday that it earned $1.02 billion, or 49 cents per...

Norfolk Southern profit up 4% but expenses jump higher

Jan. 25, 2023 13:25 PM EST

OMAHA, Neb. (AP) — Norfolk Southern delivered 4% more fourth-quarter profit but higher expenses driven by soaring fuel costs hurt the bottom line even as service improved across the railroad. The Atlanta-based railroad reported fourth-quarter profit of $790 million, or $3.42 per...

Union Pacific 4Q profit slips 4% on weather, hiring problems

Jan. 24, 2023 14:27 PM EST

OMAHA, Neb. (AP) — Union Pacific's fourth-quarter profit slipped 4% as severe winter weather snarled shipments in late December and disrupted the railroad's efforts to eliminate the delayed deliveries and other problems shippers complained about last year. The Omaha, Nebraska-based...

Inspections of Ukrainian grain ships halved since October

Jan. 20, 2023 10:05 AM EST

DAVOS, Switzerland (AP) — Inspections of ships carrying Ukrainian grain and other food exports have slowed to half their peak rate under a U.N.-brokered wartime agreement, creating backlogs in vessels meant to carry supplies to developing nations where people are going hungry, United Nations and...

Lebanon to take out $116m in loans for ailing electric grid

Jan. 18, 2023 08:33 AM EST

BEIRUT (AP) — Lebanon's caretaker government Wednesday approved opening credit lines totaling $116 million to help fix its crippled state electricity grid. The cash-strapped country for over two years has struggled with rampant power cuts that have crippled much of public life,...

Report: Oil price cap takes small slice of Russia's revenue

Jan. 11, 2023 10:22 AM EST

FRANKFURT, Germany (AP) — A price cap and European Union embargo on most Russian oil have cut into Moscow's revenue from fossil fuels, but the Kremlin is still earning substantial cash to fund its action in Ukraine because the $60-per-barrel cap was “too lenient," researchers said Wednesday. ...

Navajo company sues BNSF Railway over coal transportation

Dec. 20, 2022 17:21 PM EST

FLAGSTAFF, Ariz. (AP) — One of the largest coal producers in the United States has sued a major freight railroad, alleging it breached a contract to transport coal from Montana for use overseas. The Navajo Transitional Energy Co. alleges that major shortcomings in BNSF Railway...

Union Pacific railroad puts its shipping limits on hold

Dec. 18, 2022 13:46 PM EST

OMAHA, Neb. (AP) — Union Pacific says it will stop imposing temporary limits on certain businesses' shipments while it reviews the policy that federal regulators and shippers criticized at a hearing last week. Union Pacific has put more than 1,000 of these embargoes in place this...

California lowers incentives for rooftop solar panels

Dec. 15, 2022 21:52 PM EST

SACRAMENTO, Calif. (AP) — California utility regulators on Thursday approved major changes to the state's booming rooftop solar market that they say will more evenly spread the cost of energy and help reduce the state's reliance on fossil fuels in the evening. The state has long...