US rail operator CSX’s intermodal division may have closed 2018 on the up, but this year has begun with “leaves on the line”.
Its first-quarter earnings statement reveals a 5% dip in revenue ($428m) and volumes, and points the finger of blame at the “rationalisation” of its domestic network.
Chief executive James Foote told investors: “Despite international growth, intermodal declined due to the additional lane rationalisations implemented following peak season.
“Intermodal revenues are …
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Source: The Loadstar