Some Railroads to Raise Rates
Several U.S. railroads are raising rates in an effort to recoup higher labor and fuel costs, Bloomberg News reported.
Burlington Northern Santa Fe Corp. plans to raise rates between 2% and 4% for all types of freight, though contracts with some customers will limit the effect, company officials said.
Union Pacific declined to say how much its rates will rise or for what types of freight. Company executives raised the prospect of increases and other steps to boost profit, but did not provide specifics at a Jan. 20 meeting with investment analysts, said spokesman John Bromley.
The action reverses a trend of declining rail charges and could help efforts by intermodal drayage companies to raise rates or implement fuel surcharges.
 |  |
n Jan. 1, Norfolk Southern started charging 2% to 4% more to shippers of scrap metal, lumber and paper, according to the company based in Norfolk, Va.
For the full story, see the Feb. 14 print edition of Transport Topics. Subscribe today.
