• CSX to acquire Pan Am Railways

  • Guilford Rail System changed its name to Pan Am Railways in 2006. Discussion relating to the current operations of the Boston & Maine, the Maine Central, and the Springfield Terminal railroads (as well as the Delaware & Hudson while it was under Guilford control until 1988). Official site can be found here: PANAMRAILWAYS.COM.
Guilford Rail System changed its name to Pan Am Railways in 2006. Discussion relating to the current operations of the Boston & Maine, the Maine Central, and the Springfield Terminal railroads (as well as the Delaware & Hudson while it was under Guilford control until 1988). Official site can be found here: PANAMRAILWAYS.COM.

Moderator: MEC407

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  by newpylong
 
Sweet picture of some sand dumped on the Lowell Hill lol.
  by NHV 669
 
My favorite is the grant for Rockguy (Lynch Materials) and the customer gain for NEGS/PAR via a thread started on these boards.
  by newpylong
 
Back to the subject of a sale. My contacts believe CSXT is still the winner take all and that announcement could be as soon as tomorrow.
  by bostontrainguy
 
I sure hope so. This wait has been excruciating. But I guess if true, this outcome is better than anything any of us could have imagined. Seems more like an April Fools' Day posting :smile:
Last edited by MEC407 on Tue Nov 24, 2020 7:31 am, edited 1 time in total. Reason: UNNECESSARY QUOTING
  by newpylong
 
Yeah, lll believe it when a see it.
  by Gilbert B Norman
 
While by no means am I suggesting that sources such as TRAINS or Railway Age are less than credible, both still represent segmented media.

I would think this transaction would be sufficiently newsworthy for general circulation financial media i.e. Times, Journal, Bloomberg, Footsie, to report.

Still have my $2 ticket on Topper; if NS gets the PAS, which with Surfboard's "competitive rail" philosophy would appear likely, will it still pay as a SHOW?
  by MEC407
 
bostontrainguy wrote: Mon Nov 23, 2020 10:04 pm But I guess if true, this outcome is better than anything any of us could have imagined.
Given their safety record relative to the other Class I railroads, CSX would not have been my first, second, or third choice. Alas, I'm not a member of the Pan Am board and I don't get a vote.
  by Cosakita18
 
Make the announcement right before the Thanksgiving weekend and hope that the suits at NS forget about it by start of business Monday. Smart :P
  by F74265A
 
Until a deal is closed there is no deal. See spsf; cn purchase of massena line.
An announcement- which I have not seen yet- is but first step. Need announcement, stb approval and conditions met, business terms closing conditions met, and buyer forking over the $ to complete the transaction. There’s no deal til all of that occurs.
  by pumpers
 
A bit off topic, but whatever did happen with CN (BLE) and the Massena line? It was still in limbo back in the summer, IIRC.
Jim S
  by johnpbarlow
 
I believe the CN acquisition of CSX Montreal Secondary is kaput as neither party wanted to capitulate to the STB's future competitiveness condition for its approval. I believe CN and CSX have enacted an intermodal partnership between Montreal and the ports of New Jersey/Philadelphia, though
  by MEC407
 
To clarify, I was referring specifically to fuel train and hazmat disasters: over the past 20 years, CSX had 4, NS had 2, UP had 1, CP had 1, and MMA had 1. Or to put it another way, CSX had as many as NS, UP, and CP combined.
MEC407 wrote: Mon Dec 23, 2019 10:35 am
bsweep wrote: Mon Dec 23, 2019 9:49 am ...and avoid much of the political morass that would follow if it were handled by a short-line no matter how good a safety record they had.
Other than Lac Megantic, every fuel train disaster or hazmat train disaster in the United States or Canada over the last 20 years has happened on a Class I railroad:

https://en.wikipedia.org/wiki/2016_Unio ... train_fire

https://en.wikipedia.org/wiki/2015_Moun ... derailment

https://en.wikipedia.org/wiki/2015_Tenn ... derailment

https://en.wikipedia.org/wiki/Brooks_derailment

https://en.wikipedia.org/wiki/Graniteville_train_crash

https://en.wikipedia.org/wiki/Minot_train_derailment

https://en.wikipedia.org/wiki/2002_Farragut_derailment

https://en.wikipedia.org/wiki/Howard_Street_Tunnel_fire

People are fooling themselves if they think disasters only strike shortlines.

(For anyone keeping score, the winner is CSX with 4, followed by NS with 2, UP with 1, and CP with 1.)
  by bsweep
 
I have been contemplating CSX north of Bangor. CP has canceled the haulage agreement and Pan Am is putting on a bandaid so they can start the Keag interchange with EMRY again. Long term CSX obviously wants Saint John access and CSX and CN have already started cooperating in some intermodal lanes. It is possible CSX-CN might be able to cooperate from Halifax via Saint John (think Yankee Clipper with even further reach into the Southeast and Midwest). I also wonder what the reaction in Calgary is to CSX into Saint John. As to loads into Saint John CSX and CP really would only compete for intermodal traffic to/from Detroit, Buffalo and Chicago? Will they be concerned?
  by bostontrainguy
 
NHV 669 wrote: Fri Nov 20, 2020 11:51 am My favorite is the grant for Rockguy (Lynch Materials) and the customer gain for NEGS/PAR via a thread started on these boards.
That's the biggest project at $2,380,952. $500,00 is the grant part which looks like the max offered. I wonder how big this siding is going to be.
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