CSX Acquisition of Pan Am Railways

Gilbert B Norman wrote: ↑Tue Sep 08, 2020 11:57 am I'm still clutching my $2 ticket on "Topper".

Mr. Norman, I didn't see a vendor from whom I could purchase a program for this game. Can you please share with me who "Topper" is?

CN9634 wrote: ↑Tue Sep 08, 2020 9:07 pm

newpylong wrote: ↑Tue Sep 08, 2020 8:05 pm Tea leaves are blowing investment firm with an October/ November announcement . . .

The one led by Fink Jr?

In the immortal words of The Who:

"Meet the new boss, same as the old boss."

[personal commentary: if this is true, it's very disappointing on so many levels...]

Gilbert B Norman wrote: ↑Wed Sep 09, 2020 7:09 am May as well rename Saint John harbor "Irving Cove".

Saint John has always had Tidal issues. In the winter Canadian Pacific's 'White Empresses' would sail between Saint John and Liverpool and those sailings were “according to tide”. CP also ran connecting Boat Trains across Maine to/from Montreal.







Just as the new 'Empress of Canada' arrived in 1961....the CP 'Jet' Empresses were taking over. The Empress of Canada eventually became Carnival's first cruise ship 'Mardi Gras'

For the last time the tidal issue is a non-issue. The new cranes just handled multiple ships for multiple days at berth...

More info here: https://www.craneandhoistcanada.com/por ... rway-1348/

JoeCollege wrote: ↑ Can you please share with me who "Topper" is?

Hint: he's on every NS black/white locomotive, right on the logo.

CN, your position that tides are a non-issue requires a caveat. Recent cellular vessels calling on Saint John are small (1,350 - 3,800 TEU). Even at the planned harbor draft of 9.5M at MLW, the larger the vessel, the bigger the logistical (timing) challenges associated with calling at the port.

Thank you Mr. Cowford for "stepping up".

The article Mr. CN linked shows the tidal range in the Harbor to be 9m, or almost 30ft. That's a lot water moving in or out in six hours. As I recall from my Fairfield Navy Cadet days, the current is swiftest during the third and fourth hour of the flood or ebb.

But all this is apparently "moot" as the Port will remain, for rail transportation, at the mercy of the (States') FRA Class 2 trackage of the Irving roads (and that only until the "equity fund" chops up the MEC) or the circuitous CN.

Finally Mr. Newpy, I pray you know how much I respect the knowledge you bring to this discussion, but in this case I hope the outcome proves different from your report. Somehow, I think you hold same.

Operationally speaking it is a non-issue. Also MSC had 5000 TEU ships in the rotation on the Canada Gulf Bridge service a few times, so really I don't know why this forum seems to have come across a prohibitive issue that massive global shipping companies aren't worried about.

Unless you want to tell me that multiple agencies and private companies have decided its worthwhile to invest millions of dollars into modernizing the port to competitively and efficiently work 12000 TEU ships but seemingly have overlooked the 'tidal issue', I'd say let the money speak for itself.

The one led by Fink Jr?

In the immortal words of The Who:

"Meet the new boss, same as the old boss."

[personal commentary: if this is true, it's very disappointing on so many levels...]

In my work over the years I have met former B&M employees and when then name "Fink" is mentioned I get this look-------

Mr. CN, meet "the one and only" Larry...……………

https://www.blackrock.com/corporate/abo ... larry-fink

Gilbert B Norman wrote: ↑Tue Sep 08, 2020 11:57 am So OK, Timmy doesn't want to pay to dig Hoosac out from its noted 17' to the 21' needed to handle "double stacks" (tri-levels 20'); now wouldn't it be best to have Pan Am come into the hands of someone who will?

I would think that to have a competitive routing with CSX/B&A and to enable the Maine ports, as well as Saint John, to "get in the game", that to me means a road that can handle any piece of railroad equipment out there - just as the B&A can! I cannot foresee any Short Line operator such as G&W making the financial commitment to dig out Hoosac and get at least FRA Class 3 on the ground. So therefore, given the competitive "philosophy" Surf Board holds to (and for all I know, so does Transport Canada), I'm still clutching my $2 ticket on "Topper".

I can not foresee any operator, Class 1 or other, making the financial commitment to clear and speed up PAR/PAS for St John and Maine port traffic. We're talking many $100m's. NS hasn't even stepped up to clear the Hoosac during their PAS tenure and NS and CSX can participate in the traffic by working with CP via other gateways and/or compete via the largest East Coast port. But, GWI's edge over NS would come from a greater motive to make PAR competitive while NS can be content to sit back and play GWI against CP, NY/NJ vs. St John and Halifax, without the big commitment.

FWIW and that may be very little, KCS spurned Global Infrastructure Partners / Blackstone Group's $20B bid and the two entities are reportedly no longer in discussion. So maybe a Pan Am acquisition looks attractive to Global Infrastructure Partners and Blackstone Group now that the KCS deal looks dead?

CN9634 wrote: ↑Tue Sep 08, 2020 9:07 pm

newpylong wrote: ↑Tue Sep 08, 2020 8:05 pm Tea leaves are blowing investment firm with an October/ November announcement, but by no means final.

The one led by Fink Jr?

If that was the case wouldn't they have just sold it?

That is just a rumor - like all of this at this point. Some are stronger than others.

It is believed with confidence that Fortress is one party however.

The railroad is probably going to need a new name and brand no matter what. the PanAm IP may be more valuable than the railroad itself and I highly doubt Mellon would let that go.