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With smart regulations, freight railroads are innovating new technologies, investing in new equipment and pioneering new ways of efficiently running operations to help mitigate the effects of climate change.
Freight rail’s customer-first approach, operational expertise and past investments helped the auto industry rev back to life as auto plants came back online after being shuttered due to the coronavirus pandemic. “Because of the reopening of automotive plants, North American rail carloads of autos and auto parts rose from around 2,700 per week in April and early May to more than 21,000 per week by the end of June and more than 25,000 per week by August,” said John Gray, AAR’s Policy and Economics Chief.
The Security and Emergency Response Training Center (SERTC) launches an online training program to ensure the nation’s first responders have uninterrupted access to critical hazmat response training despite the ongoing challenges of COVID-19.
Differential pricing — charging relatively higher rates to customers who have fewer competitive options than to customers with more competitive options — is the most economically efficient way for railroads to cover their costs.
The Staggers Act of 1980 led the way to today’s economic regulatory framework, which has allowed private railroads to make the investments needed to remain the world’s safest and most efficient freight rail system.
Working together with their employees, suppliers and customers — as well as federal, state and local officials — railroads’ holistic approach to rail safety focuses on infrastructure and equipment investment; training and operational improvement; technology; and community preparedness.
The COVID-19 pandemic continues to evolve and so do freight railroads as they adapt their operations to keep traffic moving and meet customer needs. What is the state of the industry now? Find out from AAR CEO Ian Jefferies’ recent discussion with Eno Transportation.