Thursday, January 29, 2015

Train Derailed Challenging Transparency and Cleanup

(PR) - The chemical spill -1/27, 2:20 a.m.- which resulted from a CSX train derailment in Allendale, South Carolina, is the latest in a long string of incidents where hazardous chemicals have ended up in local waterways due to lax industry standards and regulations.

It has been confirmed by CSX that Hydrochloric acid and diesel were the substances spilled. The latest derailment is reminiscent of the Graniteville, South Carolina train crash tragedy in 2005, when  a train collision due to an improperly lined railroad switch, caused the release of toxic chlorine gas, among other chemicals, into the environment.

“The latest spill is a case of history repeating itself in South Carolina,” said Tonya Bonitatibus, Savannah Riverkeeper. “Once again, government is not disclosing vital information to the public and questions are going unanswered. We have yet to receive any information regarding how much was spilled or if they are cleaning it up. These are questions we need immediate answers to.”

Waterkeeper Alliance organizations all over the country have been responding to CSX train derailments over the past five years. Many of the derailments involved chemical spills into nearby waterways.  A McClatchy analysis of federal data from the Pipeline and Hazardous Materials Safety Administration showed that more oil was spilled from rail cars in 2013 than in the prior 40 years combined.

Most recently, Hurricane Creekkeeper John Wathen responded to the Aliceville, Alabama train derailment that resulted in 450,000 gallons of crude oil being released into a nearby wetland and Waterkeeper Alliance and Upper James Riverkeeper Pat Calvert were on the ground for the Bakken Crude Oil train derailment and fire that caused the evacuation of downtown Lynchburg, Virginia, spilling an estimated 50,000 gallons of oil into the James River.

Other incidents that Waterkeeper organizations have responded to include: a coal train derailment en route to Columbia River gorge, spilling coal from 31 cars; a derailment near a trestle on the Jerome Bridge in McKeesport, Pennsylvania where three cars carrying volatile light crude oil dangled over the Youghiogheny River; and a freight train derailment in Paulsboro, New Jersey causing toxic vinyl chloride to be spilled into Mantua Creek.

“What all of this highlights is a very significant, daily threat to our waterways and communities,” said Donna Lisenby, Clean & Safe Energy Campaign Manager at Waterkeeper Alliance. “Through our rapid response program, and our Waterkeeper organizations on the ground across the country, we’ve seen these disasters up close and personal and the lack of industry regulations only ensures that we will be seeing many more in the future. 

These trains run right through towns and cities, and people are completely in the dark about the dangers posed by an accident such as a derailment. It is unacceptable that local governments and the public are not given any meaningful information on the type, quantity, and frequency of hazardous transport on their railroads.”

CSX Corporation Announces Record Fourth-Quarter and Full-Year Results

For 2015, the company expects double-digit earnings per share growth and margin expansion, as it progresses toward a mid-60s operating ratio longer term.

JACKSONVILLE, FLA – January 13, 2015 (PR) – CSX Corporation (NYSE: CSX) today announced record fourth-quarter 2014 net earnings of $491 million, a 15 percent increase from $426 million for the same period last year. The company also generated record fourth-quarter earnings per share of $0.49, up 17 percent from $0.42 per share in 2013. 

“CSX is capturing broad-based market strength, completing strategic infrastructure projects and adding resources to further improve service performance and leverage growth opportunities,” said Michael J. Ward, chairman, president and chief executive officer. “Building on a foundation of strong safety and customer service, we expect to continue growing our intermodal and merchandise businesses faster than the economy, pricing above inflation, and driving efficient asset utilization.”

Fourth-quarter revenue increased 5 percent to $3.2 billion, with strength across merchandise, intermodal and coal. The timely addition of operating resources enhanced service through the fall peak shipping season and supported volume growth. As a result, operating income increased 11 percent to $901 million, and the operating ratio improved 140 basis points to 71.8 percent.

For the full-year, CSX produced new all-time records for revenue of $12.7 billion, operating income of $3.6 billion, net earnings of $1.9 billion and earnings per share of $1.92. At the same time, the operating ratio remained relatively stable at 71.5 percent. 

Looking to 2015, CSX expects continued strong growth across its diverse business mix and is poised for sustainable business expansion. The company continues to expect to generate double-digit growth in earnings per share and margin expansion in 2015, progressing toward a mid-60s operating ratio longer term.

CSX also uses social media channels to communicate information about the company. Although our social media channels are not intended to be the primary method of disclosure for material information, it is possible that certain information we post on social media could be deemed to be material. Therefore, we encourage investors, the media, and others interested in our company to review the information we post on the social media channels listed below. 

-> NOTE: At the time for this post there was no official announcement of the derailed train on the company website or social media sites. always try to have more than one side of every issue or event, if is possible.

No comments:

Post a Comment