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10/25/2002



Rail News: Rail Industry Trends

New York Cross Harbor again partners with New York & Atlantic, NS


On Oct. 24, New York Regional Rail Corp. (NYRR) announced that subsidiary New York Cross Harbor Railroad (NYCH) recently obtained a contract to move about 150 carloads of scrap metal in conjunction with New York & Atlantic Railway and Norfolk Southern Railway.


The contract comes two weeks after New York Cross Harbor received a long-term contract to move rice with the short line and Class I.


"All three of us recognize the value of working together in order attract new clients and continue to expand our market share," said NYCH President Wayne Eastman in a prepared statement.


NYRR officials expect to complete the scrap-metal moves within 30 days. However, the railroad might obtain additional contracts if federal tariffs increase the price of foreign steel and U.S. recycled-steel inventories drop, said NYCH General Manager Howard Samelson.


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