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Rail News: M&A

CSXT leases southeastern line to Genesee & Wyoming subsidiary


CSX Transportation remains active as a line lessor. On Friday, the Class I announced it leased a 32-mile segment between Yulee and Fernandina, Fla., and Seals, Ga., to First Coast Railroad (FCRD).

A subsidiary of Genesee & Wyoming Inc.’s Rail Link Inc., FCRD will handle the line’s traffic — which totals about 15,000 carloads of pulp and paper, chemicals and agricultural products annually — and interchange cars with CSXT.

"This portion of our network consists mainly of paper products customers and … the majority of the traffic comes from three customers," said CSXT Vice President of Strategic Planning Les Passa in a prepared statement. "Often, segments of railroad with such specific needs are more efficiently operated by short lines.”

Earlier this year, CSXT leased a West Virginia line to The Watco Cos., an Ohio line to the Columbus & Ohio River Railroad Co., and a Georgia line to Georgia Central Railway L.P.

Headquartered in Jacksonville, Fla., Rail Link operates 10 short lines serving shippers at 28 locations in 11 states.

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More News from 4/11/2005