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9/18/2002



Rail News: Rail Industry Trends

New Florida short line seeks STB blessing to operate Apalachicola Northern Railroad's line


Soon-to-be Rail Management Corp. subsidiary AN Railway L.L.C. recently filed a notice of exemption with Surface Transportation Board to lease and operate 96 track miles between Port St. Joe and Chattahoochee, Fla., owned by St. Joe Co. and operated by its subsidiary, Apalachicola Northern Railroad Co. (ANRR).


AN Railway plans to operate two round-trip trains weekly between Port St. Joe and Chattahoochee (as well as provide extra trains and switching services as needed) to serve Port St. Joe transloading facilities. The short line would interchange traffic with CSX Transportation at Chattachochee.


Rail Management Corp. in late August agreed to purchase from St. Joe. Co. ANRR's six locomotives, 148 rail cars, various vehicles, and communication and rail-maintenance equipment and supplies (substantially all of ANRR's equipment and rolling stock).


The holding company, which owns and operates 13 short lines, also agreed to lease and operate the 96-mile line. St. Joe Co. would retain right-of-way ownership.


Meanwhile, Rail Management Corp. recently filed an exemption with STB to remain in control of AN Railway upon its becoming a Class III through the St. Joe Co. transactions.


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