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Rail News: Rail Industry Trends

Steelmaker seeks STB approval to shuffle short lines

International Steel Group Inc. (ISG) plans to fold three short lines — which the steelmaker acquired April 12 as part of its purchase of bankrupt LTV Steel Co. Inc. — into two new short-line operators.
ISG would form ISG South Chicago & Indiana Harbor Railway Co. to acquire and operate 27-mile Chicago Short Line Railway Co. and its 23 miles of trackage rights; and ISG Cleveland Works Railway Co. (CWRO), to acquire and operate 19-mile The Cuyahoga Valley Railway Co. (CVRC) and 30-mile The River Terminal Railway Co. (RTRC).
Surface Transportation Board is considering ISG's acquisition and operation exemption filings, and might issue decisions shortly.
However, United Transportation Union May 3 filed a petition to revoke ISO's exemption pertaining to CVRC and RTRC, citing a lack of jurisdiction and that CWRO did not comply with a 60-day notice requirement, and simultaneously petitioned for a stay of STB's May 7 exemption-effective date.
In light of the issues UTU raised, STB May 6 postponed the effective date, emphasizing that it will be a brief postponement "for housekeeping purposes only," in order to consider UTU's arguments.

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More News from 5/7/2002