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5/29/2002
Rail News: Rail Industry Trends
TTX to reduce rates, introduce incentive pricing on doublestack cars
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TTX Co. May 22 announced plans to introduce June 1 a pricing option for doublestack equipment, under which participating railroads can daily use TTX doublestack cars free of charge if they exceed a certain threshold percentage of those cars in service.
"This, in turn, achieves what TTX was chartered to be — the railroad industry's lowest cost provider of pooled equipment," said TTX President and Chief Executive Officer Andrew Reardon in a prepared statement, adding that the company is seeking new ways to help railroads more deeply penetrate the intermodal market.
TTX, which is owned by North America's nine largest railroads and controls a free-running pool of 127,000 cars, also plans July 1 to reduce rates on a portion of its fleet, which would reduce the company's revenues by 2.75 percent.
"This, in turn, achieves what TTX was chartered to be — the railroad industry's lowest cost provider of pooled equipment," said TTX President and Chief Executive Officer Andrew Reardon in a prepared statement, adding that the company is seeking new ways to help railroads more deeply penetrate the intermodal market.
TTX, which is owned by North America's nine largest railroads and controls a free-running pool of 127,000 cars, also plans July 1 to reduce rates on a portion of its fleet, which would reduce the company's revenues by 2.75 percent.
