STB extends TTX's flat-car pooling authority for 15 years

TTX Co. has received Surface Transportation Board (STB) approval for a 15-year extension of its pooling authority governing all types of flat cars, including those that handle intermodal, finished automobile, lumber and heavy equipment traffic. The new 15-year term began Oct. 1.

The STB listed the many benefits of the pool, including the promotion of equipment research and development, cost control due to standardized repair and maintenance, capital savings through a more efficient use of the cars and increased responsiveness to rail industry changes, TTX officials said in a press release.

The board determined that TTX "has adapted and consistently produced significant benefits" for railroads and shippers that couldn't have been achieved as easily without the company's flat-car pool, they said. The STB noted that over 80 interested parties — including the Department of Defense, shippers, ports, rail-car parts suppliers and car manufacturers — expressed support for extending the pooling authority.

"The board’s decision is an unambiguous affirmation of the value of the flat-car pool to the railroad industry and to the shipping public," said TTX President and Chief Executive Officer Tom Wells.

TTX provides rail cars and related car management services to the North American rail industry, and manages a fleet of nearly 220,000 flat and box cars, and gondolas.