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Despite Surface Transportation Board’s Nov. 6 ruling that Norfolk Southern Railway’s rates on certain coal movements for Duke Energy are not unreasonable, the Class I still is unable to determine the impact of the decision on its earnings.
Because of NS’ rate increase amounts, STB ruled it would determine if the railroad should phase in rate increases over time. The ultimate outcome of the ruling could have a significant effect on the results of operations, said NS officials in a prepared statement.
In the meantime, NS plans to monitor the case and the financial impact the case could have. The Class I will continue to bill and collect rates based on the challenged tariff rates consistent with past practice.
11/11/2003
Rail News: Rail Industry Trends
NS unable to determine impact STB's ruling will have on earnings
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Despite Surface Transportation Board’s Nov. 6 ruling that Norfolk Southern Railway’s rates on certain coal movements for Duke Energy are not unreasonable, the Class I still is unable to determine the impact of the decision on its earnings.
Because of NS’ rate increase amounts, STB ruled it would determine if the railroad should phase in rate increases over time. The ultimate outcome of the ruling could have a significant effect on the results of operations, said NS officials in a prepared statement.
In the meantime, NS plans to monitor the case and the financial impact the case could have. The Class I will continue to bill and collect rates based on the challenged tariff rates consistent with past practice.
