New federal rule may help boost competition for railroad shipments at companies with few options

The American Chemistry Council trade group that has been one of the leading advocates for the rules expressed some disappointment that the Surface Transportation Board moved away from an earlier proposal that would have been more proactive. It, however, welcomed regulators establishing some clear minimum service standards for railroads that never existed before and requiring railroads to report more details about their performance.

STB Chairman Martin Oberman said it's clear to him that increasing competition in this monolithic industry could do wonders for the countless companies thatto deliver raw materials and finished products by giving railroads another incentive to improve service.

Rob Benedict with the American Fuel and Petrochemical Manufacturers trade group said it's a little disappointing that the rule would force companies to wait until service is bad to seek relief. But maybe the service standards in this rule will provide an incentive for railroads to do what they should have been doing all along: taking care of their customers, he said.

The National Grain and Feed Association said this rule may finally “create some semblance of rail-to-rail competition” that will benefit all the shippers out there who have little bargaining power now because they are only on one railroad. The head of the Association of American Railroads trade group Ian Jefferies said the railroads are studying the new rule to determine how big of an impact it might have on their operations. He said regulators should do a detailed cost-benefit analysis on this proposed rule to make sure it is effective.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

New federal rule may help boost competition for railroad shipments at companies with few optionsRailroad shippers with plants that are only served by one railroad may soon be able to get a bid from another railroad if their current service is bad enough under a new rule that was proposed Thursday to help boost competition.
Sumber: AP - 🏆 728. / 51 Baca lebih lajut »

New federal rule may help boost competition for railroad shipments at companies with few optionsCompanies with plants and factories that are only served by one railroad may soon be able to get a bid from another railroad if their current service is bad enough.
Sumber: ksatnews - 🏆 442. / 53 Baca lebih lajut »

Companies offer student loan relief for new hiresMore companies are now offering to help new hires pay off their student loan debt. The share of job listings that mention loan repayment assistance has more than doubled since 2019, according to new data from job platform Handshake. April Rubin, a breaking news reporter for Axios, joined CBS News to discuss the trend.
Sumber: CBSNews - 🏆 87. / 68 Baca lebih lajut »

Medical-cannabis companies blast New York for ‘clear course for failure’ in state pot-business rolloutCuraleaf, Green Thumb Industries, PharmaCann and Acreage argue that a proliferation of illegal shops and dangerous products is harming the state.
Sumber: MarketWatch - 🏆 3. / 97 Baca lebih lajut »

David Zaslav Says Content Companies Are Talking About Building New BundlesThe Warner Bros. Discovery CEO also addressed the ongoing writer and actor strikes, and the Disney-Charter dispute: 'It feels like this is a moment.'
Sumber: THR - 🏆 411. / 53 Baca lebih lajut »

Stripe, Shopify, H&M spend $7 million on carbon removal from a dozen new companiesThe deal was facilitated by Frontier, a public benefit company started by payment processing company Stripe to accelerate the development of carbon removal tech.
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »