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CNBC’s Lori Ann LaRocco reports the Port of New York/New Jersey has moved the most containers among U.S. ports for the fourth month in a row, resulting in the doubling of rail freight on the East Coast and directly benefitting Norfolk Southern.
CNBC has been covering this shift in trade and showcasing the opportunity for rail to capture much of this growth in volume. Norfolk Southern was previously featured when the Port of New York/New Jersey was highlighted as the nation’s fastest growing port in October.
This coverage follows Norfolk Southern’s recent investor day, where the company’s leadership highlighted the railroad’s powerful network and desirable geographic position. Norfolk Southern’s network serves some of the nation’s largest population centers, has more short-line partnerships than any other Class I railroad, and trusted, long-standing relationships with customers who lead their own markets. Our railroad has been preparing for this shift for over 20 years, opening a dozen new intermodal facilities since 2000 and developing five strategic corridors to double intermodal volumes from 2.2 million to 4.4 million units since 2004.
Combining that robust network with our strong relationships at more than 50 ports positions Norfolk Southern to take advantage of trends like the growth at ports up and down the East Coast. This will be furthered by the company’s focus on providing reliable, resilient service and for customers.
Quoted in the CNBC article, Norfolk Southern’s Executive Vice President and Chief Marketing Officer Ed Elkins said: “Strategic corridor investments and the opening of a dozen new intermodal facilities since 2014 have created the capacity and productivity to support volume growth on our network. As the global economy becomes even more reliant on the East Coast for supply chain needs, we see a great possibility for smart, sustainable growth.”
Read more from CNBC.