CSX CFO Highlights Continued Long-term Growth Supported by Intermodal Expansion
JACKSONVILLE, Fla., June 11, 2013 /PRNewswire/ -- Expansion in domestic and international intermodal markets will help to drive continued long-term profitable growth at CSX, the company's Chief Financial Officer Fredrik Eliasson told analysts today at the 2013 Cowen and Company 6th Annual Global Transportation Conference in New York.
"Our network serves nearly two-thirds of the nation's population and is well-positioned to capture a significant share of the domestic intermodal market opportunity, estimated at about 9 million total loads in the eastern United States," Eliasson said. "Investments in expanded capacity will help convert this long-run opportunity, building on about 30 percent growth in our intermodal business over the last three years."
CSX shipped 2.5 million intermodal containers in 2012, with 90 percent of that traffic in double-stacked service. The company continues to invest in capital projects to expand its intermodal network, which will further increase double-stacked corridors by 2015 with hubs aligned with major ports and population centers.
Eliasson also appeared on the "Bloomberg Surveillance" television and radio program prior to his conference appearance to discuss the renaissance in the rail industry and CSX's balanced approach to creating shareholder value. To view the interview, visit http://www.bloomberg.com/video/u-s-oil-boom-boosting-railway-growth-csx-cfo-says-Wl0YaR8OS8S4w5~g8dsvtQ.html.
For more information about CSX's growth and balanced capital approach, visit http://investors.csx.com/phoenix.zhtml?c=92932&p=irol-irhome.
CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For more than 185 years, CSX has played a critical role in the nation's economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation's population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and small farming towns alike. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook (http://www.facebook.com/OfficialCSX) and follow us on Twitter (http://twitter.com/CSX).