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Union Pacific's Intermodal Service Took Hit During Second Quarter

Union Pacific's (NYSE: UNP) intermodal rail service saw average speeds sink to a two-year low in the second quarter, with shippers and intermodal marketing companies reporting extensive delays in getting their freight from the railroad. The service hit came during an overall lull for West Coast container imports. And many of the delays were due to the extreme rains and flooding that hit the U.S. Midwest. But shippers also say the railroad's efficiency drive may have also contributed to the service deterioration. High winds and severe rains forced Union Pacific to run shorter trains at slower speeds, so cargo has not been as quickly throughout its system in the last few months. In June, Mediterranean Shipping Company (MSC) said BNSF would replace Union Pacific for its intermodal rail service out of marine terminals in Los Angeles and Long Beach.

First found on: www.benzinga.com And then on: 1 other references