NS: Intermodal up, coal down in 2013 - Beckley, Bluefield & Lewisburg News, Weather, Sports

NS: Intermodal up, coal down in 2013

Posted: Updated:
  • Local NewsLocal NewsMore>>

  • Officers In Tazewell County Work To Keep Your Holiday Travel Safe

    Officers In Tazewell County Work To Keep Your Holiday Travel Safe

    Monday, September 1 2014 6:50 PM EDT2014-09-01 22:50:12 GMT
    Police patrolling the roads this Labor DayPolice patrolling the roads this Labor Day
    According to AAA, 34.7 million people are expected to hit the road this Labor Day. Many police officers are out in force to keep you safe.
    According to AAA, 34.7 million people are expected to hit the road this Labor Day. Many police officers are out in force to keep you safe.
  • After fatal McDowell County crash, Troopers caution against drinking and driving over Holiday Weekend

    After fatal McDowell County crash, Troopers caution against drinking and driving over Holiday Weekend

    Monday, September 1 2014 6:00 PM EDT2014-09-01 22:00:38 GMT
    While many are safely celebrating Labor Day, State Troopers want to caution everyone about the dangers of drinking and driving.The West Virginia Department of Transportation says over the last 5 years in the Mountain State, almost 800 people have been killed in a drink driving crash just during Labor Day Weekend. Troopers released these pictures from Sunday morning's fatal crash to show the consequences drinking and driving can have.Read full story on Sunday morning's fatal crash in McDowell ...
    While many are safely celebrating Labor Day, State Troopers want to caution everyone about the dangers of drinking and driving.The West Virginia Department of Transportation says over the last 5 years in the Mountain State, almost 800 people have been killed in a drink driving crash just during Labor Day Weekend. Troopers released these pictures from Sunday morning's fatal crash to show the consequences drinking and driving can have.Read full story on Sunday morning's fatal crash in McDowell ...
  • Update: New Information Released in Raleigh County Murder Investigation

    Update: New Information Released in Raleigh County Murder Investigation

    Monday, September 1 2014 5:33 PM EDT2014-09-01 21:33:21 GMT
    Joe Collins is arrested on murder chargesJoe Collins is arrested on murder charges
    The Raleigh County Sheriffs Office made an arrest Sunday after a man was murdered in Glen White.Joe Collins was arrested and is being charged with 1st degree murder for the shooting and killing of Larry Totten.The incident occurred Sunday morning at Mr. Tottens residence.
    The Raleigh County Sheriffs Office made an arrest Sunday after a man was murdered in Glen White.Joe Collins was arrested and is being charged with 1st degree murder for the shooting and killing of Larry Totten.The incident occurred Sunday morning at Mr. Tottens residence.
  • BusinessBusinessMore>>

  • Union workers at Frontier OK 3-year contract

    Union workers at Frontier OK 3-year contract

    Monday, September 1 2014 12:17 PM EDT2014-09-01 16:17:18 GMT
    The new contract will expire in August 2017. It covers about 1,500 employees in 42 West Virginia counties.
    The new contract will expire in August 2017. It covers about 1,500 employees in 42 West Virginia counties.
  • Shale activity spurs WesBanco growth

    Shale activity spurs WesBanco growth

    Monday, September 1 2014 10:00 AM EDT2014-09-01 14:00:29 GMT
    Managing growth has been a problem for some companies in the shale gas region of West Virginia, leading WesBanco to provide services to help them.
    Managing growth has been a problem for some companies in the shale gas region of West Virginia, leading WesBanco to provide services to help them.
  • WV workforce lacks oil and gas expertise — for now

    WV workforce lacks oil and gas expertise — for now

    Sunday, August 31 2014 5:00 PM EDT2014-08-31 21:00:19 GMT
    Despite the relatively high amount of natural gas production in West Virginia, less than 3 percent of employees in some of the major occupations that make up the sector's workforce live in the Mountain State.
    Despite the relatively high amount of natural gas production in West Virginia, less than 3 percent of employees in some of the major occupations that make up the sector's workforce live in the Mountain State.

Cargo shipments on the Heartland Corridor were up 9 percent in the fourth quarter and 16 percent year-over-year for 2014, Norfolk Southern executives said Jan. 22.

The corridor runs from the ocean port at Norfolk to Chicago. The railroad does not have terminals in southern West Virginia to take advantage of the growth on the corridor, but one should open at the Wayne County community of Prichard in the next year or so.

Also growing on the Norfolk Southern system are shipments of natural gas liquids and sand used in hydraulic fracturing, company executives said in a conference call with analysts following the announcement of fourth-quarter and year-end financial results.

For the quarter, Norfolk Southern reported record net income of $513 million. The company also reported record net income for the year at $9 billion, up 9 percent from 2012.

While coal shipments to northern utilities were up 1 percent in the fourth quarter, they were down by 18 percent to southern utilities, where stockpiles are high and competition from natural gas cuts into the market, according to Donald W. Seale, executive vice president and chief marketing officer.

Seale said he expects growth in demand for electricity in the South to be sluggish this year.

"Our best estimate is that normalization of stockpiles will take most of the first half (and) into the third quarter," he said. Northern utility stockpiles are at normal levels, Seale said.

When demand does return, the market will likely move away from coal mined in the Central Appalachian region, which includes southern West Virginia, and toward the Illinois Basin and Northern Appalachia, which includes Northern West Virginia, Seale said.

Central Appalachia coal will be at a cost disadvantage "just from a cost of production perspective," Seale said.

But Northern Appalachia and Illinois are farther from Southern utilities than Central Appalachia is, so that will mean longer hauls and higher revenue per unit for the railroad, depending on how much coal the utilities buy from those two regions, he said.

As for exports, "we don't expect our export market to be as strong in '14 as it was in '13," Seale said.

Norfolk Southern's coal revenues were $641 million, 2 percent lower compared with the fourth quarter of 2012, the result of an 8 percent decline in volumes, the company said in its earnings release. For the year, coal revenues totaled $2.5 billion, compared with $2.9 billion in 2012 and $3.5 billion in 2011.