2023年6月23日

FreightWaves點擊關閉產品發射台回家/新聞/考恩預計負麵的財務影響的互惠交換如果機頂盒的進步與互惠交換,鐵路可以感覺到影響周五在2025年開始,2023年6月23日投資公司考恩認為互惠交換對美國一級鐵路產生潛在的負麵影響。(照片:吉姆·艾倫/ FreightWaves)投資公司考恩說,互惠交換可能產生負麵的金融影響美國鐵路工業開始大約在2025年,根據一項新的研究報告。但是一些安全措施在鐵路安全國會通過法案,使其可以“微不足道的資本支出的影響”等項新規定的實施熱箱探測器在美國鐵路網絡。“美國rails高調hazmat脫軌後麵臨更大的監管審查和具有曆史意義的鐵路合並,“傑森Seidl,考恩運輸主管,在周三發布的研究報告中指出的,顯然指的是諾福克南方事故在東巴勒斯坦,俄亥俄州,在2月和最近的加拿大太平洋合並和堪薩斯城南部。“互惠交換和鐵路安全的思想。“鐵路股票可能麵臨的壓力總體風險和降低鐵路倍數,Seidl說。倍數的比率,投資者用來比較公司的財務指標在同一部門,根據Investopedia。考恩接受采訪的水陸運輸委員會主席馬蒂Oberman和證實,該機構預計6月決定批準互惠交換今年的某個時候。相互切換,Oberman說可以打開門托運人的競爭,當托運人有權訪問一個貨運鐵路但希望訪問附近的貨運鐵路競爭培養一個競爭性的定價環境。一些互惠交換已經發生在美國網絡,但機頂盒的決定可以給發貨人訪問這個選項。 Although “the devil will be in the details of any legislation,” Cowen estimates that there could be a 5% to 10% average impact on rail pricing for roughly one-third of carloads on the networks of Eastern carriers CSX ( NASDAQ: CSX ) and Norfolk Southern ( NYSE: NSC ). This is because there is a greater degree of overlap between their networks. Meanwhile, Union Pacific ( NYSE: UNP ) could see one-fifth of its carloads affected by reciprocal switching. UP’s network could be less affected because it doesn’t overlap as much with competitor BNSF ( NYSE: BRK ). “We expect U.S. Class I stocks to react negatively to an announcement ushering in reciprocal switching rules while acknowledging that financial impacts will take time to materialize,” Seidl said. “On the safety side, the Railway Safety Act should have negligible capex implications, in our view, particularly compared to past bouts of safety regulation and have minimal effect on the stocks.”