After a disappointing set of Q3 results from FedEx last week driven by overcapacity in the international freight industry and an unfavorable volume-mix in the express package delivery segment, we have adjusted our price estimate for the company.
Proponents note that the overall cost of the project would be recouped within a few decades, as the volume of tunnel freight transport activity increased, reaching an estimated 3 percent of the world's total physical cargo or 100 million tons annually.
During the third quarter of 2012, CSX reported a decline in revenue of 2%, which was driven primarily by lower volume in its agriculture and coal freight segments.