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1 1 (December 15, 2020)

handle is hein.crs/govddaq0001 and id is 1 raw text is: Congressional Research Servkc Proposed New England Rail Merger Could Affect Competition and Passenger Service December 15, 2020 CSX Transportation, one of the seven Class I companies that handle the vast majority of U.S. rail traffic, announced in November an agreement to purchase Pan Am Railways, a smaller, Class II railroad in New England. The deal, if approved by the Surface Transportation Board (STB), could have significant effects on freight and passenger rail traffic throughout New England. Background CSX is one of the c ountry's largest railroads, with 21,000 miles of track in 23 states, 20,000 employees, and annual revenues in excess of $11 billion. It has limited access to markets in New England, where Pan Am, which operates over 1,200 miles of track in five New England states and New York, is an important player. (Pan Am was known as the Guilford Transportation System until 2006. It acquired the branding rights from the defunct Pan American World Airways in 1998.) Several smaller freight railroads also operate locally in New England, making connections to the rest of the United States through CSX; through Norfolk Southern, which shares ownership of a line in Massachusetts with PanAm; or via connections with the Canadian National and Canadian Pacific railroads, which connect New England with other U.S. points through Montreal, Quebec. CSX serves the Port of Boston, but there are few rail customers there. The main CSX facility in the region is an intermodal yard in Worcester, some 50 miles inland, which is also connected to a branch of the Pan Am system. Massachusetts has purchased a number of freight corridors-including the line from Boston to Worcester-in order to prioritize passenger train traffic, but CSX and Pan Am retain ownership of freight easements or trackage rights. Purchasing Pan Am would strengthen CSX's connections to other railroads serving Canadian ports in Saint John, New Brunswick, and Halifax, Nova Scotia. Freight Implications Should the transaction proceed, CSX would controlroughly 25% of rail miles in the six New England states, up from around 6% at present. This could give rise to situations in which customers would no longer have a choice of rail carriers for their shipping needs and therefore could potentially find Congressional Research Service https://crsreports.congress.gov IN11558 CRS NSIGHT Prepared for Membersand Commi ----es o Cong rss-----------------------------------

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