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Winning bid for railway in fiery Lac-Megantic derailment was $15.9 million

PORTLAND, Maine - The Chapter 11 trustee says the winning bid for a Maine-based railroad that went bankrupt after a fiery oil train derailment in Lac-Megantic, Que., amounted to nearly $15.9 million. Robert Keach filed documents Wednesday outlining details a day before the winning bid goes before a U.S. bankruptcy judge in Maine and a Superior Court judge in Quebec.

Eurotunnel breaks through billion euro barrier

Channel Tunnel operator Eurotunnel achieved one billion euros in turnover in 2013 for the first time, the company said on Wednesday. That was an increase of 10.0 percent from the 2012 figure to 1.09 billion euros ($1.48 billion). The main reason for the growth in traffic was performance by rail freight operator Europorte, which turned in a year-on-year increase of 13.8 percent. High-speed train traffic through the tunnel increased also, by 1.3 percent. The tunnel runs beneath the sea between northern France and southern England. jul/bpi/dh/hd

Maine-based railroad in Canada derailment that killed 47 sold in closed-door auction

PORTLAND, Maine - A Maine-based railroad that went bankrupt after a fiery oil train derailment killed 47 people last summer in Canada has been sold in a closed-door auction. One of the losing bidders in Tuesday's auction says a subsidiary of Fortress Investment Group won the closed-door bidding for Montreal, Maine and Atlantic Railway. Chapter 11 trustee Robert Keach has declined to comment on the proceedings but has said the goal is to recoup losses while keeping the railroad in operation. A Fortress spokesman hasn't returned a call seeking comment.

Railway in Lac-Megantic crash that killed 47 sold in closed-door auction

PORTLAND, Maine - The Maine-based railway that went bankrupt after a fiery oil train derailment killed 47 people last summer in Lac-Megantic, Que., was sold at auction Tuesday to a subsidiary of a New York City-based investment management company. Railroad Acquisitions LLC, a subsidiary of Fortress Investment Group, won the closed-door bidding for Montreal, Maine and Atlantic Railway, according to one of the losing bidders. Details will be disclosed when the outcome is formally announced during court proceedings later this week in Maine and in Canada.

Exclusive: North Dakota governor: railcar safety standards for crude needed now

By Ernest Scheyder NEW YORK (Reuters) - Provisional safety standards for railcars carrying crude oil are needed as soon as possible, not next year as the U.S. Department of Transportation expects, North Dakota Governor Jack Dalrymple said in an interview on Tuesday. While Dalrymple has little power over federal regulators, his bully pulpit as head of the second-largest oil-producing state carries much weight as a national debate rages over the safety of shipping crude oil by rail.

Workers facing layoff at Regina steel mill given one-week reprieve

REGINA - Improved availability of rail cars has led to a one-week delay in implementation of a potential layoff affecting hundreds of workers at a Regina steel mill. More than 400 employees in Evraz North America's tubular steel division were issued a precautionary notice effective Jan. 20 over concerns that a lack of rolling stock to move pipe orders would force the company to halt production. The United Steelworkers union Local 5890 had said at the time that poor weather conditions in Eastern Canada were probably a factor in the shortage.

Regulator: 18 of 20 oil cars pierced in North Dakota crash

By Brendan O'Brien (Reuters) - Eighteen of 20 tanker cars carrying oil that derailed in the fiery crash of two trains in North Dakota in late December were punctured, spilling more than 400,000 gallons of crude oil, safety regulators reported on Monday. In a preliminary report, the National Transportation Safety Board said the oil train heading east struck a derailed car from a westbound grain train, leading to the derailment and fire about a mile outside the small town of Casselton, North Dakota, on December 30.

Thales Canada wins contract to design rail signalling contract in Japan

Thales Canada has won a contract from East Japan Railway to design the country's first control signalling system for Tokyo's Joban rail line. The value of the contract was not disclosed but Thales says it will help preserve 800 jobs in Toronto and create additional positions in Japan. The contract is the first of three phases that will be awarded before the signalling system is operational in about five years.

Cracked wheel, broken rail at site of New Brunswick train derailment

PLASTER ROCK, N.B. - Investigators have found a cracked wheel and broken rail at the scene of a fiery train derailment in northwestern New Brunswick as about 150 people who live near the crash were told Thursday there is still no timeline for when they can return to their homes with the evacuation entering its third day.

Broken train parts focus of investigation into New Brunswick derailment

PLASTER ROCK, N.B. - A broken axle and a failed braking system have become the focus of an investigation into a fiery train derailment in northwestern New Brunswick. The federal Transportation Safety Board says it is eager to get a closer look at the wreck today. The CN freight train jumped the tracks and caught fire late Tuesday near the village of Plaster Rock. The company says 17 of the train's 122 cars derailed — and some of them were carrying crude oil and propane. Images from the scene show a jumble of burning cars strewn across the tracks in a wooded area.
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