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Norfolk Southern's (NSC) New Service to Connect East-West Coasts
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Norfolk Southern (NSC - Free Report) announced the OceaNS Bridge Express service in partnership with Hapag-Lloyd, Union Pacific Corporation (UNP - Free Report) and the Port of Virginia, aimed at easing congestion and helping shippers reach West Coast markets through an expedited service from the East Coast.
The first-of-its-kind service will originate at the Norfolk International Terminal at the Port of Virginia. The traffic will be interchanged with Union Pacific in Chicago, IL, with connections to West Coast markets.
Shawn Tureman, Norfolk Southern’s vice president of Intermodal & Automotive Marketing, said, "The current environment has led shippers and carriers to think creatively about moving their goods." Tureman added, "In response, our team took a customer-centric approach by formulating a partnership with Hapag-Lloyd and Union Pacific, providing a new option for shipping to markets in the Western United States."
Union Pacific feels that its intermodal network is appropriate for this new overland service. The company’s joint service product to Seattle, WA; Oakland, CA; Los Angeles, CA; and Long Beach, CA is expected to speed up these transatlantic shipments to consumer markets in the west.
Through Norfolk Southern’s leading Intermodal capabilities, the OceaNS Bridge Express will help in quickly moving containers from an East Coast origin to West Coast destinations. NSC expects this coast-to-coast solution to somewhat ease the challenges faced by shippers at West Coast ports.
Both Norfolk Southern and Union Pacific carry a Zacks Rank #3 (Hold).
Key Picks
Some better-ranked stocks within the broader Transportation sector are as follows:
Golar LNG Limited (GLNG - Free Report) carries a Zacks Rank #2 (Buy). The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters and missing the same once, the average surprise being 42.1%. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Shares of Golar LNG have rallied more than 93% in a year.
Star Bulk Carriers (SBLK - Free Report) carries a Zacks Rank #2. The company's earnings have surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missed once, the average surprise being 7.1%.
Shares of Star Bulk have gained more than 31% in a year.
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Norfolk Southern's (NSC) New Service to Connect East-West Coasts
Norfolk Southern (NSC - Free Report) announced the OceaNS Bridge Express service in partnership with Hapag-Lloyd, Union Pacific Corporation (UNP - Free Report) and the Port of Virginia, aimed at easing congestion and helping shippers reach West Coast markets through an expedited service from the East Coast.
The first-of-its-kind service will originate at the Norfolk International Terminal at the Port of Virginia. The traffic will be interchanged with Union Pacific in Chicago, IL, with connections to West Coast markets.
Shawn Tureman, Norfolk Southern’s vice president of Intermodal & Automotive Marketing, said, "The current environment has led shippers and carriers to think creatively about moving their goods." Tureman added, "In response, our team took a customer-centric approach by formulating a partnership with Hapag-Lloyd and Union Pacific, providing a new option for shipping to markets in the Western United States."
Norfolk Southern Corporation Price
Norfolk Southern Corporation price | Norfolk Southern Corporation Quote
Union Pacific feels that its intermodal network is appropriate for this new overland service. The company’s joint service product to Seattle, WA; Oakland, CA; Los Angeles, CA; and Long Beach, CA is expected to speed up these transatlantic shipments to consumer markets in the west.
Through Norfolk Southern’s leading Intermodal capabilities, the OceaNS Bridge Express will help in quickly moving containers from an East Coast origin to West Coast destinations. NSC expects this coast-to-coast solution to somewhat ease the challenges faced by shippers at West Coast ports.
Both Norfolk Southern and Union Pacific carry a Zacks Rank #3 (Hold).
Key Picks
Some better-ranked stocks within the broader Transportation sector are as follows:
Golar LNG Limited (GLNG - Free Report) carries a Zacks Rank #2 (Buy). The company has a stellar earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters and missing the same once, the average surprise being 42.1%. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Shares of Golar LNG have rallied more than 93% in a year.
Star Bulk Carriers (SBLK - Free Report) carries a Zacks Rank #2. The company's earnings have surpassed the Zacks Consensus Estimate in three of the preceding four quarters and missed once, the average surprise being 7.1%.
Shares of Star Bulk have gained more than 31% in a year.