CSX TRANSPORTATION TO ADD FUEL SURCHARGE

CSX TRANSPORTATION TO ADD FUEL SURCHARGE

   CSX Transportation, the rail subsidiary of CSX Corp., mentioned it is going to enforce a gas surcharge of about 4 %, efficient Oct. 25 to offset emerging gas costs. The surcharge will probably be adjusted in line with the cost of petroleum, which is averaging at $37 a barrel.

   The surcharge will duvet native and interline freight strikes. It’ll be carried out through amending price lists and will probably be carried out to all site visitors transferring below price lists, personal worth quotes and likely contracts that incorporate the ones common price lists, CSXT mentioned.

   “Gas costs have doubled all over the previous yr,” mentioned John W. Snow, chairman, president and leader government of CSXT. “Contemporary spikes in costs by myself will price CSXT an extra $30 million for the rest of the yr and build up CSXT’s gas invoice for the yr to $265 million greater than it paid for gas in 1999. The railroad’s 1999 gas expenditures was once $320 million.

   CSX Intermodal, every other CSX Corp. subsidiary, carried out a gas surcharge in March. The present rate carried out to intermodal shipments is 4 %.