CSX Freight Train Derails In Philly

By TransportationFOXBusiness

A CSX Corp. (NYSE:CSX) freight train carrying crude oil from Chicago to Philadelphia derailed early Monday morning on a bridge near downtown Philadelphia.

There were no injuries and no reported leakages, the company said in a statement. The cause of the derailment is under investigation.

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The accident occurred on the Schuylkill Arsenal Railroad Bridge where it crosses over the Schuylkill River in Philadelphia. A nearby expressway was closed to automobile traffic for several hours while emergency crews responded, according to local media reports.

The train consisted of two locomotives and 101 freight cars, seven of which derailed in the accident. CSX said six of the derailed cars contained crude oil and the seventh sand.

CSX, a transportation company based in Jacksonville, Fla., said it is working on plans to clear the derailment “in a way that is safe and environmentally responsible."

CSX said Philadelphia emergency first responders arrived at the scene “quickly and took prompt precautionary action.”

CSX reported fourth quarter earnings on Thursday that met analysts’ expectations. The company reported earnings of 42 cents a share and revenue of $3.03 billion for the quarter, compared to the consensus estimates of 43 cents and $3.01 billion.

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