Union Pacific Opening New Southern California Terminal in Major Import Distribution Region
Union Pacific announced a new intermodal terminal in Southern California's import distribution region, set to open in Q2 2021.
Sentiment and the balance of points
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Rhea-AI Summary
Union Pacific announced a new intermodal terminal in Southern California's import distribution region, set to open in Q2 2021. This location, strategically near the Ports of Los Angeles and Long Beach, aims to enhance access to Chicago and other key markets. The initiative will commence with a 'pop-up' terminal at the West Colton rail yard, offering domestic intermodal service initially between Southern California and Chicago, with future expansions planned. This move underscores Union Pacific's commitment to reducing truck traffic and enhancing its intermodal capabilities.
Positive
- Expansion of intermodal services in a high-demand area.
- New terminal opening will improve access to major markets such as Chicago and Dallas.
- Commitment to reducing truck traffic and drayage costs in California.
Negative
- None.
Details
News Market Reaction – UNP
The recorded move for UNP in the trading session of this news was +0.86%.
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OMAHA, Neb., May 4, 2021 /PRNewswire/ -- Union Pacific today announced plans to open a new intermodal terminal in the heart of Southern California's import distribution region. It is the fastest growing region of industrial warehousing and continues to be a leader throughout the United States. Located near the Ports of Los Angeles and Long Beach, the new terminal will open in the second quarter of 2021, providing customers' expanded access to Chicago and other key markets.
"We are excited to expand our intermodal presence and do it where we can reduce truck traffic on California's highways, cut drayage costs and compete effectively for domestic intermodal freight," said Kenny Rocker, Executive Vice President - Marketing and Sales. "Inland Empire Intermodal Terminal demonstrates our commitment to intermodal and the strength of Union Pacific's franchise to grow quickly and strategically using our existing footprint."
Union Pacific will start by establishing a "pop-up" terminal at its West Colton rail yard. Domestic intermodal service will launch between Southern California and Chicago, with expected future service to Dallas and southeast markets.
Union Pacific has the largest intermodal network in North America, with the most direct services from coast to coast.
About Union Pacific
Union Pacific (NYSE: UNP) delivers the goods families and businesses use every day with safe, reliable and efficient service. Operating in 23 western states, the company connects its customers and communities to the global economy. Trains are the most environmentally responsible way to move freight, helping Union Pacific protect future generations. More information about Union Pacific is available at www.up.com.
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SOURCE Union Pacific Corporation
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