And guess who owns a company that builds the newer, stronger tank cars?
Another, under reported aspect is that the oil trains have caused a near doubling of turn around days for rail cars.
Before this development, I could move cars from Superior, Wisconsin to Houston, drain the cars and return them for another lifting in 30 days.
Today, that time element is close to 60 days. If my freight rate (not including the car cost) was $10/bbl, it’s now $20.
I can’t imagine what the grain haulers are doing about this...
ME.
Anyone can buy stock in these companies the same as I have. When I saw what was going on in the Permian Basin for rail loadouts of crude, it was a no-brainer where to invest all the money I was making designing and building crude loadouts and sand terminals. I bought my first block of 500 shares of Greenbrier at $18.08 in early 2013. The 52wk high for GBX... $78.32.