Short Line Chosen to Ship Scrap

New York Regional Rail Corp. announced that its rail subsidiary, New York Cross Harbor Railroad has been selected to transport approximately 150 railcars of scrap metal.

These moves will be in conjunction with the New York & Atlantic Railroad and the Norfolk Southern. This marks the second joint bid awarded to these carriers in as many months. These moves are expected to be completed within 30 days. Wayne Eastman, president of the NYCH, stated, "What makes these moves even more important is that it further strengthens our ties with our connecting railroads. All three of us recognize the value of working together in order attract new clients and continue to expand our market share. With each successful bid we further reinforce our alliances. I believe that a determined and cooperative effort by our railroads can greatly reduce the disparity in rail versus truck transportation. There is an enormous opportunity for our company to increase revenue on the cross-harbor portion of our business, and at the same time reduce truck-highway congestion in the Tri-State Region."

Howard Samelson, general manager of the NYCH added, "Scrap metal has historically been a commodity that is extremely price sensitive, moving only when the demand is great. With the new steel tariffs we should see more movement because of the increased costs of foreign steel and the reduced supply in the United States. This is a renewed opportunity for NYCH and the NY & A as we both have many recyclers on our lines in Brooklyn, Queens and throughout Long Island. Our team looks forward to further positive developments in this market as we pursue addition contracts. The ability to grow our business while recycling our waste and removing truck traffic from the Region is an environmental triple-play."