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Article: NS deals with diesel fuel prices. (Industry Outlook).(Norfolk Southern Corp.)(Brief Article)
- Article from:
- Railway Age
- Article date:
- June 1, 2003
CopyrightCOPYRIGHT 2003 Simmons-Boardman Publishing Corporation. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Rising diesel fuel prices accounted for the largest increase in operating expenses for Norfolk Southern during this year's first quarter. Diesel fuel expense increased by $23 million to $104 million compared with $81 million in 2002. "Concerns about interruption in the supply of oil as the likelihood of war in Iraq increased drove diesel fuel costs to record high levels," NS Vice Chairman and Chief Financial Officer Henry C. Wolf told the Bear Stearns Global Transport & Logistics Conference on May 13, 2003. "We began a fuel-hedging program in 2001 consisting of swaps and advance purchases to help us control the ...
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Article: Fitch Affirms Norfolk Southern IDR at 'BBB+'; ...
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... ... levels, Fitch expects Norfolk Southern's credit profile ... Over one-third of Norfolk Southern's book of business ... however, as lower diesel fuel prices drive a reduction ... surcharge revenue. Norfolk Southern's credit profile ...
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