John D. Boyd | Jan 20, 2011 9:31PM GMT

The Journal of Commerce Online - News Story

CEO Young says rising diesel fuel prices push more freight to trains

Trucking companies are telling Union Pacific Railroad are indicating they want to push a greater share of their freight onto trains for long-haul transport, says James R. Young, UP's chairman, president and CEO.

"Our discussions with many of our trucking partners indicate they have a very strong interest in improving the amount of business they move intermodally." Young told analysts on a conference call about UP's fourth quarter earnings.

He said rising diesel prices will help push more freight to trains in the year ahead, given the expected rise in highway fuel costs, and "that brings added pressure on the cost of moving on the highway."

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