NEW YORK-listed, oregon-based Greenbrier Companies has received orders for more than 1,000 new double-stack intermodal railcars, and will also re-engineer and modify about 1,100 double-stack platforms to carry 53-foot containers.

The new railcar order and refurbishment work is valued at about US$130 million.

The company also has orders for more than 700 new covered hopper cars, but is in talks with a major barge company that could cancel those orders, reports the American Shipper.

There is "a growing need for 53-foot double-stack well capacity in North America, despite a continued surplus of 40-foot and 48-foot equipment," Greenbrier said. "The recent strong growth in 53-foot domestic containerisation allows railroad shippers to compete effectively with longer and heavier trucks on the nation's highways."

Greenbrier's orders are from five major North American railroad and leasing companies. A prospectus filed with the Securities and Exchange Commission in April said major customers include Burlington Northern Santa Fe, Union Pacific, and General Electric Railcar Services Corp.

Source: shipping online