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Why it is important: It enables the railroads to own and use less railcars. It also enables the railroads to charge demurrage fees to those shippers that cannot load and release railcars in a 24 hour period. The additional demurrage charges are raising the profits of the railroad companies significantly to the delight of Wall Street.
In addition, ferrous scrap is currently exempt from regulatory (i.e., Surface Transportation Board) oversight which leaves the ferrous scrap industry with virtually no remedies in situations where rail customers experience poor rail service or excessive fees. While the STB’s Office of Public Assistance is certainly helpful, they lack the statutory authority to initiate an investigation of railroad actions or take enforcement action against the railroads.
For more information about ISRI’s advocacy against unfair treatment from the railroads, please contact Billy Johnson or call (202) 662-8548.
SPAN