CSX Corp to increase crude shipments by 50 pct in 2014-CEO

HOUSTON Thu Jan 16, 2014 9:47am EST

HOUSTON Jan 16 (Reuters) - CSX Corp expects to increase shipments of crude oil via rail by 50 percent this year, Chief Executive Michael Ward told analysts on Thursday.

He said CSX moved about 46,000 loads of crude in 2013, mostly to U.S. East Coast refiners, running a single train per day throughout the year. That increased to two trains per day "more in the fourth quarter," he said.

In 2014 the company expects to move two trains per day "and then we will start positioning ourselves as more and more of the unloading points along the East Coast are developed," Ward said.

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