Genesee cuts speeds of crude trains after Alabama derailment-COO

Tue Feb 11, 2014 9:56am EST

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Feb 11 (Reuters) - U.S. railway Genesee & Wyoming Inc has cut speeds of trains moving crude oil and increased inspections in the aftermath of a fiery derailment involving one of its trains in rural Alabama last year, Chief Operating Officer David Brown told analysts on Tuesday.

Twenty-five railcars carrying crude that was part of a 90-car train derailed in early November. Genesee said at the time that data recorders showed the train was going slower than the 40-mph speed limit. Brown told analysts during a quarterly earnings call that the company cut speeds and increased inspections to increase precautions when transporting crude.

The Alabama derailment and fire is among several accidents in recent months involving crude trains that has increased regulatory scrutiny. No one was hurt in the Alabama incident.

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