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CIT Rail orders 3500 wagons

07 Jun 2012

USA: On June 4 leasing company CIT Rail announced it had placed orders with several manufacturers for 3 500 wagons to be delivered in 2012-13. The orders include oil and gas tank wagons to support increased exploration and drilling activity, and covered hoppers for the plastic resin industry.

The orders take CIT Rail's total investment in tank and covered hopper wagons since 2011 to $1·5bn. CIT Rail says it is the third largest wagon leasing firm in North America, with more than 100 000 wagons and 450 locomotives leased to around 500 customers.

'It is important that rail carriers and shippers have access to modern, high-capacity equipment that maximises their loading efficiencies while transporting goods', said CIT Rail President George Cashman. 'With one of the youngest fleets among major North American leasing companies, CIT Rail is committed to meeting this need. These new car orders reinforce that commitment and enable growth in the rail transportation sector.'