FORT WORTH, Texas–(BUSINESS WIRE)–In January 2017, J.B. Hunt Transport Services, Inc., (NASDAQ: JBHT)
(JBHT) and BNSF Railway (BNSF) commenced an arbitration on matters
relating to their joint service product. On Friday October 5, 2018, BNSF
and JBHT received the confidential interim arbitration award from the
Arbitration Panel. While there are still matters to be finalized by the
panel, BNSF is pleased with the decision which, when final, should
result in favorable revenue division adjustments to BNSF for historic
periods and going forward, resulting in payments to BNSF and improving
the efficiency of our joint service product. With the key issues
resolved, BNSF looks forward to working with JBHT to finalize the award
and implement its directives.
BNSF Railway is one of North America’s leading freight transportation
companies. BNSF operates approximately 32,500 route miles
of track in 28 states and also operates in three Canadian provinces.
BNSF is one of the top transporters of consumer goods, grain and
agricultural products, low-sulfur coal, and industrial goods such as
petroleum, chemicals, housing materials, food and beverages. BNSF’s
shipments help feed, clothe, supply, and power American homes and
businesses every day. BNSF and its employees have developed one of the
most technologically advanced, and efficient railroads in the industry.
We work continuously to improve the value of the safety, service,
energy, and environmental benefits we provide to our customers and the
communities we serve. You can learn more about BNSF at www.BNSF.com.
BNSF Railway Company
Zak Andersen, 817-867-6250