General American Transportation Corporation
Encyclopedia
GATX Corporation is an equipment finance company based in Chicago, Illinois
. Founded in 1898, GATX's primary activities consist of railcar operating leasing in North America and Europe. In addition, GATX leases locomotive
s in North America, and also has significant investments in industrial equipment and marine assets, including ownership of the American Steamship Company
, which operates on the Great Lakes. The CEO/Chairman is Brian A. Kenney.
GATX is one of several major North American rail operating lessors, and measured by fleet size, ranks as number two in this market behind GE Rail Services. Other major North American rail operating lessors include CIT, First Union, Union Tank Car Company
, Trinity Industries Leasing, ARL, and Helm Financial.
GATX derives its name from its primary reporting mark for its North American railcars, "GATX". The mark itself was derived from GATX's prior corporate name, "General American Transportation". Since all non-railroad owners of railcars must append an "X" to the end of their mark, GAT became GATX. GATX mainly applies the GATX mark to tank cars, although the mark has been used in other examples such as with hoppers; GATX's primary freightcar marks are GACX (for general-service freight cars), GGPX (for coal cars), GIMX (for intermodal cars), GPLX (for plastic pellet cars), GMTX and LLPX (for locomotives), and GPFX (for pressure-differential cars). GATX also owns a number of other marks, including GABX, GAEX, GFSX, GOHX, GSCX, IPSX, and TRIX. Many GATX cars carry a large "GATX" logo in the upper right-hand corner of the car regardless of the reporting mark they carry; this logo is applied for marketing reasons and does not have any operational significance.
GATX engages in both full-service and net leasing of railcars. In a full-service lease, a GATX-owned mark is applied to the car, and GATX maintains the railcar and pays for any required property insurance and property taxes. In a net lease, the lessee applies its mark to the car, and the lessee pays for any required property insurance and property taxes. Often, on a net-leased car, there is no evidence of GATX ownership, although some net lease cars carry a GATX logo.
The most common type of car in the GATX North American fleet is the tank car
; other major car types include covered hopper
s, open-top hoppers
, and gondolas
. GATX invests in nearly every type of railcar operated in North America. In Europe, tank cars also make up GATX's largest fleet, but unlike in North America, GATX's European fleet includes substantial quantities of intermodal cars which are owned in a GATX joint venture called AAE Cargo. In contrast, GATX's North American intermodal car fleet is relatively small. This is true of most North American operating lessors; historically the bulk of the industry's intermodal investment has been made by TTX Corporation, which is jointly owned by North America's Class I railroads.
, Italy shortly before midnight local time (22:00 UTC) on 29 June 2009. The derailed wagons crashed into houses alongside the railway line. One wagon derailed because of axle failure, and a further four wagons were derailed as a result. The wagons, which were owned by KVG Kesselwagen, a division of GATX and leased to ExxonMobil
and ERG
(the owners of the oil refinery where the train left), were reported to have been carrying Liquified Petroleum Gas
(LPG).
Two of these railcars exploded and caught fire. Eighteen people were reported to have been killed in the explosion and a large area of Viareggio was damaged in the subsequent fires caused by the wagons carrying LPG exploding. 26 people were reported to have been injured in the accident, of those 12 more died bringing the total victim count up to 32.
Illinois
Illinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
. Founded in 1898, GATX's primary activities consist of railcar operating leasing in North America and Europe. In addition, GATX leases locomotive
Locomotive
A locomotive is a railway vehicle that provides the motive power for a train. The word originates from the Latin loco – "from a place", ablative of locus, "place" + Medieval Latin motivus, "causing motion", and is a shortened form of the term locomotive engine, first used in the early 19th...
s in North America, and also has significant investments in industrial equipment and marine assets, including ownership of the American Steamship Company
American Steamship Company
The American Steamship Company is an American transportation company that operates a fleet of in the Great Lakes. The company is owned by the General American Transportation Corporation .-History:...
, which operates on the Great Lakes. The CEO/Chairman is Brian A. Kenney.
GATX is one of several major North American rail operating lessors, and measured by fleet size, ranks as number two in this market behind GE Rail Services. Other major North American rail operating lessors include CIT, First Union, Union Tank Car Company
Union Tank Car Company
Union Tank Car Company or UTLX is a railway equipment leasing company headquartered in metro Chicago, Illinois. As the name says, they specialise in tank cars, and covered hopper cars.Founded in 1866 by J. J...
, Trinity Industries Leasing, ARL, and Helm Financial.
GATX derives its name from its primary reporting mark for its North American railcars, "GATX". The mark itself was derived from GATX's prior corporate name, "General American Transportation". Since all non-railroad owners of railcars must append an "X" to the end of their mark, GAT became GATX. GATX mainly applies the GATX mark to tank cars, although the mark has been used in other examples such as with hoppers; GATX's primary freightcar marks are GACX (for general-service freight cars), GGPX (for coal cars), GIMX (for intermodal cars), GPLX (for plastic pellet cars), GMTX and LLPX (for locomotives), and GPFX (for pressure-differential cars). GATX also owns a number of other marks, including GABX, GAEX, GFSX, GOHX, GSCX, IPSX, and TRIX. Many GATX cars carry a large "GATX" logo in the upper right-hand corner of the car regardless of the reporting mark they carry; this logo is applied for marketing reasons and does not have any operational significance.
GATX engages in both full-service and net leasing of railcars. In a full-service lease, a GATX-owned mark is applied to the car, and GATX maintains the railcar and pays for any required property insurance and property taxes. In a net lease, the lessee applies its mark to the car, and the lessee pays for any required property insurance and property taxes. Often, on a net-leased car, there is no evidence of GATX ownership, although some net lease cars carry a GATX logo.
The most common type of car in the GATX North American fleet is the tank car
Tank car
A tank car is a type of railroad rolling stock designed to transport liquid and gaseous commodities.-Timeline:...
; other major car types include covered hopper
Covered hopper
A Covered Hopper is a railroad freight car. They are designed for carrying dry bulk loads, varying from grain to products such as sand and clay. The cover protects the loads from the weather - dried cement would be very hard to unload if mixed with water in transit, while grain would be liable to...
s, open-top hoppers
Hopper car
A hopper car is a type of railroad freight car used to transport loose bulk commodities such as coal, ore, grain, track ballast, and the like. The name originated from the coke manufacturing industry which is part of the steel industry ....
, and gondolas
Gondola (rail)
In railroad terminology, a gondola is an open-top type of rolling stock that is used for carrying loose bulk materials. Because of its low side walls, gondolas are used to carry either very dense material, such as steel plates or coils, or bulky items such as prefabricated pieces of rail...
. GATX invests in nearly every type of railcar operated in North America. In Europe, tank cars also make up GATX's largest fleet, but unlike in North America, GATX's European fleet includes substantial quantities of intermodal cars which are owned in a GATX joint venture called AAE Cargo. In contrast, GATX's North American intermodal car fleet is relatively small. This is true of most North American operating lessors; historically the bulk of the industry's intermodal investment has been made by TTX Corporation, which is jointly owned by North America's Class I railroads.
Viareggio train derailment (2009)
A freight train with 14 bogie tank wagons was derailed at ViareggioViareggio
Viareggio is a city and comune located in northern Tuscany, Italy, on the coast of the Tyrrhenian Sea. With a population of over 64,000 it is the main centre of the northern Tuscan Riviera known as Versilia, and the second largest city within the Province of Lucca.It is known as a seaside resort...
, Italy shortly before midnight local time (22:00 UTC) on 29 June 2009. The derailed wagons crashed into houses alongside the railway line. One wagon derailed because of axle failure, and a further four wagons were derailed as a result. The wagons, which were owned by KVG Kesselwagen, a division of GATX and leased to ExxonMobil
ExxonMobil
Exxon Mobil Corporation or ExxonMobil, is an American multinational oil and gas corporation. It is a direct descendant of John D. Rockefeller's Standard Oil company, and was formed on November 30, 1999, by the merger of Exxon and Mobil. Its headquarters are in Irving, Texas...
and ERG
Edoardo Raffinerie Garrone
ERG is an Italian multi-energy company, founded in 1938 and based and headquartered in Genoa, Italy.ERG has been listed on the Milan stock exchange since 1997.-Origins, development, integration:...
(the owners of the oil refinery where the train left), were reported to have been carrying Liquified Petroleum Gas
Liquified petroleum gas
Liquefied petroleum gas is a flammable mixture of hydrocarbon gases used as a fuel in heating appliances and vehicles. It is increasingly used as an aerosol propellant and a refrigerant, replacing chlorofluorocarbons in an effort to reduce damage to the ozone layer...
(LPG).
Two of these railcars exploded and caught fire. Eighteen people were reported to have been killed in the explosion and a large area of Viareggio was damaged in the subsequent fires caused by the wagons carrying LPG exploding. 26 people were reported to have been injured in the accident, of those 12 more died bringing the total victim count up to 32.
External links
- GATX official website