Surface Transportation Board

What Surface Transportation Board does

The Surface Transportation Board (STB) is an independent U.S. federal regulatory agency established on January 1, 1996, through the ICC Termination Act of 1995, succeeding the Interstate Commerce Commission's rail oversight functions. Headquartered at 395 E Street SW, Washington, D.C., and led by Chairman Patrick Fuchs, the STB exercises statutory authority over the economic regulation of freight rail in the United States. Its primary responsibilities include adjudicating railroad mergers and acquisitions, resolving rate and service disputes between rail carriers and shippers, overseeing rail competition policy, and facilitating rail infrastructure development. The agency's jurisdiction extends over all Class I, II, and III railroads, including the seven Class I carriers (BNSF, CN, CP, CPKC, CSX, NS, and UP) that dominate U.S. freight rail.

The STB's core digital infrastructure consists of a web-based E-Filing System for submitting formal filings, recordations, environmental comments, and FOIA requests (accepting attachments up to 500 MB); searchable Dockets and Service Lists; a public Filings registry; a daily Decisions database; and the Rail Customer & Public Assistance (RCPA) function for informal dispute resolution. Data products include weekly Rail Service Data submitted by Class I carriers (covering train speed, terminal dwell time, grain/coal train performance, and Chicago gateway metrics) and Economic Data products including the Uniform Rail Costing System (URCS) and Rail Cost Adjustment Factor (RCAF). A new Open Data Portal (Beta) is being developed to expand public dataset access. The agency fulfills environmental review obligations under NEPA and the National Historic Preservation Act through its Environmental Comments platform and the Office of Environmental Analysis.

The STB is funded entirely through congressional appropriations and does not generate commercial revenue; nominal filing fees for formal proceedings and recordations (set under 49 C.F.R. § 1002.2) are administrative cost-recovery instruments, not a revenue stream. Its user base comprises Class I/II/III railroads, shippers (manufacturers, agricultural and chemical producers, energy companies), legal practitioners before the Board, and the general public. The agency is currently processing the largest rail merger in U.S. history — the $85 billion Union Pacific–Norfolk Southern transaction, filed December 19, 2025 — which is expected to undergo an 18-month review and represents the first formal test of stricter 2001 merger rules.

Name

Surface Transportation Board

Legal name

Surface Transportation Board

Website

https://stb.gov

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

51–100 employees

Short description

The Surface Transportation Board is an independent U.S. federal agency that economically regulates freight rail, overseeing mergers, rate and service disputes, and rail infrastructure development for Class I carriers, shippers, and the public.

Ownership category

akta.pro rank

Product category

Freight Rail Economic Regulation

NAICS

Regulation and Administration of Transportation Programs (92612)

SIC

Transportation Services (4700)

akta.pro primary industry

Transportation Regulators (Aviation, Maritime, Rail, Road) (BPAIAOAL)

Keywords

• Freight rail regulation
• Economic regulatory agency
• Rail merger oversight
• Transportation dispute resolution
• Rail service data

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Others

Revenue model

1. Filing fees and user fees: The STB collects filing fees for various proceedings and recordations, as well as fees associated with e-filing submissions. Files up to 500 MB can be accepted as attachments through the e-filing system.

Pricing tiers

Distribution channels3 records

Marketing channels4 records

Core offering

The Surface Transportation Board is an independent U.S. federal regulatory agency that provides economic regulation of freight rail and other surface transportation modes. Its core services include processing formal filings and proceedings (mergers, rate disputes, abandonment exemptions), operating an E-Filing System, publishing Board decisions and dockets, conducting environmental reviews under NEPA/NHPA, collecting and publishing rail service and economic data, and providing informal dispute resolution through the Rail Customer & Public Assistance (RCPA) program. The agency serves rail carriers, shippers, practitioners, and the public.

Product overview

The Surface Transportation Board is a U.S. federal economic regulatory agency — not a commercial product company. Its "products" are regulatory and administrative services organized around a case-management and records platform. The core digital infrastructure consists of the E-Filing System (for submitting formal documents), the Decisions and Filings databases (for accessing Board outputs), the Dockets system (for navigating proceedings), Environmental Comments (for NEPA-related submissions), and Case Status tracking. Data products include Rail Service Data (weekly Class I railroad performance metrics) and Economic Data (revenue, cost, and industry statistics). Rail Customer & Public Assistance (RCPA) provides informal dispute resolution. A new Open Data Portal (Beta) is being developed for broader dataset access. The STB does not offer a unified SaaS platform in the traditional sense; rather, it provides discrete web-based portals and data repositories for regulatory participation and public transparency.

Differentiator

Problem solved

Functional benefit

Products and services

• E-Filing System A web-based electronic filing portal enabling parties to submit formal filings, environmental comments, recordations, FOIA requests, and other documents to the Board. Accepts files up to 500 MB; filings received after 5:00 p.m. ET are processed the next business day.
• Decisions Database Daily release of Board decisions listed by docket number, covering cases across all proceeding types including abandonment exemptions, acquisition exemptions, rate disputes, and policy statements.
• Filings Registry Public registry of all filings received by the Board each day, organized by docket number, filing type, filing ID, and the party submitting.
• Dockets (Including Service Lists) Searchable docket system providing access to filings, decisions, and service lists for all Board proceedings by docket number and title keywords.
• Environmental Comments Repository of environmental review documents submitted by parties in STB proceedings, as well as correspondence from the Office of Environmental Analysis (OEA), organized by docket number.
• Rail Service Data Weekly performance data submitted by Class I railroads including train speed, terminal dwell time, cars held, grain car metrics, coal train performance, and Chicago gateway data. Data available in consolidated and individual carrier spreadsheets.
• Economic Data Collected data on railroad revenues, income, volumes, employment, wages, fuel surcharges, cost of capital, and revenue adequacy. Includes the Rail Cost Adjustment Factor (RCAF) and Uniform Rail Costing System (URCS).
• Rail Customer & Public Assistance (RCPA) Informal assistance office providing support to railroads, shippers, practitioners, and the public on railroad-shipper disputes and regulatory questions. Contact via [email protected] or (202) 245-0245.
• Case Status Tracking Regular updates from Chairman Patrick Fuchs on the current stage and projected timing of pending Board proceedings, including next expected action dates and status categories such as Board Review, Environmental Review, Exemption, and Record Building.
• Open Data Portal (Beta) Beta-stage portal providing public access to STB datasets, allowing users to explore and download agency data.
• Formal Filings Processing STB processes formal filings including applications, petitions, complaints, and other formal submissions, charging transaction-based fees per 49 C.F.R. § 1002.2. Fee waiver requests are available.
• Recordations (Security Interest Registration) STB provides registration and perfection of security interests related to rail equipment or water vessels under transaction-based fees.

Quantifiable outcome

• The UP-NS merger would create a $85 billion merger application, the largest rail merger in U.S. history
• +3 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core and minor.

• Union Pacific Railroad CompanycoreOthers · 30 July 2026Union Pacific is a major Class I railroad subject to STB jurisdiction. UP filed a $85 billion merger application with Norfolk Southern, which is currently under STB review. UP's CEO made public remarks at the Trains Magazine Future of Rail Symposium following a supplemental merger filing with the STB.
• Norfolk Southern Railway CompanycoreOthers · 30 July 2026Norfolk Southern is a major Class I railroad subject to STB jurisdiction. NS filed a joint merger application with Union Pacific, which is under STB review. NS's CEO participated in public remarks at the Trains Magazine Future of Rail Symposium following the supplemental filing.
• BNSF Railway CompanycoreOthers · 30 July 2026BNSF is a major Class I railroad subject to STB jurisdiction. BNSF CEO Katie Farmer pushed back against the proposed UP-NS merger at the Trains Magazine Future of Rail Symposium, arguing the merger would create a railroad with 50% market share of U.S. rail traffic.
• Canadian Pacific Kansas City (CPKC)coreOthers · 29 July 2026CPKC is a major Class I railroad resulting from the Canadian Pacific-Kansas City Southern merger. CPKC filed replies and letters in the UP-NS merger proceedings before the STB.
• Canadian National Railway Company (CNI)coreOthers · 27 July 2026CN entered into two memorandums of understanding with Union Pacific granting CNI additional operating rights and Midwest access, contingent on CNI no longer opposing the pending UNP-NSC merger, which the STB is reviewing.
• Class I Railroads (BNSF, CN, CP, CPKC, CSX, NS, UP)coreOthers · 22 July 2026STB requires Class I rail carriers to provide weekly reports containing data on rail service performance, including system average train speed, terminal dwell time, car online data, grain and coal train performance, and carload originated data.
• Gateway International Rail Park / Kraus DevelopmentminorOthers · 23 June 2026Gateway International Rail Park announced formation of the Laredo Gateway Industrial Railway (LGIR), a new approximately 2.6-mile railway platform approved by the STB after a 15-month process. Jointly developed by Kraus Development and Ironhorse Resources.
• Ironhorse ResourcesminorOthers · 23 June 2026Co-developer of the Laredo Gateway Industrial Railway (LGIR) with Kraus Development. The LGIR will interchange with Union Pacific Railroad's mainline.

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Federal Energy Regulatory Commission: FERC regulates interstate energy transmission including natural gas pipelines and electric transmission—analogous infrastructure network economic regulation to STB's freight rail oversight. Both are independent federal agencies with statutory authority over network industries.
• Federal Railroad Administration: FRA is the sister federal agency within DOT that regulates railroad safety, complementing STB's economic regulation of freight rail. Both agencies share jurisdiction over Class I railroads and coordinate on rail policy, making FRA the most directly comparable peer.
• Federal Aviation Administration: FAA regulates aviation safety and air traffic control, with economic aspects overlapping with transportation regulation. Both agencies operate within the transportation sector with federal authority over industry structure and operations.
• Pipeline and Hazardous Materials Safety Administration: PHMSA regulates pipeline safety and hazardous materials transport, overlapping with FERC's economic pipeline regulation. PHMSA's dual relationship with FERC mirrors FRA's dual relationship with STB in the rail sector.
• Maritime Administration: MARAD promotes and regulates the US maritime industry, including oversight of water carriers that also fall under STB jurisdiction. Both agencies address surface and waterborne freight transportation from complementary regulatory perspectives.
• National Transportation Safety Board: NTSB investigates transportation accidents across all modes including rail. While focused on investigation rather than economic regulation, NTSB shares STB's federal transportation oversight mandate and coordinates on rail safety and incident matters.
• Federal Motor Carrier Safety Administration: FMCSA regulates commercial motor carriers (trucking), which competes with and complements freight rail. STB's data shows proposed rail mergers could remove 2-2.2 million truckloads from highways, making FMCSA a natural peer in surface freight transportation regulation.

Others

• Securities and Exchange Commission: SEC is an independent federal regulatory agency whose structure—appointed commissioners, administrative proceedings, filing-based public participation—closely parallels STB's operational model, though in a completely different industry sector (financial markets vs. transportation).
• Nuclear Regulatory Commission: NRC is an independent federal regulatory agency with statutory licensing authority, public hearing processes, and technical data publication requirements analogous to STB's merger review and data publication functions, though in the nuclear power sector.

Broad incumbents

• Federal Communications Commission: FCC regulates communications infrastructure with similar independent agency structure to STB, including statutory authority, administrative law judge processes, and public participation requirements. FCC provides a model for how independent federal regulators operate across different industries.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/STB_Newsroom
• LinkedInlinkedin.com/company/us-surface-transportation-board
• Facebookfacebook.com/profile.php

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Surface Transportation Board