Tag: RailRoad

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North American rail traffic declined 3.4% last week

North American rail traffic down 3.4% for the week ending February 25

The Association of American Railroads, AAR reported U.S. rail traffic for the week ending February 25, as well as volumes for February 2023.

U.S. railroads originated 905,744 carloads in February 2023, down 1.6% or 15,101 carloads, from February 2022.

U.S. railroads also originated 943,979 containers and trailers in February 2023, down 8.4%, or 86,351 units, from the same month last year.

Combined U.S. carload and intermodal originations in February 2023 were 1,849,723, down 5.2%, or 101,452 carloads and intermodal units from February 2022.

“Coal, chemicals, and grain together account for more than half of all non-intermodal U.S. rail volume.

When all three are down, like they were in February, it’s very hard for total carloads not to be down too,” said AAR Senior Vice President John T. Gray.

“On the positive side, several commodities including crushed stone and sand, petroleum products, steel products, grain mill and food products showed very strong performances.”

Total U.S. weekly rail traffic was 459,233 carloads and intermodal units, down 5.9% compared with the same week last year.

Total carloads for the week ending February 25 were 226,435 carloads, up 0.1% compared with the same week in 2022, while U.S. weekly intermodal volume was 232,798 containers and trailers, down 11.1% compared to 2022.

North American rail volume for the week ending February 25 on 12 reporting U.S., Canadian and Mexican railroads totaled 327,221 carloads, up 2.9% compared with the same week last year, and 308,029 intermodal units, down 9.3% compared with last year.

Total combined weekly rail traffic in North America was 635,250 carloads and intermodal units, down 3.4%.

Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Kansas City Southern (KSU), Norfolk Southern (NSC), Union Pacific (UNP), Greenbrier (GBX), Trinity Industries (TRN), FreightCar America (RAIL) and Wabtec (WAB).

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This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

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City of Cincinnati gets $1.62B from Norfolk Southern

Norfolk Southern to purchase assets of Cincinnati Southern Railway

Norfolk Southern (NSC) announced the execution of a purchase agreement under which the company’s operating subsidiary, Norfolk Southern Railway Company, will acquire substantially all of the assets of the Cincinnati Southern Railway, an approximately 337 mile railroad that runs from Cincinnati, Ohio to Chattanooga, Tennessee.

The CSR is currently owned by the City of Cincinnati and operated by the Cincinnati, New Orleans and Texas Pacific Railway Company, a wholly owned subsidiary of Norfolk Southern Railway, under a lease agreement expiring in 2026.

The agreement provides the company ownership of approximately 9,500 acres of land that sits under infrastructure maintained and operated by Norfolk Southern.

Further, it ensures Norfolk Southern will own the line in perpetuity, while eliminating uncertainty around future lease costs.

The line is one of the highest density segments of the company’s network, with as many as 30 trains a day traveling the route.

Upon the close of the transaction, projected to occur in the first half of 2024, the City of Cincinnati will receive cash consideration of approximately $1.62B.

Norfolk Southern intends to finance the transaction through a combination of internal and external sources.

The City of Cincinnati plans to use the proceeds of the transaction to form an infrastructure fund that will benefit the citizens of Cincinnati for generations to come.

The trust would solely fund the rehabilitation, modernization, or replacement of existing infrastructure such as streets, bridges, municipal buildings, parks, and green space.

The closing is subject to certain conditions, including approval by the voters of Cincinnati and the U.S. Surface Transportation Board.

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Rail Traffic Declines as Growth Slows!

North American rail traffic down 1% for the week ending September 17

The Association of American Railroads, AAR, reported U.S. rail traffic for the week ending September 17. For this week, total U.S. weekly rail traffic was 490,654 carloads and intermodal units, down 2.9% compared with the same week last year.

Total carloads for the week ending September 17 were 239,528 carloads, up 2% compared with the same week in 2021, while U.S. weekly intermodal volume was 251,126 containers and trailers, down 7.3% compared to 2021.

Five of the 10 carload commodity groups posted an increase compared with the same week in 2021.

They included coal, up 3,948 carloads, to 72,774; nonmetallic minerals, up 2,491 carloads, to 35,163; and motor vehicles and parts, up 2,185 carloads, to 13,879.

Commodity groups that posted decreases compared with the same week in 2021 included metallic ores and metals, down 3,192 carloads, to 21,581; miscellaneous carloads, down 1,623 carloads, to 8,250; and forest products, down 1,362 carloads, to 9,076. North American rail volume for the week ending September 17, on 12 reporting U.S., Canadian and Mexican railroads totaled 342,034 carloads, up 3.5% compared with the same week last year, and 341,595 intermodal units, down 4.7% compared with last year.

Total combined weekly rail traffic in North America was 683,629 carloads and intermodal units, down 0.8%.

North American rail volume for the first 37 weeks of 2022 was 25,025,034 carloads and intermodal units, down 2.4% compared with 2021.

Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Kansas City Southern (KSU), Norfolk Southern (NSC), Union Pacific (UNP) and Trinity Industries (TRN), Greenbrier (GBX), FreightCar America (RAIL) and Wabtec (WAB).

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This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

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Rail Traffic Declined Last Week!

North American rail traffic fell 7.5% for the week ending April 16

The Association of American Railroads, AAR, reported U.S. rail traffic for the week ending April 16.

For this week, total U.S. weekly rail traffic was 489,801 carloads and intermodal units, down 8.1% compared with the same week last year.

Total carloads for the week ending April 16 were 221,228 carloads, down 6.8% compared with the same week in 2021, while U.S. weekly intermodal volume was 268,573 containers and trailers, down 9.2% compared to 2021. North American rail volume for the week ending April 16 on 12 reporting U.S., Canadian and Mexican railroads totaled 319,064 carloads, down 6.8% compared with the same week last year, and 354,060 intermodal units, down 8.1% compared with last year.

Total combined weekly rail traffic in North America was 673,124 carloads and intermodal units, down 7.5%.

North American rail volume for the first 15 weeks of 2022 was 9,987,458 carloads and intermodal units, down 3.9% compared with 2021.

Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Kansas City Southern (KSU), Norfolk Southern (NSC), Trinity Industries (TRN), Greenbrier (GBX), Wabtec (WAB), FreightCar America (RAIL), Union Pacific (UNP) and GATX (GATX).

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This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

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Rail Traffic Slowed down in January

North American rail traffic dropped 17.4% in week ended January 8

The Association of American Railroads, AAR, reported U.S. rail traffic for the week ending January 8.

For this week, total U.S. weekly rail traffic was 440,761 carloads and intermodal units, down 16% compared with the same week last year.

Total carloads for the week ending January 8 were 210,020 carloads, down 10.6% compared with the same week in 2021, while U.S. weekly intermodal volume was 230,741 containers and trailers, down 20.4% compared to 2021.

For the first week of 2022, U.S. railroads reported cumulative volume of 210,020 carloads, down 10.6% from the same point last year; and 230,741 intermodal units, down 20.4% from last year.

Total combined U.S. traffic for the first week of 2022 was 440,761 carloads and intermodal units, a decrease of 16% compared to last year.

North American rail volume for the week ending January 8, on 12 reporting U.S., Canadian and Mexican railroads totaled 288,324 carloads, down 13% compared with the same week last year, and 298,984 intermodal units, down 21.2% compared with last year.

Total combined weekly rail traffic in North America was 587,308 carloads and intermodal units, down 17.4%.

North American rail volume for the first week of 2022 was 587,308 carloads and intermodal units, down 17.4% compared with 2021.

Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Kansas City Southern (KSU), Norfolk Southern (NSC), Union Pacific (UNP), FreightCar America (RAIL),Trinity Industries (TRN) and Greenbrier (GBX).

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This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

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