The Latest on Canadian Pacific’s Freight Volumes
Canadian Pacific’s railcars
In this concluding part of our weekly North American freight rail series, we’ll turn to Canadian Pacific (CP). CP’s total freight traffic fell 1.3% YoY (year-over-year) in the week ended July 8, 2017. CP hauled nearly 29,000 railcars that week, which is similar to what we saw during the corresponding week of last year.
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Canadian Pacific’s carloads other than coal declined 0.6% to ~22,500 railcars. CP’s slump in railcar volumes was not in line with the rise reported by US and Canadian railroads overall last week.
As a result of its change in weekly carloads, we have included its intermodal traffic along with its railcar volumes in this series. In May 2017, CP stopped reporting domestic and international intermodal volumes separately.
Weekly changes in commodity groups
CP’s commodity groups with higher volumes in the week ended July 8, 2017, were:
- metals and minerals
- consumer products
The declining commodity groups were:
- forest products
- energy, plastic, and minerals
CP’s intermodal volumes
Canadian Pacific witnessed an intermodal traffic fall of 7% last week, with its total intermodal traffic sliding to ~17,000 containers and trailers, compared with ~18,000 units in the same week of 2016.
On the intermodal front, CP lags behind US and Canadian railroads, which reported volume gains in the 27th week of 2017.
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This railroad series has included the freight rail data for all the US Class I railroads for the 27th week of 2017 (ended on July 8). For ongoing updates on the railroad sector, please visit Market Realist’s Railroads page.