Where CNI’s Intermodal Growth Stands Among Peers in Week 27?
CNI’s intermodal traffic last week
The intermodal volumes of Canadian National Railway (CNI) has displayed robust growth in 2017. CNI’s intermodal traffic, as represented by containers, rose 14.1% in the week ended July 8, 2017. There was no movement of trailers during the week.
The company hauled 47,000 containers in the 27th week of 2017, compared with ~41,000 containers in the same week last year. CNI’s overall intermodal growth last week was far ahead of the intermodal growth reported by US and Canadian railroads overall.
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Rival Canadian Pacific (CP) reported a loss of 7% in this category, and CP’s intermodal volume gain by percentage has remained below CNI’s gain throughout 2017 so far. This shows that in Canada, CNI has seen some market share gains over CP.
Canadian National’s volume mix
In 2016, Canadian National Railway had around 14% of the market share of originated Class I North American rail traffic. This makes the company the fifth-largest carrier in North America. Note that nearly 55% of CNI’s total originated traffic is for commodities. Major commodities included in its traffic were chemicals, metallic ores, and metal carloads.
The remaining 45% of originated traffic comes from intermodal. CNI’s intermodal growth has been fueled by its sole access to the Port of Prince Rupert, one of the most-trafficked ports in Canada. Canadian National Railway leverages from shippers extensively, using the Port of Prince Rupert as an alternative for cargo moving to the US Midwest.
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Continue to the next and final part of this series for an update on Canadian Pacific.