Canadian National Railway Retains Lead in Week 32
CNI’s railcars in week 32
The carload growth for Canadian National Railway (CNI) continued in the week ended August 12, 2017. CNI is a star performer in freight growth among all the Class I peers in 2017 to date.
In the 32nd week of 2017, Canadian National Railway registered a 5.8% rise in carloads to ~60,000 from ~56,500 railcars in the corresponding week last year. Even though carloads excluding coal and coke gained 6.7%, the coal and coke railcars fell 2.5%. Railcars excluding coal and coke were 54,500 compared to 51,000 in the comparable week last year. The company’s coal and coke carloads fell from 5,500 railcars to 5,350 units in week 32 of 2017.
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Canadian National Railway’s railcar volume growth was in line with the rise reported by Canadian railroads. However, compared with US railroads, the company outpaced the railcar growth in percentage in week 32.
Intermodal volumes in week 32
Canadian National’s intermodal volume growth in percentage has been generally higher compared with railcars in 2017 so far. CNI’s intermodal volumes rose 24% in week 32. Canadian National Railway’s intermodal traffic comes only from containers. In week 32 of 2017, the company hauled 53,000 plus containers compared to 43,000 units in the 32nd week last year.
Canadian National Railway leads the Class I railroads in intermodal growth too. Berkshire-controlled BNSF Railway (BRK-B) is second among peers in this category.
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In the next part, we’ll discuss Canadian Pacific Railway (CP).