Canadian Pacific Railway’s Freight Traffic Was a Mixed Bag in Week 32
Canadian Pacific’s railcar traffic
Canadian Pacific Railway (CP) is the second largest freight rail in Canada. In the week ended August 12, 2017, CP’s railcar volumes were up 5.9%. The company moved around 31,000 railcars in the 32nd week of 2017 compared to ~29,000 railcars in the same week last year.
Canadian Pacific Railway saw higher volumes in carloads excluding coal, as well as coal carloads. CP’s railcars excluding coal and coke expanded 5.3% to over 24,000 in week 32 of 2017 from 23,000 plus units a year ago. The coal carloads rose 8.5% to 6,300 in the reported week of 2017 compared to 5,800 units in week 32 last year.
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In the 32nd week of 2017, the percentage growth of CP’s railcars was in line with the rise reported by Canadian railroads. However, it was much above the growth registered by US railroads in the same week.
CP’s intermodal volumes
Unlike railcars, Canadian Pacific Railway registered a 4.1% decline in its intermodal traffic in the week ended August 12, 2017. The company’s intermodal traffic was ~19,000 containers and trailers in the same week compared with ~20,000 units in the comparable week last year.
In week 32, Canadian Pacific Railway reported intermodal volume loss in contrast with average Canadian and US railroad growth in the same category.
Vanguard Total International Stock ETF (VXUS) includes Canadian Pacific Railway in its portfolio. Among VXUS’s top foreign holdings are Taiwan Semiconductor Manufacturing (TSM), Vodafone Group (VOD), and BP (BP).
Next, we’ll discuss Genesee & Wyoming’s (GWR) North American freight data.