How Canadian Pacific Railway’s Volumes Stacked up to Peers in Week 39
Canadian Pacific’s railcar traffic last week
Calgary-headquartered Canadian Pacific Railway (CP) reported a 10.1% gain in railcar volumes, reaching 35,000 units last week, the 39th week of 2017 (ended September 30), compared with 32,000 railcars in the week ended October 1, 2016.
Carloads excluding coal (TCK) and coke accounted for ~83% of CNI’s total carloads, while coal accounts for the rest. Carloads other than coal and coke expanded 10.8% to ~29,000 units in the 39th week of 2017, up from ~26,000 units in the same week last year. The coal and coke railcars reported a 7.1% volume rise last week to ~6,000 carloads, up from 5,500 units last year.
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Notably, Canadian Pacific Railway registered carload growth last week, in contrast with arch-rival Canadian National Railway. CP’s rise in railcar volumes was also in contrast with the dip reported by US railroads during the same week.
Changes in commodity groups
The following commodity groups pushed CP’s volumes last week:
- fertilizer and sulfur
- forest products
- energy, chemicals, and plastics
- metals, minerals and consumer products
CP reported a volume loss in automotive last week (TSLA).
CP’s intermodal volumes last week
Unlike its growth in railcar volumes, Canadian Pacific Railway witnessed a minor decline in intermodal volumes in the 39th week of 2017. CP hauled nearly 21,000 containers and trailers last week, almost equaling last year’s intermodal traffic.
Canadian Pacific Railway’s intermodal volume growth in 2017 has so far been lower than that of rival Canadian National Railway. However, the rise in CP’s intermodal traffic was higher than those of its US peers.
In this series, we’ve examined the freight traffic of all the Class-I railroads (UNP) in North America for the 39th week of 2017 (ended September 30).
For ongoing updates on key US rail stocks, please visit Market Realist’s Railroads page.