What Led the Rise in Canadian Pacific’s Carloads Last Week?
Canadian Pacific’s carloads in the 45th week
Canada’s other major rail carrier, Canadian Pacific Railway (CP), registered a 5.2% rise in railcars last week (ended November 11), the 45th week of 2017. CP’s railcar volumes that week rose to ~32,500 units, compared with ~31,000 units in the week ended November 12, 2016.
This freight volume growth was pushed by a 12.2% rise in Canadian Pacific Railway’s carloads excluding coal (ARLP) last week. CP hauled ~25,000 units last week, while its coal traffic contracted ~25% to 4,500 railcars, down from ~6,000 units last year.
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Notably, Canadian Pacific Railway’s carload growth was higher than what US railroads (IYJ) reported overall but somewhat lower than what Canadian railroads reported for freight growth last week.
Commodity groups in the green and red zones
These commodity groups’ volumes were in the green zone for CP last week:
- potash (POT)
- energy, chemicals, and plastics
- metals, minerals, and consumer products
CP saw a loss in these commodity groups during the same week:
- fertilizer and sulfur
- forest products
- automotive (TSLA)
CP’s intermodal volumes
In line with the rise in railcar traffic, Canadian Pacific Railway posted a 5% rise in intermodal volumes in the 45th week of 2017, with intermodal containers and trailers totaling ~20,500, compared with 19,500 units during the same week last year.
Notably, CP’s intermodal traffic gains have been relatively higher than those of its US counterparts, though they were lower than the gains reported by Canadian railroads overall for the 45th week.
In this weekly US rail freight series on class-I railroads, we’ve examined the carloads and intermodal trends for the 45th week of 2017, ended November 11.
For ongoing updates on major US rail stocks, please keep checking in with Market Realist’s Railroads page.