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Why CSX’s Freight Volumes Fell in Week 46

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CSX’s carload volumes in Week 46

In the week ended November 18, 2017, Jacksonville-based CSX (CSX) reported a 4.7% fall in carload traffic from the week ended November 19, 2016. CSX’s carloads fell to 69,500 units in the 46th week of this year, from ~73,000 carloads in the corresponding week of 2016. The company’s volume loss was higher than the carload traffic loss reported by US railroads (XTN).

The company’s freight volumes fell due to a 5% fall in carloads other than coal (ARLP) and coke. CSX hauled 51,700 railcars, excluding coal and coke, in the 46th week of 2017, 2,700 fewer than last year. Coal and coke carloads fell 3.7% to 17,800 units from 18,500 units year-over-year.

Commodity groups’ ups and downs

These commodity groups posted volume gains in the 46th week:

  • crushed stone, sand, and gravel
  • metallic ores

These commodity groups posted volume losses in the 46th week:

  • grain
  • grain mill products
  • chemicals
  • petroleum and petroleum products
  • motor vehicles and parts (TSLA)

CSX’s intermodal traffic in 46th week

In the 46th week of 2017, CSX‘s volumes fell 2.9%, with a minor 0.7% fall in intermodal traffic. The company hauled around 56,000 containers and trailers, slightly lower than the levels seen the year prior.

Containers volumes fell 1% to 53,700 units from 54,300 units last year. CSX’s total intermodal traffic is dominated by containers, which comprise 96% of traffic. On the other hand, trailer traffic rose 9.4% to ~2,200 units from 2,050 units in the same week last year. The company’s overall freight volumes fell 3% in Week 46 of 2017, whereas Norfolk Southern’s rose 3.5%. Continue to the next part for an update on Kansas City Southern’s (KSU) freight traffic in Week 46.

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