Canadian Pacific’s railcar traffic
Calgary-based Canadian Pacific Railway (CP) posted a marginal gain of 0.6% in its carload traffic in the week ended January 13, 2018, from 29,000 carloads in the week ended January 14, 2017, to 29,300 units. The company’s volume growth was in tune with that of US railroads but contrasted with the decline posted by Canadian railroads.
CP’s carloads, excluding coal (UGAZ), rose 1.2% in the second week of 2018 to 24,000 carloads. Other-than-coal carloads accounted for 82% of Canadian Pacific Railway’s total carloads, and the remaining comprised coal carloads. Coal volumes fell 1.8% to ~5,200 carloads in 2018 from 5,300 carloads in 2017. With a better coal production outlook for Canadian coal producers in 2018, coal transportations prospects have improved for Canadian railroads (CNI).
Changes in carload commodity groups
CP’s intermodal traffic in Week 2
Canadian Pacific Railway has been reporting consistently higher year-over-year intermodal traffic gains in the last few weeks, excluding the first week of 2018. In Week 2 of 2018, CP hauled 17,600 containers and trailers, compared with ~17,400 units in Week 2 of 2017. This year looks promising for US Class I railroads, as US industrial production has risen in recent months. US tax reform could also boost their top lines. For key updates on US Class I railroads, check out Market Realist’s Railroads page.