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How CSX’s Carloads Compared with Industry Volumes in Week 6

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CSX’s carloads in the 6th week of 2018

Jacksonville-headquartered CSX (CSX) competes with Norfolk Southern (NSC) in the Eastern United States. In the sixth week of 2018 (ended February 10), CSX posted a 9% loss in carload traffic.

CSX moved 65,700 railcars in 2018, which was 5,900 railcars fewer than the 72,300 units it hauled during the same week last year. The decline in CSX’s carloads was significantly higher than the 0.5% fall we saw among US railroads overall in the sixth week. CSX’s volume loss was also far bigger than the loss posted by rival Norfolk Southern (NSC).

For CSX, coal (BTU) and coke carloads made up 24.9% of the company’s total carloads in 2018—up 1.3% from 23.5% during the previous year. Coal and coke carloads fell 3.9% to 16,300 units, compared with 17,000 units in the sixth week of last year.

The share of carloads excluding coal and coke among total carloads contracted 1.3% from 76.5% in 2017 to 75.1% this year. CSX’s carloads other than coal and coke fell 10.6%. The company moved 49,400 carloads in 2018, compared with 55,200 carloads in 2017.

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Progressing and regressing commodity groups

These carload commodity groups registered major gains in the sixth week of 2018:

  • stone, clay, and glass products
  • other carloads

The commodity groups wherein carload traffic declined included:

  • grain
  • grain mill products
  • chemicals
  • petroleum and petroleum products
  • motor vehicles and equipment
  • nonmetallic minerals

CSX’s intermodal volumes in the 6th week

In contrast with its carload traffic loss, CSX registered a marginal gain in intermodal volumes for the week. Intermodal traffic jumped 2.1% to 53,000 containers and trailers, up from 51,800 units during the same week last year.

Container volumes grew ~2% from 49,800 containers during the sixth week of last year to 50,900 containers in the sixth week of this year. Trailer traffic expanded 6.8%, reaching around 2,100 trailers this year, compared with 1,940 units in 2017.

CSX posted a 4.4% railcar traffic loss in the sixth week of 2018. This represented a complete departure from the 1.6% overall traffic gain reported by US railroads (IYT). The company has yet to win customers lost to rival Norfolk Southern, according to the data furnished in recent weeks.

Continue to the next part for an update on Kansas City Southern’s (KSU) freight volumes.

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