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How Genesee & Wyoming’s North American Freight Fared in March

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GWR’s North American carloads

North American operations contribute 60%–65% to Genesee & Wyoming’s (GWR) total operating revenue. In March, its North American carloads expanded 2.8% YoY (year-over-year) on a same railroad basis. Carloads from new railroads added 632 carloads to North American volumes.

On a reported basis, GWR’s carloads in that region grew 3.3% YoY in March. After a considerable period, its same railroad operations exhibited volume gains in two consecutive months ending in March.

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Coal traffic

Coal (ARLP) and coke carloads have remained a soft spot in Genesee & Wyoming’s North American freight volumes recently. The trend continued in March as its coal and coke carloads fell slightly by 0.15%. Coal and coke carloads were 19,600 units in March, which was almost on par with carloads in March 2017. Coal and coke carloads’ share in total North American carloads in March declined 0.4% to 13.8% from 14.2% a year ago.

However, carloads other than coal and coke rose 3.3% in March 2018. From ~118,400 carloads in March 2017, the company hauled ~122,300 units in March 2018. The share of carloads excluding coal and coke rose 0.4% to 86.2% in March compared with 85.8% in March 2017.

Changes in carload commodity groups

GWR reported higher volumes of the following commodity groups in March:

  • lumber and forest products
  • metals
  • minerals and stones
  • petroleum products (UNG)
  • pulp and paper products

These commodity groups posted lower volumes in March:

  • agricultural products (ADM)
  • auto and auto parts (TM)
  • chemicals and plastics
  • food and kindred products
  • metallic ores

In the next part of this series, we’ll look at GWR’s European and UK shipment trends in March.

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