CSX’s (CSX) total rail traffic volumes rose 1% YoY (year-over-year) to 122,833 units in week 7. The company’s rail volumes improved for the second consecutive week. CSX and Canadian National Railway (CNI) were the only Class I railroad companies (IYT) that reported traffic growth YoY in week 7.
CSX’s carload traffic grew 1.7% YoY to 68,348 railcars (excluding intermodal units) from 67,232 railcars. The company’s carload traffic growth was the third-highest growth among Class I railroad companies. Canadian National Railway reported the highest gain of 8% in carload traffic, while Canadian Pacific Railway (CP) was the worst performer with an 8% decline.
CSX’s carload traffic, excluding coal and coke, which accounted for 77% of its total carload traffic in week 7, rose 0.7% YoY to 52,464 railcars from 52,123 railcars. The company’s coal and coke traffic increased 5.1% YoY to 15,884 units from 15,109 units in week 7 of 2018.
CSX reported a volume increase across most of its commodity groups. The company registered double-digit volume gains in grain, farm, forest, wood, stone, clay, and glass products. Food, metals, chemicals, metallic ores, and coke registered YoY volume declines.
Intermodal traffic rebounded
After declining for three consecutive weeks, CSX’s intermodal traffic rebounded in week 7. The company’s intermodal volumes rose 0.1% to 54,485 units from 54,429 units. CSX’s container volumes fell 0.3% YoY to 52,228 units from 52,368 units, while its trailer traffic grew 9.5% YoY to 2,257 units from 2,061 units. Among the Class I railroad companies, Union Pacific (UNP) was the top performer with 2% growth.
In the first seven weeks of 2019, CSX reported cumulative volumes of 466,443 carloads—up 5.6% from the same period last year. However, the company’s intermodal units fell 3.6% YoY to 348,864 containers and trailers. CSX’s combined rail traffic in the first seven weeks of 2019 rose 1.4% YoY to 815,307 carloads and intermodal units—compared to the previous year.
Next, we’ll discuss Canadian Pacific Railway’s rail traffic performance.