Canadian Pacific Railway (CP) registered a 7.7% YoY (year-over-year) decline in its total rail traffic in week 10. The company carried 48,329 railcars during the week—compared to 52,387 railcars in the same week last year.
Among the seven Class I railroad companies (XTN), six recorded lower volumes during week 10. Union Pacific (UNP) recorded the highest decrease of 10.8%. Kansas City Southern (KSU) was the only Class I railroad company that marked a YoY improvement of 2.9% in the rail traffic in week 10.
Canadian Pacific’s carload traffic fell 9.5% YoY to 28,619 railcars from 31,636 railcars in week 10 of 2018. Excluding coal and coke, which accounted for 82% of Canadian Pacific Railway’s total carload traffic in week 10, the total carload traffic fell 9.7% YoY to 23,610 railcars from 26,152 railcars. The company’s coal and coke traffic rose 8.7% YoY to 5,009 units from 5,484 units in week 10 of 2018.
Canadian Pacific Railway registered volume declines in grain, potash, fertilizer, sulfur, metals, minerals, automotive, and consumer commodity products. The company recorded volume growth across forest, energy, chemicals, and plastics products.
Canadian Pacific Railway’s intermodal volumes fell 5% YoY to 19,710 containers and trailers from 20,751 units. Except Norfolk Southern (NSC), all of the Class I railroad companies under review reported a decline in the intermodal traffic. Norfolk Southern’s intermodal traffic rose 1.7% in Week 10. CSX (CSX) was the worst performer with a decline of 7.8% YoY in its intermodal volumes.
During the first ten weeks of 2019, Canadian Pacific Railway reported cumulative volumes of 291,784 carloads—down 0.7% from the same period last year. The company’s intermodal unit volumes fell 2.9% YoY to 180,411 containers and trailers. Canadian Pacific Railway’s combined rail traffic in the first ten weeks of 2019 fell 1.5% YoY to 472,195 carloads and intermodal units compared to the previous year.
Next, we’ll discuss CSX’s rail traffic.