uploads///Chart  CSX

Weak Intermodal Performance Hurt CSX’s Rail Traffic in Week 9

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Mar. 11 2019, Published 8:09 a.m. ET

Intermodal units

CSX’s (CSX) total rail traffic remained flat YoY (year-over-year) at 123,552 railcars in Week 9. During the week, all Class I railroad companies except Kansas City Southern (KSU) reported declines in their overall rail traffic. KSU reported a 1% improvement.

CSX’s weak rail traffic performance was mainly the result of a drastic fall in its intermodal volumes. The company’s intermodal unit volumes fell 3.7% YoY to 52,839 containers and trailers from 54,848 units. CSX’s container volumes fell 3.8% YoY to 50,797 units from 52,812 units. However, the company’s trailer traffic rose 0.3% YoY to 2,042 units from 2,036 units.

CSX’s intermodal unit decline was the lowest among all Class I railroad companies (IYT) in Week 9. Canadian National Railway (CNI) recorded the highest decline of 5.5%, while Union Pacific (UNP) registered the biggest gain of 3% in the week.

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Carload traffic

CSX’s carload traffic grew 2.9% YoY to 70,713 railcars (excluding intermodal units) from 68,704 railcars in Week 9. The company’s carload traffic growth was the second highest among Class I railroad companies after KSU’s 4.8% carload traffic growth.

CSX’s carload traffic excluding coal and coke, which accounted for 74% of its total carload traffic in Week 9, inched down 0.1% YoY to 52,052 railcars from 52,098 railcars. However, the company’s coal and coke traffic increased 12.4% YoY to 18,661 units compared to 16,606 units in Week 9 of the previous year.

The company registered volume gains in grain, farm products, forest products, nonmetallic minerals, motor vehicles and parts, metallic ore, coal, and coke products in Week 9. In the week, chemicals, petroleum, crushed stone, sand, lumber, and wood products registered lower volumes YoY.

Next, we’ll discuss Union Pacific’s rail traffic performance.

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