Intermodal Rail Volume Rises 4% for Week
Intermodal rail volume for the week ended Oct. 12 rose 4%, from the same period last year, the 15th consecutive rise, the Association of American Railroads reported.
Traffic increased to 260,839 trailers and containers, AAR said in its weekly report.
Rail carload traffic rose 0.1% to 285,372 year-over-year, the rail trade group said.
Seven of the 10 carload commodity groups tracked by AAR posted increases, led by petroleum and petroleum products, which increased 15.3%. Commodities showing a decrease included coal, which fell 4.9%.
For the first 41 weeks of the year, U.S. railroads moved 10 million intermodal containers and trailers, up 3.7% from last year. Carload traffic dipped 0.9% to 11.5 million units.
Total North American rail volume year-to-date for the 13 reporting U.S., Canadian and Mexican railroads totaled 15.4 million carloads, down 4% compared with the same point last year, and 12.7 million trailers and containers, up 3.7% compared with last year.
Union Pacific Corp. said Oct. 17, intermodal freight revenue in the third quarter was flat at $1 billion, and automotive revenue jumped 17% to $512 million. The company reported its third-quarter profit rose 10% despite lower coal and grain carloads in the quarter.
Revenue rose 4% to $5.57 billion, the Omaha, Neb.-based freight railroad said in a statement.
CSX Corp. reported revenue rose slightly to $3 billion from higher volume and pricing gains in merchandise and intermodal that offset declines in coal revenue. The Jacksonville, Fla.-based freight railroad reported third-quarter earnings rose to $463 million, or 46 cents a share, from $455 million, or 44 cents, a year ago.
