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N American rail freight falls 17.3pc for single week ending June 4
NORTH American rail freight for the week ending June 4 fell 17.3 per cent year on year to 455,346 railcars, according to the American Association of Railroads.
Carloads for the week were 224,258, down 16.6 per cent year on year while US weekly intermodal volume was down 17.9 per cent to 231,088 containers, reported American Shipper.
The drop in US coal production as utilities switch to cleaner-burning, and cheap, natural gas has put a big dent in carload volumes, low oil prices have slowed production in US shale oil fields that primarily utilise rail to move to market, and the sluggish economy and trade volumes have helped keep intermodal volumes down, analysts say.
Commodity groups that posted decreases compared with the same week in 2015 included petroleum and petroleum products, down 29 per cent to 9,706 carloads; coal, down 23 per cent to 68,008 carloads; and motor vehicles and parts, down 21 per cent to 15,411 carloads.
For the first 22 weeks of 2016, US railways reported cumulative volume of 5,274,449 carloads, down 13.7 per cent from the same point last year; and 5,648,851 intermodal units, down 2.1 per cent from last year.
Carloads for the week were 224,258, down 16.6 per cent year on year while US weekly intermodal volume was down 17.9 per cent to 231,088 containers, reported American Shipper.
The drop in US coal production as utilities switch to cleaner-burning, and cheap, natural gas has put a big dent in carload volumes, low oil prices have slowed production in US shale oil fields that primarily utilise rail to move to market, and the sluggish economy and trade volumes have helped keep intermodal volumes down, analysts say.
Commodity groups that posted decreases compared with the same week in 2015 included petroleum and petroleum products, down 29 per cent to 9,706 carloads; coal, down 23 per cent to 68,008 carloads; and motor vehicles and parts, down 21 per cent to 15,411 carloads.
For the first 22 weeks of 2016, US railways reported cumulative volume of 5,274,449 carloads, down 13.7 per cent from the same point last year; and 5,648,851 intermodal units, down 2.1 per cent from last year.
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