U.S. rail carloads showed strength in 19 of 20 commodity categories in June. Second-quarter intermodal traffic climbed 22% even with network congestion and equipment shortages as the backdrop.
Rail traffic continued to build through June. U.S. intermodal traffic was only off 5% year-over-year in week 26.
The active railcar fleet fell by 25% in May. Multiple headwinds face railcar demand, but volumes may be turning a corner.
Canadian National reports operations have returned to “normalized” levels after an eight-day work stoppage.
Canadian National’s grain shipments gain momentum with eight-day strike in the rearview.
Carloads on the railroads remained under water in the first week of the fourth quarter 2019. Intermodal weakness will be in the spotlight as third quarter earnings season approaches.
Heading into earnings season, the railroads clearly have a revenue headwind as carloads declined again in the latest week.
