CSX - U.S. weekly rail traffic declines intermodal volumes on the upside

The Association of American Railroads ((AAR)) reports total weekly US rail traffic down 1.3% Y/Y to 521,956 carloads and intermodal units for the week ending Sept. 19, 2020.Total intermodal volume was 295,269, up 6.3%, offsetting the carloads volume decline of 9.6% to 226,687.Three of the 10 carload commodity groups posted an increase that includes grain (+3,059 carloads), motor vehicles and parts (+1,539 carloads) and farm products (+733 carloads). However, coal, non-metallic minerals, and metallic ores and metals continued to be the carload commodities with major decline.Rail Traffic for the first 38 weeks of 2020: United States- 17,565,112 (-10.9% Y/Y); Canadian railroads- 5,316,735 (-7.9% Y/Y); Mexican railroads- 1,311,906 (-9.7% Y/Y).The U.S. Department of Transportation forecasts that total demand for U.S freight movement will rise 30% to 24.1B tons in 2040. Related Tickers: Canadian National Railway (CNI), Canadian Pacific Railway (CP), CSX Corp. (CSX), Kansas City Southern (KSU), Norfolk Southern (NSC), Union Pacific (UNP), and Genesee & Wyoming (GWR).

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U.S. weekly rail traffic declines, intermodal volumes on the upside