US weekly railroad traffic drops 2.9% as workers strike factored-in

  • The Association of American Railroads (AAR) reported Wednesday a 2.9% year-over-year decline in US weekly traffic to 490,654 carloads and intermodal units, for the week ending Sept. 17, 2022.
  • Total carloads for the week were 239,528, up 2% while intermodal volume declined 7.3% to 251,126 containers and trailers.
  • 5 of the 10 commodity posted growth during the week which included coal, up 5.7% to 72,774 carloads; chemicals up 6.3% to 32,977; nonmetallic minerals, up 7.6% to 35,163; and motor vehicles and parts, up 18.7% to 13,879 carloads.
  • Overall, North America weekly rail traffic dropped 0.8% Y/Y to 683,629 carloads and intermodal units, reflecting the combined volumes of U.S., Canadian and Mexican railroads.
  • That is, Canadian railroads reported 3.7% increase to 81,350 carloads with 75,196 intermodal units, up 0.6% percent compared with the same week in 2021. Mexican railroads rose 22.1% to 21,156 and intermodal volume up 18% to 15,273 units.
  • On Sept. 15, Railway workers and companies reached tentative labor agreement that would avert a strike, the Department of Labor said.
  • Rail workers will get better pay and improved working conditions, while companies will be able to retain and recruit more workers, President Joe Biden said in a statement.
  • Related: BNSF Railway (NYSE:BRK.A) (BRK.B), Brookfield Infrastructure Partners (NYSE:BIP), Canadian National Railway (CNI), Canadian Pacific (NYSE:CP), CSX Corporation (NASDAQ:CSX), Union Pacific (UNP), Norfolk Southern (NSC) and the iShares Transportation Average ETF (IYT).
  • Also Read: Fed takes "forceful and rapid" steps to moderate demand: Powell's press conference

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