Source: Genesee & Wyoming Inc (Press Release)Genesee & Wyoming Inc. today reported traffic volumes for November 2009.
GWI's traffic in November 2009 was 62,977 carloads, a decrease of 8,522 carloads, or 11.9 percent, compared with November 2008. GWI's traffic in the fourth quarter of 2009 through November was 125,554 carloads, a decrease of 26,308 carloads, or 17.3 percent, compared with the fourth quarter of 2008 through November.
The table below sets forth carloading information for November 2009 and November 2008:
Genesee & Wyoming Inc. November % of November % of by Commodity Group 2009 Total 2008 Total
Coal, Coke & Ores 16,550 26.3% 18,267 25.6%
Minerals & Stone 10,533 16.7% 12,351 17.3%
Pulp & Paper 6,493 10.3% 8,480 11.9%
Farm & Food Products 6,271 10.0% 7,601 10.6%
Metals 5,044 8.0% 5,240 7.3%
Lumber & Forest Products 4,677 7.4% 5,381 7.5%
Chemicals-Plastics 3,957 6.3% 3,929 5.5%
Petroleum Products 2,275 3.6% 2,266 3.2%
Autos & Auto Parts 798 1.3% 732 1.0%
Other 6,379 10.1% 7,252 10.1%
Total 62,977 100.0% 71,499 100.0%
Pulp & paper traffic decreased 1,987 carloads. Minerals & stone traffic decreased 1,818 carloads primarily due to lower shipments in GWI's New York/Ohio/Pennsylvania, Rail Link and Southern Regions. Coal, coke & ores traffic decreased 1,717 carloads primarily due to lower shipments in GWI's New York/Ohio/Pennsylvania and Illinois Regions. All other traffic decreased by a net 3,000 carloads.
The table below sets forth carloading information for the fourth quarter of 2009 through November and the fourth quarter of 2008 through November:
Genesee & Wyoming Inc. QTD Nov % of QTD Nov % of by Commodity Group 2009 Total 2008 Total
Coal, Coke & Ores 31,075 24.7% 39,418 26.0%
Minerals & Stone 22,920 18.3% 27,079 17.8%
Pulp & Paper 13,310 10.6% 18,413 12.1%
Farm & Food Products 11,065 8.8% 13,014 8.6%
Metals 10,639 8.5% 12,168 8.0%
Lumber & Forest Products 10,021 8.0% 12,324 8.1%
Chemicals-Plastics 8,079 6.4% 8,456 5.6%
Petroleum Products 4,447 3.5% 4,567 3.0%
Autos & Auto Parts 1,626 1.3% 1,614 1.1%
Other 12,372 9.9% 14,809 9.7%
Total 125,554 100.0% 151,862 100.0%
The traffic decrease in the fourth quarter of 2009 through November compared to the fourth quarter of 2008 through November was principally due to declines of 8,343 carloads of coal, coke & ores traffic, where an expected maintenance outage at a power generation facility in Illinois reduced traffic volume in October 2009, 5,103 carloads of pulp & paper traffic, and 4,159 carloads of minerals & stone traffic. All other traffic decreased by a net 8,703 carloads.
On June 15, 2009 GWI announced its intent to discontinue operations of its Huron Central Railway (HCRY) in the fourth quarter of 2009. GWI now operates HCRY under a temporary service contract through August 14, 2010. Starting in August 2009 HCRY carloads are no longer included in this press release due to the structure of this temporary contract. To facilitate comparison to the prior year, GWI has excluded 1,226 total HCRY carloads from November 2008 and 2,391 carloads from the fourth quarter of 2008 through November in this press release. However, carloads reported in GWI's Form 10-K will include HCRY traffic for all of 2008.
Historically, GWI has found that carload information may be indicative of freight revenues on its railroads, but may not be indicative of total revenues, operating expenses, operating income or net income.
GWI owns and operates short line and regional freight railroads in the United States, Canada, Australia and the Netherlands. Operations currently include 62 railroads organized in nine regions, with more than 6,000 miles of owned and leased track and approximately 3,000 additional miles under track access arrangements. GWI provides rail service at 16 ports in North America and Europe and performs contract coal loading and railcar switching for industrial customers.
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