Genesee & Wyoming Inc. today reported traffic volumes for January 2011. GWI owns and operates short line and regional freight railroads in the United States, Canada, Australia and the Netherlands. Operations currently include 63 railroads organized in nine regions, with approximately 7,400 miles of owned and leased track and approximately 1,800 additional miles under track access arrangements.
GWI’s traffic in January 2011 was 82,735 carloads, an increase of 17,579 carloads, or 27.0 percent, compared with January 2010.
The table below sets forth consolidated carloading information for January 2011 and January 2010.
|Genesee & Wyoming Inc.|
|by Commodity Group||January||January|
|Coal & Coke||18,863||16,369||15.2%|
|Minerals & Stone||9,964||9,337||6.7%|
|Farm & Food Products||9,795||6,720||45.8%|
|Pulp & Paper||8,620||6,978||23.5%|
|Lumber & Forest Products||5,200||4,753||9.4%|
|Chemicals & Plastics||4,866||4,240||14.8%|
|Autos & Auto Parts||877||808||8.5%|
|* – Represents intermodal units|
Excluding 5,826 carloads from the FreightLink Acquisition, which closed in December 1, 2010, same-railroad traffic in January 2011 increased 11,753 carloads, or 18.0 percent, compared with January 2010. The increase was principally due to a 3,075 carload increase in farm & food products, primarily in GWI’s Australia Region, and a 2,494 carload increase in coal & coke traffic, primarily in GWI’s New York/Ohio/Pennsylvania and Illinois Regions. All remaining traffic increased by a net 6,184 carloads.
The carloads include 1,375 carloads in January 2011 and 1,162 carloads in January 2010 from the Huron Central Railway. On June 15, 2009, GWI announced its intent to discontinue operations of HCRY. After negotiations with certain customers and government entities, HCRY entered into an interim agreement to continue operations. Because of the nature of the temporary agreement, during this interim period, which lasted from August 15, 2009 through December 31, 2010, GWI did not include HCRY’s carloads in its monthly carloading press release.
On January 1, 2011 HCRY started operating under a new agreement with certain customers and GWI has resumed including HCRY traffic in its monthly carloading press release. To facilitate comparison to the prior year, GWI has included HCRY carloads from January 2010 which were not previously included in the data for the same period in 2010.
Since acquiring FreightLink, GWI is reporting two new commodity groups, Intermodal and Metallic Ores. Intermodal units included in freight revenues are reported consistent with the Association of American Railroads convention. Previously, intermodal traffic was reported on a carload basis and included in the Other commodity group. The change in reporting intermodal traffic on a unit basis rather than on a carload basis increases previously reported January 2010 volume by an additional 132 carloads. Metallic Ores traffic had previously been included in three commodity groups: Coal, Coke & Ores, Minerals & Stone and Metals.
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. Car movements related to railcar switching, including activities at port terminals, are excluded from our carload information as the resulting revenues are classified as non-freight.