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6/6/2024
U.S. railroads hauled 2,342,04 carloads, containers and trailers in May, a 1% increase in traffic compared with volumes in May 2023, according to Association of American Railroads data.
The railroads originated 1,060,801 carloads, a 6% decrease, and 1,281,248 containers and trailers, a 7.6% increase.
Twelve of the 20 carload commodity categories that AAR tracks every month posted gains in May. They included petroleum and petroleum products, up 15.4%; chemicals, up 3.2%; and grain, up 4.7%.
Commodities that logged decreases last month included coal, down 22%; crushed stone, sand and gravel, down 11.4%; and primary metal products, down 7.2%.
"At first glance, rail traffic in May seems to display mixed signals,” said AAR Chief Economist Rand Ghayad in a press release. “While coal’s continued decline has led to a decrease in total carloads, a closer examination reveals that carloads (excluding coal) increased for the fourth consecutive month.”
Although it’s unlikely that there will be a reversal in coal’s overall traffic trends, other commodities — such as intermodal traffic and petroleum — hold more potential, he said.
“In May, intermodal traffic spiked, maintaining its upward trajectory over several months,” said Ghayad. “This surge reflects both increased port activity and intensified efforts by railroads to compete in a fiercely competitive market.”
Solid gains also were posted in the petroleum products, chemicals and grain commodity categories, he noted.