(The Associated Press circulated the following on September 9, 2009.)
GREENWICH, Conn. — Regional freight railroad operator Genesee & Wyoming Inc. said August traffic fell 3.5 percent as shipments of pulp and paper, metals, and lumber all declined.
Genesee & Wyoming said on Tuesday it moved 66,057 carloads in August, down from 68,442 carloads in August 2008.
Shipments of pulp and paper fell 28.2 percent to 7,225 carloads. Lumber and forest product shipments fell 16.2 percent to 5,855 carloads. And shipments of metals dropped 28.7 percent to 5,730 carloads.
Shipments of coal, coke and ores make up about a quarter of the railroads traffic, and they declined only slightly.
The overall drop-off would have been worse if not for railroads acquired in the past year, which accounted for 10,156 of its carloads in August 2009. Counting only railroads owned by Genesee & Wyoming a year ago, carloads fell 18.3 percent.
The company’s shares rose 24 cents to $31.93 in morning trading.