(Source: Genesee & Wyoming press release, August 13, 2012)
GREENWICH, Conn. — Genesee & Wyoming Inc. (GWI) today reported traffic volumes for July 2012. GWI’s traffic in July 2012 was 80,858 carloads, a decrease of 4,341 carloads, or 5.1 percent, compared with July 2011.
The table on the GWI website (see link above) sets forth consolidated carloading information for July 2012 and July 2011. Additional carload information for GWI’s North American and Australian operations is included as an exhibit to this press release.
Excluding 2,893 carloads from GWI railroads acquired within the last 12 months, same-railroad traffic in July 2012 decreased 7,234 carloads, or 8.5 percent, compared with July 2011. GWI’s other commodity group traffic decreased 4,568 carloads primarily due to no overhead coal shipments in GWI’s Ohio Region in July 2012. Minerals & stone traffic decreased 2,324 carloads primarily due to reduced rock salt shipments in GWI’s New York/Pennsylvania Region as a result of warm winter weather. Farm & food products traffic decreased 2,123 carloads primarily due to reduced shipments in GWI’s Australia and Illinois Regions. The shipment decline in the Australia Region was primarily due to an accelerated shipping schedule earlier in 2012. The shipment decline in the Illinois Region was primarily due to elevated traffic in 2011 associated with carloads diverted around flooding in the Midwest. Metals traffic decreased 1,178 carloads primarily due to reduced shipments in GWI’s Southern Region, where an expected maintenance outage affected shipment volumes in the month. All remaining traffic increased by a net 2,959 carloads.
Carload Reporting for Metallic Ores Traffic
Effective January 1, 2012, a portion of GWI’s metallic ores commodity group includes intermodal containers as a result of a change in rail logistics and equipment for a customer in GWI’s Australia Region. The impact of this change increased traffic by 538 carloads in July 2012.
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.
GWI owns and operates short line and regional freight railroads and provides railcar switching services in the United States, Australia, Canada, the Netherlands and Belgium. In addition, we operate the Tarcoola to Darwin rail line, which links the Port of Darwin to the Australian interstate rail network in South Australia. Operations currently include 66 railroads organized in 10 regions, with more than 7,600 miles of owned and leased track and approximately 1,400 additional miles under track access arrangements. We provide rail service at 17 ports in North America and Europe and perform contract coal loading and railcar switching for industrial customers.