(Source: Freight Waves, June 18, 2019)
CHATTANOOGA, Tenn. — Historic flooding in the Midwest and poor demand from electric utilities are stranding coal hoppers west of the Mississippi, pushing up prices for storing railcars. The American Association of Railroads said last week that weekly coal volumes were down 16 percent from a year earlier to 71,526. The week prior number of 70,737 railcars marked the second-lowest number of weekly loadings this year. The drop in coal usage comes as the Southeast enjoys some of the lowest natural gas prices in three years, according to the Federal Energy Regulatory Commission.
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