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G&W takes 2Q hit on coal, ores

COAL was among the worst performers for large rail shipper Genesee & Wyoming in the June quarter,...

Donna Schmidt

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In its quarterly report the company said it had shipments totaling 232,315 carloads versus 249,508 loads in the same period last year.

Coal and coke dropped 12.9% year-on-year for June and 17% on the previous quarter.

Interestingly, metallic ores was the steam behind G&W’s momentum during the same timeframe, rising more than 40% versus 2011.

It ended out June on a down note, reporting a 12.9% drop for the month.

Same-railroad traffic was down 8.6% in the period when excluding 1242 carloads from the Arizona Eastern Railway and 121 loads from the Hilton and Albany Railroad.

G&W acquired the former last September 11 and the latter commenced operations at the beginning of this year.

Genesee & Wyoming owns and operates short-line and regional lines in the US, Canada, Australia, the Netherlands and Belgium.

It provides rail service at 17 ports in North America and Europe and has contract coal loading and railcar switching for industrial customers.

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