For only the second time in the last eight weeks, US coal carload originations ticked higher on the week to 46,863 in the week that ended May 23, up 2.4% from the 10-year low 45,756 a week earlier, but 41.1% lower than a year ago, the Association of American Railroads said Wednesday.
The latest total was also down from the five-year average of 79,597 and was the lowest for the corresponding week in over 10 years.
Coal carloads represented 10.9% of all the traffic on US railways, down from 11% a week earlier and 14.6% in the year-ago week, according to the data.
Since January 1, cumulative coal carloads are at 1.22 million, down 25.7% from the same period a year ago.
Coal originations on Canadian railroads – including the US operations of Canadian National, which serves several mines in the Illinois Basin – totaled 6,267 carloads, up 3.1% from the prior week but 25% lower than the year-ago week.
Of the four major Class I railroads -- Norfolk Southern, CSX, Union Pacific and BNSF -- BNSF and Union Pacific were the only two to see a week-on-week increase. However, all four saw yearly decreases.
BNSF reported a six-week high 21,926 coal carload originations and interchanges in the latest week, up 14% from the prior week but 34.7% lower than in the year-ago week, according to rail-reported data. It was the highest weekly increase since a 14.4% increase in the week ended August 31, 2019.
So far in 2020, total BNSF carloads are up to 554,088, down 20.2% from the same period a year earlier.
Union Pacific reported 13,127 coal carload movements in the most recent week, up 2% from the previous week but 27.2% lower year on year.
Cumulative coal carloads so far in 2020 for UP are at 295,034, down 25% from the same period a year ago.
CSX coal carloads fell to over a 10-year low 8,064, down 8% on the week and 48.9% lower than the year-ago week.
Since January 1, CSX coal carloads have totaled 246,431, down 25.9% from a year ago.
Norfolk Southern also reported a 10-year low 6,270 coal cars loaded in the latest week, down 17.8% from the prior week and down 67.4% on the year.
Total coal carloads for NS are at 223,875 since January 1, down 41.8% from the same period a year ago.
Source: Platts |
