Genesee & Wyoming originated 80,454 carloads in November, up 9.7% year-over-year; pulp, paper carloads rose 1.3% to 7,617 while chemicals, plastics carloads rose 8.1% to 5,413
December 13, 2011
– Genesee & Wyoming Inc. (GWI) (NYSE: GWR - News) today reported traffic volumes for November 2011.
GWI’s traffic in November 2011 was 80,454 carloads, an increase of 7,089 carloads, or 9.7 percent, compared with November 2010. GWI’s traffic in the fourth quarter of 2011 through November was 164,785 carloads, an increase of 17,553 carloads, or 11.9 percent, compared to the fourth quarter of 2010 through November.
GWI’s North American and Australian operations is included as an exhibit to this press release.
Excluding 15,174 carloads from the FreightLink Acquisition(1) and 2,520 carloads from AZER, same-railroad traffic in the fourth quarter of 2011 through November decreased 141 carloads, or 0.1 percent, compared with the fourth quarter of 2010 through November. The traffic decrease was principally due to a decrease of 4,598 carloads of coal & coke traffic, partially offset by an increase of 3,010 carloads of metals traffic. All remaining traffic increased by a net 1,447 carloads.
Carload Reporting for Huron Central Railway
The carloads in this press release include traffic from the Huron Central Railway (HCRY) as follows: 1,426 carloads in November 2011, 1,292 carloads in November 2010, 2,754 carloads in the fourth quarter of 2011 through November and 2,710 carloads in the fourth quarter of 2010 through November. On June 15, 2009, GWI announced its intent to discontinue operations of HCRY. After negotiations with certain customers and government entities, HCRY entered into an interim agreement to continue operations. Because of the nature of the temporary agreement, during this interim period, which lasted from August 15, 2009 through December 31, 2010, GWI did not include HCRY’s carloads in its monthly carloading press release. On January 1, 2011, HCRY started operating under a new agreement with certain customers and GWI resumed including HCRY traffic in its monthly carloading press release. To facilitate comparison to the prior year in this press release, GWI has included HCRY carloads from November 2010 and the fourth quarter of 2010 through November which were not previously included in the press release for the same period in 2010.
Carload Reporting After FreightLink Acquisition
Since acquiring FreightLink, GWI is reporting two new commodity groups, Intermodal and Metallic Ores. Intermodal units included in freight revenues are reported consistent with the Association of American Railroads (AAR) convention. Previously, Intermodal traffic was reported on a carload basis and included in the Other commodity group. The change in reporting intermodal traffic on a unit basis rather than on a carload basis increases previously reported November 2010 volume by an additional 212 carloads and the fourth quarter of 2010 through November by an additional 415 carloads. Metallic Ores traffic had previously been included in three commodity groups: Coal, Coke & Ores, Minerals & Stone and Metals commodity groups.
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 with the Australian interstate rail network in South Australia. Operations currently include 64 railroads organized in 10 regions, with more than 7,500 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.
(1) On December 1, 2010 GWI purchased certain assets from FreightLink Pty Ltd (receivers and managers appointed) (FL), Asia Pacific Transport Pty Ltd (receivers and managers appointed) (APT) and the other APT joint venture sellers (together with FL and APT, “FreightLink Acquisition” or "FreightLink")
Genesee & Wyoming Inc.
by Commodity Group
Coal & Coke
Minerals & Stone
Farm & Food Products
Pulp & Paper
Chemicals & Plastics
Lumber & Forest Products
Autos & Auto Parts
* - Represents intermodal units
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