Canadian Pacific Kansas City was the fastest-growing railroad in the second quarter, with its overall volume up 6%.
CPKC’s (NYSE: CP) industry-leading growth was due to double-digit increases in intermodal (14%), grain (16%), and coal (10%), according to data from the Association of American Railroads.
Union Pacific (NYSE: UNP) ranked second for the quarter, with its volume up 4% overall, led by a 31% increase in coal traffic and a 16% bump in grain volume.
Norfolk Southern (NYSE: NSC) was third, with 3% growth for the quarter. Total 4% growth in merchandise traffic and a 13% gain in coal volume propelled NS’s gains.
BNSF Railway saw a 1.6% gain for the quarter. Coal volume was up 12%, leading all major traffic groups for the quarter.
CSX (NASDAQ: CSX) eked out a 0.5% volume gain, with intermodal up 2%, coal up 3.3%, and merchandise down 2%.
Canadian National’s (CN.TO) overall volume declined 1% for the quarter despite a 26% increase in grain traffic. Merchandise traffic sagged 4%, while coal volume was flat, and intermodal was up 1%.
Union Pacific (1%) and Norfolk Southern (4%) were the only Class I railroads to show growth in merchandise traffic.
Except for CPKC, intermodal growth was anemic: CSX and UP up 2%, CN and NS up 1%, and BNSF up 0.4%.
Four of the six systems also saw their coal traffic grow by double-digits during the quarter.
Overall, North American rail volume was up 3% for the quarter, with intermodal up 2%, merchandise down 1%, and coal and grain both up 6%.
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