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GREENWICH, Conn. (AP) â¿¿ Regional freight railroad operator Genesee & Wyoming Inc. said Monday its January traffic fell 12 percent, pulled down by a more than 40 percent drop in coal and coke shipments.
The Greenwich, Conn.-based company said carloads dropped to 72,887 overall from 82,735 a year ago,
Excluding 1,412 carloads from the company's September acquisition of Arizona Eastern Railway and 264 carloads from the Hilton & Albany Railroad Inc., which began operations on Jan. 1, traffic at railroads operated for at least a year fell by 11,524 carloads, or 14 percent, from a year ago.
The company said the latest month's 7,584-carload drop in coal and coke traffic was mainly a result of lower shipments in the company's Illinois, New York and Pennsylvania and Mountain West Regions.
Genesee & Wyoming said that traffic at its "other" commodity group fell by 2,384 carloads, or 31 percent, mainly due to lower overhead coal shipments in the Ohio region. Intermodal traffic dropped by 1,145 units, or 25 percent, on lower shipments in Australia stemming from a bridge outage.
Those decreases were partially offset by a 1,245 carload, or 22 percent, increase in metals traffic due to steel and scrap shipments in the company's southern region, Genesee & Wyoming said.
Genesee & Wyoming shares rose 50 cents to $60.52 in morning trading.