GREENWICH, Conn. (AP) â¿¿ Regional freight railroad operator Genesee & Wyoming Inc. said Friday that its April traffic fell 5.6 percent, pulled down by a steep drop in overall coal and coke shipments and the absence of overhead coal shipments in the Ohio region.
The Greenwich, Conn.-based company said carloads dropped to 77,626 overall from 82,190 a year ago.
Excluding 1,274 carloads from the company's September acquisition of Arizona Eastern Railway and 196 carloads from the Hilton & Albany Railroad Inc., which began operations on Jan. 1, traffic at railroads operated for at least a year fell by 6,034 carloads, or 7.3 percent, from a year ago.
The company said the latest month's 3,834-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 4,027 carloads, or 56 percent, mainly as a result of no overhead coal shipments in the Ohio region. Shipments of metallic ores jumped 60 percent to 3,517, partially as a result in a change in rail logistics and equipment for an Australian customer that boosted traffic by 602 carloads. Mineral and stone shipments increased 7.9 percent to 11,788 carloads, while shipments of chemicals and plastics jumped 11 percent to 5,533. Its shares finished at $54.22 on Thursday. They have traded in a 52-week range of $44.38 to $66.83.