The Association of American Railroads (AAR) reported U.S. rail traffic for the week ending June 1, 2024, as well as volumes for May 2024.
U.S. railroads originated 1,060,801 carloads in May 2024, down 6.0 percent, or 67,145 carloads, from May 2023. U.S. railroads also originated 1,281,248 containers and trailers in May 2024, up 7.6 percent, or 90,744 units, from the same month last year. Combined U.S. carload and intermodal originations in May 2024 were 2,342,049, up 1.0 percent, or 23,599 carloads and intermodal units from May 2023.
In May 2024, 12 of the 20 carload commodity categories tracked by the AAR each month saw carload gains compared with May 2023. These included: petroleum & petroleum products, up 7,123 carloads or 15.4 percent; chemicals, up 5,023 carloads or 3.2 percent; and grain, up 4,418 carloads or 4.7 percent. Commodities that saw declines in May 2024 from May 2023 included: coal, down 69,404 carloads or 22.0 percent; crushed stone, sand & gravel, down 12,569 carloads or 11.4 percent; and primary metal products, down 3,016 carloads or 7.2 percent.
“At first glance, rail traffic in May seems to display mixed signals,” stated Rand Ghayad, Chief Economist of the Association of American Railroads. “While coal’s continued decline has led to a decrease in total carloads, a closer examination reveals that carloads (excluding coal) increased for the fourth consecutive month. Although it is unlikely that we will witness a reversal in coal’s trend, other commodities—such as intermodal traffic and petroleum—hold greater growth potential and will likely be more important strategically for railroads in the future. In May, intermodal traffic spiked, maintaining its upward trajectory over several months. This surge reflects both increased port activity and intensified efforts by railroads to compete in a fiercely competitive market. Additionally, solid volume gains were observed for petroleum products, chemicals, and grain.”
Excluding coal, carloads were up 2,259 carloads, or 0.3 percent, in May 2024 from May 2023. Excluding coal and grain, carloads were down 2,159 carloads, or 0.3 percent.
Total U.S. carload traffic for the first five months of 2024 was 4,683,510 carloads, down 5.0 percent, or 247,984 carloads, from the same period last year; and 5,568,464 intermodal units, up 8.7 percent, or 443,453 containers and trailers, from last year.
Total combined U.S. traffic for the first 22 weeks of 2024 was 10,251,974 carloads and intermodal units, an increase of 1.9 percent compared to last year.
Week Ending June 1,2024
Total U.S. weekly rail traffic was 450,077 carloads and intermodal units, up 2.4 percent compared with the same week last year.
Total carloads for the week ending June 1 were 206,236 carloads, down 5.9 percent compared with the same week in 2023, while U.S. weekly intermodal volume was 243,841 containers and trailers, up 10.7 percent compared to 2023.
Six of the 10 carload commodity groups posted an increase compared with the same week in 2023. They included grain, up 2,947 carloads, to 19,049; farm products excl. grain, and food, up 1,010 carloads, to 16,075; and petroleum and petroleum products, up 927 carloads, to 10,006. Commodity groups that posted decreases compared with the same week in 2023 included coal, down 12,514 carloads, to 51,817; nonmetallic minerals, down 4,514 carloads, to 27,128; and miscellaneous carloads, down 1,306 carloads, to 7,996.
North American rail volume for the week ending June 1, 2024, on 10 reporting U.S., Canadian, and Mexican railroads totaled 310,890 carloads, down 2.6 percent compared with the same week last year, and 327,199 intermodal units, up 8.2 percent compared with last year. Total combined weekly rail traffic in North America was 638,089 carloads and intermodal units, up 2.7 percent. North American rail volume for the first 22 weeks of 2024 was 14,459,420 carloads and intermodal units, up 2.0 percent compared with 2023.
Canadian railroads reported 88,149 carloads for the week, up 3.3 percent, and 71,065 intermodal units, down 2.0 percent compared with the same week in 2023. For the first 22 weeks of 2024, Canadian railroads reported a cumulative rail traffic volume of 3,544,980 carloads, containers, and trailers, up 0.7 percent.
Mexican railroads reported 16,505 carloads for the week, up 13.2 percent compared with the same week last year, and 12,293 intermodal units, up 29.8 percent. Cumulative volume on Mexican railroads for the first 22 weeks of 2024 was 662,466 carloads and intermodal containers and trailers, up 11.6 percent from the same point last year.
