GREENWICH, Conn., Feb. 8, 2010 /PRNewswire-FirstCall/ -- Genesee & Wyoming Inc. (GWI) today reported traffic volumes for January 2010.
GWI's traffic in January 2010 was 63,862 carloads, a decrease of 6,923 carloads, or 9.8 percent, compared with January 2009.
The table below sets forth carloading information for January 2010 and January 2009:
Genesee & Wyoming Inc. January % of January % of by Commodity Group 2010 Total 2009 Total Coal, Coke & Ores 16,373 25.6% 19,929 28.2% Minerals & Stone 9,766 15.3% 9,919 14.0% Farm & Food Products 6,720 10.5% 8,500 12.0% Pulp & Paper 6,697 10.5% 8,404 11.9% Metals 5,744 9.0% 6,341 9.0% Lumber & Forest Products 4,642 7.3% 4,413 6.2% Chemicals-Plastics 4,202 6.6% 4,167 5.9% Petroleum Products 2,814 4.4% 2,695 3.8% Autos & Auto Parts 808 1.3% 452 0.6% Other 6,096 9.5% 5,965 8.4% Total 63,862 100.0% 70,785 100.0%
Coal, coke & ores traffic decreased 3,556 carloads primarily due to lower shipments in GWI's Rocky Mountain and Illinois Regions. Farm & food products traffic decreased 1,780 carloads primarily due to fewer shipments in GWI's Australia Region resulting from temporary shipment delays for the 2009-2010 South Australian grain harvest. Pulp & paper traffic decreased 1,707 carloads primarily due to lower shipments in GWI's Canada and Southern Regions. All other traffic increased by a net 120 carloads.
On June 15, 2009 GWI announced its intent to discontinue operations of its Huron Central Railway (HCRY) in the fourth quarter of 2009. GWI now operates HCRY under a temporary service contract through August 14, 2010. Starting in August 2009 HCRY carloads are no longer included in this carloadings press release due to the structure of this temporary contract. To facilitate comparison to the prior year, GWI has excluded 1,230 total HCRY carloads from January 2009 in this press release. However, carloads reported in GWI's Forms 10-K and 10-Q will include HCRY traffic through July 2009.
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.
GWI owns and operates short line and regional freight railroads in the United States, Canada, Australia and the Netherlands. Operations currently include 62 railroads organized in nine regions, with approximately 6,000 miles of owned and leased track and approximately 3,400 additional miles under track access arrangements. GWI provides rail service at 16 ports in North America and Europe and performs contract coal loading and railcar switching for industrial customers.
CONTACT: Matthew O. Walsh Senior Vice President - Corporate Development and Treasurer Genesee & Wyoming Inc. 1-203-629-3722 Web Site: http://www.gwrr.com/
Genesee & Wyoming Inc.
CONTACT: Matthew O. Walsh, Senior Vice President - Corporate Development
and Treasurer, Genesee & Wyoming Inc., +1-203-629-3722
Web Site: http://www.gwrr.com/
