Inside This Issue
· The Outlook for Growth: Four Reasons to Cheer, Three Reasons to Fear
· Pressure Builds: NS Faces Growing Anger Over Ohio Derailment
· Stock Shock: Equity Investors See No Gains from Trains
· Four-Wheel Thrive: Auto Demand Still Going Strong
· Whines from the Mines: Coal Firms Still Peeved About Poor Rail Service
· Livin’ La Vida Loco: Wabtec Turns Bullish
· Porty’s Over: L.A. Imports Plunge, Will Things Ever Be the Same Again?
Track Talk
“In North America, I think despite carloads being down, we continue to see interest and demand on both modernizations and new locomotives.”
-Wabtec CEO Rafael Santana
The Latest
· If growth is what North American railroads are seeking in 2023, then so far, so good… sort of. Carload traffic across the industry is up about 4% y/y through Feb. 11th, according to AAR data. And for that thank 1) ongoing gains for coal, 2) extremely strong growth for Canadian grain and other ag products, 3) a significant recovery in auto production across North America, and 4) positive trends for moving metals, ores, and minerals often for construction.
· But hang on. There are three bad news stories as well. One is a decline in chemicals
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