The Association of American Railroads (AAR) reported Thursday that US Class I railroads originated 110,164 carloads of crude oil in the first quarter of 2014, 1.4 percent more than in the fourth quarter of 2013 and, by 1,559 carloads, the most ever in any quarter. In the first quarter of 2014, crude oil accounted for 1.6 percent of total originated carloads for US rail traffic.
AAR also reported increased US rail traffic for May 2014, with both carload and intermodal volumes increasing compared with May 2013. Intermodal traffic in May totaled 1,045,880 containers and trailers, up 8 percent (77,526 units) compared with May 2013, and the 54th-consecutive year-over-year monthly increase for intermodal volume. The weekly average of 261,470 intermodal units on US railroads in May 2014 was the third-highest average for any month in history.
Meanwhile, US carload originations totaled 1,186,314 in May 2014, up 6.1 percent (68,301 carloads) over May 2013. Total carloads averaged 296,579 per week in May, the highest weekly average for May since 2008 and the highest weekly average for any month since October 2011.
Seventeen of the 20 commodity categories tracked by the AAR each month saw year-over-year carload increases in May. Commodities with the biggest carload increases included grain, up 18,612 carloads, or 29.7 percent; crushed stone, sand and gravel, up 12,256 carloads, or 14.6 percent; and coal, up 12,196 carloads, or 2.8 percent.
Commodity categories with carload declines last month included food products, down 948 carloads, or 3.7 percent; coke, down 666 carloads, or 4.3 percent; and nonmetallic minerals, down 457 carloads, or 2.1 percent.
Excluding coal and grain, carloads were up 37,493 carloads, or 6 percent in May, the biggest such percentage increase since December 2012.
“If you’re looking for a sign that the economy is shaking off its first quarter lethargy, rail traffic in May could be that sign,” said AAR Senior Vice President John T. Gray. “Crushed stone, steel, motor vehicles, lumber, chemicals— the list of commodities showing carload gains in May goes on and on. And intermodal continues to surge. All in all, there’s very little to dislike about May’s rail traffic figures. We hope it really is a sign that the economy is beginning a period of solid growth.”