Genesee & Wyoming Inc. Reports Traffic for November 2009
December 11 2009 - 5:30AM
PR Newswire (US)
GREENWICH, Conn., Dec. 11, 2009 /PRNewswire-FirstCall/ -- Genesee
& Wyoming Inc. (GWI) (NYSE:GWR) today reported traffic volumes
for November 2009. GWI's traffic in November 2009 was 62,977
carloads, a decrease of 8,522 carloads, or 11.9 percent, compared
with November 2008. GWI's traffic in the fourth quarter of 2009
through November was 125,554 carloads, a decrease of 26,308
carloads, or 17.3 percent, compared with the fourth quarter of 2008
through November. The table below sets forth carloading information
for November 2009 and November 2008: Genesee & Wyoming Inc.
November % of November % of by Commodity Group 2009 Total 2008
Total Coal, Coke & Ores 16,550 26.3% 18,267 25.6% Minerals
& Stone 10,533 16.7% 12,351 17.3% Pulp & Paper 6,493 10.3%
8,480 11.9% Farm & Food Products 6,271 10.0% 7,601 10.6% Metals
5,044 8.0% 5,240 7.3% Lumber & Forest Products 4,677 7.4% 5,381
7.5% Chemicals-Plastics 3,957 6.3% 3,929 5.5% Petroleum Products
2,275 3.6% 2,266 3.2% Autos & Auto Parts 798 1.3% 732 1.0%
Other 6,379 10.1% 7,252 10.1% Total 62,977 100.0% 71,499 100.0%
Pulp & paper traffic decreased 1,987 carloads. Minerals &
stone traffic decreased 1,818 carloads primarily due to lower
shipments in GWI's New York/Ohio/Pennsylvania, Rail Link and
Southern Regions. Coal, coke & ores traffic decreased 1,717
carloads primarily due to lower shipments in GWI's New
York/Ohio/Pennsylvania and Illinois Regions. All other traffic
decreased by a net 3,000 carloads. The table below sets forth
carloading information for the fourth quarter of 2009 through
November and the fourth quarter of 2008 through November: Genesee
& Wyoming Inc. QTD Nov % of QTD Nov % of by Commodity Group
2009 Total 2008 Total Coal, Coke & Ores 31,075 24.7% 39,418
26.0% Minerals & Stone 22,920 18.3% 27,079 17.8% Pulp &
Paper 13,310 10.6% 18,413 12.1% Farm & Food Products 11,065
8.8% 13,014 8.6% Metals 10,639 8.5% 12,168 8.0% Lumber & Forest
Products 10,021 8.0% 12,324 8.1% Chemicals-Plastics 8,079 6.4%
8,456 5.6% Petroleum Products 4,447 3.5% 4,567 3.0% Autos &
Auto Parts 1,626 1.3% 1,614 1.1% Other 12,372 9.9% 14,809 9.7%
Total 125,554 100.0% 151,862 100.0% The traffic decrease in the
fourth quarter of 2009 through November compared to the fourth
quarter of 2008 through November was principally due to declines of
8,343 carloads of coal, coke & ores traffic, where an expected
maintenance outage at a power generation facility in Illinois
reduced traffic volume in October 2009, 5,103 carloads of pulp
& paper traffic, and 4,159 carloads of minerals & stone
traffic. All other traffic decreased by a net 8,703 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 press release due to the structure of this
temporary contract. To facilitate comparison to the prior year, GWI
has excluded 1,226 total HCRY carloads from November 2008 and 2,391
carloads from the fourth quarter of 2008 through November in this
press release. However, carloads reported in GWI's Form 10-K will
include HCRY traffic for all of 2008. 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 more than
6,000 miles of owned and leased track and approximately 3,000
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/ DATASOURCE: 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/
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