Genesee & Wyoming Aug. traffic soars on buyout

Genesee & Wyoming Aug. traffic up 96 pct., helped by RailAmerica acquisition

Associated Press

DARIEN, Conn. (AP) -- August traffic at Genesee & Wyoming rose 96 percent from a year ago thanks largely to last year's acquisition of RailAmerica Inc. for for $1.4 billion.

Total traffic for the month was 162,101 carloads, compared with 82,686 carloads in the prior-year period. Had the company acquired RailAmerica on Jan. 1, 2012, the prior-year period's carload total would be 155,746.

The company said that petroleum products traffic rose mostly because of increased shipments of crude oil and liquid petroleum gases in the Pacific and Southern regions and Canada. Metallic ores traffic climbed mostly because of higher iron ore shipments in the Australia region.

Coal and coke traffic fell mostly due to lower shipments in the Central and Mountain West regions.

For the third quarter to date, traffic approximately doubled to 327,173 carloads. Metals traffic rose because of higher shipments in the Southern and Northeast regions. Metallic ores traffic climbed mostly due to increased iron ore shipments in the Australia region. Agricultural products traffic and petroleum products traffic also increased.

Coal and coke traffic declined mostly on lower shipments in the Mountain West and Central regions, somewhat offset by higher shipments in the Midwest.

Last month Genesee & Wyoming Inc. reported that its second-quarter profit surged, buoyed by the RailAmerica buyout.

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