Agricultural shipments could save major rail haulers
5/27/2009 -
Officials from major railroads predict an increase in agricultural shipments is likely to be the first indicator their industry is rebounding from the current recession.
Representatives from CSX Transportation, Norfolk Southern Railway and Canadian National Railway discussed industry trends recently during the Wolfe Research Global Transportation Conference in New York.
Railroads are closely watched by financial industry analysts as measures of larger trends in the U.S. economy. In recent months, their opinions have split on whether a recovery will begin this year or wait until 2010.
Railroad officials said they already are seeing increases in shipments of phosphates and fertilizer, but they appear to be tied to the spring planting season. They also say their intermodal business has suffered the worst during the recession.
Contact: Theresa A. DiMella, Wolfe Research, (646) 845-0772.
Representatives from CSX Transportation, Norfolk Southern Railway and Canadian National Railway discussed industry trends recently during the Wolfe Research Global Transportation Conference in New York.
Railroads are closely watched by financial industry analysts as measures of larger trends in the U.S. economy. In recent months, their opinions have split on whether a recovery will begin this year or wait until 2010.
Railroad officials said they already are seeing increases in shipments of phosphates and fertilizer, but they appear to be tied to the spring planting season. They also say their intermodal business has suffered the worst during the recession.
Contact: Theresa A. DiMella, Wolfe Research, (646) 845-0772.
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