Genesee & Wyoming Inc. Reports Traffic for July 2000
11 August 2000
Genesee & Wyoming Inc. Reports Traffic for July 2000
GREENWICH, Conn. - Genesee & Wyoming Inc. today reported July 2000 traffic
volumes for its North American and Australian operations. Included in North
American carloadings are the results of the Company's Mexican subsidiary,
Compania de Ferrocarriles Chiapas-Mayab, S.A. de C.V., which GWI began operating
on September 1, 1999.
North American carloads in July 2000 were 29,115, a 25.8% increase from
July 1999. The table below sets forth carloading information for the
comparable periods:
North America by July % of July % of
Commodity Group 2000 Total 1999 Total
Coal Coke and Ores 8,455 29.0% 6,228 26.9%
Pulp and Paper 4,201 14.4% 3,872 16.7%
Minerals and Stone 3,852 13.2% 1,982 8.6%
Metals 3,229 11.1% 3,002 13.0%
Petroleum Products 2,660 9.1% 1,486 6.4%
Lumber and Forest Products 1,584 5.4% 2,522 10.9%
Farm and Food Products 1,537 5.3% 1,267 5.5%
Chemicals 1,371 4.7% 1,298 5.6%
Autos and Auto Parts 356 1.2% 156 0.7%
Other 1,870 6.6% 1,336 5.7%
Total 29,115 23,149
FCCM's results were 3,194 carloads, or 53.5% of the total July increase,
led by 1,449 carloads of minerals and stone and 978 carloads of petroleum
products.
Excluding FCCM, carloads increased by 2,772, or 12.0%, in July 2000 versus
July 1999. Coal traffic increased by 2,227 carloads, while minerals and stone
traffic increased by 421 carloads. Lumber and forest products partially
offset these increases with a 985 carload decline. All other commodities
combined increased by a net 1,109 carloads. Coal volumes improved as the
Company's Northeast Region continued to post strong volumes. Minerals and
stone traffic increased primarily in the Company's Oregon Region. Lumber and
forest products shipments declined as shippers in the Company's Oregon Region
experienced lower demand for lumber.
Australia's carloads are reported below for the comparable periods:
Australia by July % of July % of
Commodity Group 2000 Total 1999 Total
Iron Ores 7,817 44.2% -- --
Hook and Pull 4,115 23.3% 4,567 33.7%
Gypsum 2,937 16.6% 4,501 33.2%
Grain 1,590 9.0% 3,311 24.4%
Marble 721 4.1% 741 5.5%
Lime 375 2.1% 423 3.2%
Other 117 0.7% -- --
Total 17,672 13,543
Australia traffic increased by 4,129 carloads, or 30.5%, in July 2000
versus July 1999. This increase included 7,817 carloads of iron ore, the
result of the Company's contract with Broken Hill Proprietary Company Limited,
which began in December 1999. Hook and pull traffic declined by 452 carloads
primarily due to movements of ballast and concrete ties made in July 1999 for
a track maintenance company that did not recur in July 2000. Grain shipments
declined by 1,721 carloads, as the 1999/2000 harvest has been below the
1998/1999 harvest. The Company expects that mainland grain, which is
currently being stored, will be shipped during the remainder of 2000. Gypsum
declined by 1,564 carloads, reflecting the timing of monthly shipments. Other
commodities increased by a net 49 carloads in July 2000 versus July 1999.
GWI is a leading operator of short line and regional freight railroads in
the United States, Canada, Mexico, and Australia, and provides freight car
switching and related services to industrial companies that have extensive
railroad facilities within their complexes. In 1999, GWI marked the one-
hundredth anniversary of its founding as a 14-mile railroad in upstate New
York. The Company today operates in four countries on two continents over
3,750 miles of owned and leased track. It also operates over an additional
2,700 miles under track access arrangements.
This press release contains forward-looking statements regarding future
events and the future performance of Genesee & Wyoming Inc. that involve risks
and uncertainties that could cause actual results to differ materially
including, but not limited to, economic conditions, customer demand, increased
competition in the relevant market, and others. The Company refers you to the
documents that Genesee & Wyoming Inc. files from time to time with the
Securities and Exchange Commission, such as the Company's Forms 10-Q and 10-K
which contain additional important factors that could cause its actual results
to differ from its current expectations and from the forward-looking
statements contained in this press release.