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Canadian railway freight volume up 4.0 percent in February

Tuesday, 23 April 2024 19:43:36 (GMT+3)   |   San Diego
       

According to Statistics Canada, in February, Canadian railways transported 30.0 million tons of freight, up 4.0 percent from February 2023. Higher shipments of iron ore, other cereal grains as well as more containers helped bolster the year-over-year growth.

Despite some bouts of cold weather in Western Canada during February 2024, restricting train length and speed, total cargo tonnage was well above the five-year average (27.3 million tons) for the month of February.

The year-over-year tonnage growth in February reflects higher non-intermodal loadings (mainly commodities) as well as a sharp rise in intermodal loadings (mainly containers).

Non-intermodal freight loadings in Canada rose 4.8 percent year over year to 23.7 million tons in February. Iron ores and concentrates―feedstock to produce steel―led the increase, with loadings rising 12.8 percent (+505,000 tons) from February 2023.

In February 2024, intermodal shipments—mainly containers—originating in Canada also contributed to the overall growth, increasing 11.2 percent year over year to 2.8 million tons.

Indeed, container volume reached its highest tonnage for the month of February, benefiting from stronger demand in international markets.

Freight traffic coming from the United States declined for the second consecutive month, falling to 3.5 million tons in February, a decline of 5.9 percent from February of last year.


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