Business News While Canada’s rail operators have nearly recovered, many U.S. operators lag far behind. The concerns are sharpest in the U.S. Farm Belt, with lawmakers fearful that the biggest crops on record may be slow to reach markets or could even rot. Rail logjams contributed to the economic slowdown early in the year, rippling across corporate America and affecting everything from car makers to ethanol producers. Many experts blame an incomplete recovery from last winters freight backlogs, coupled with record crops and rising competition with crude oil tankers for track space amid an economic recovery. Its like a sinking ship - youre bailing out at one end, but its coming in the other end just as fast, if not faster, said Citigroup Global Markets transportation analyst Christian Wetherbee. Performance fell behind as loads grew: between April and June, U.S. rail carload volumes grew 5.4 percent and intermodal traffic, which include shipments partly by rail, rose 8 percent, Association of American Railroads (AAR) data shows.
Posted on: Fri, 15 Aug 2014 06:29:33 +0000
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