Rail Shipments Chugging Along (UNP, CSX, NSC)

Despite the poor performance in the railroads today, rail shipments were strong last week. Rail freight traffic for the week ended August 14, 2010 was up 12.8% versus 2009. Rail volumes were still lower by 7.2% when compared to 2008 levels, however. Intermodal shipments were up 20.4% year-over-year while metals shipments were up 27.8% year-over-year. Intermodal shipping is the transfter of cargo from one mode of shipping to another, such as from boat to rail car. Shares of major U.S. railroads are having a tough day, however, despite these strong weekly numbers. Union Pacific UNP is down 1.05%, CSX Corporation CSX is lower by 1.45%, and Norfolk Southern Corporation NSC is down 1.04%.