The important trend, Union Pacific Chief Financial Officer Bob Kight told a Credit Suisse conference in New York Wednesday, is “being in a position to discuss volume growth.” The rate of growth remains a question.
UP expects a peak fall season generally, but as for the seasonal peak in the flow of containers from Pacific Rim countries into the Port of Los Angeles and Long Beach, Kight was quoted as saying, it could be “more of a bump” than a “historical, traditional peak.”
UP’s total freight volume is growing, though more slowly than in the second quarter. UP’s third-quarter volume through August was up 13% from last year. Intermodal was up 24%.
CSX Transportation said at a Dahlman Rose conference on Wednesday that it’s preparing for a peak fall season, with intermodal strengths continuing at least through the rest of this year.