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CORRECTED-Canadian National carloads decline in November

Published 2015-12-03, 12:44 p/m
CORRECTED-Canadian National carloads decline in November
CSGN
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CNI
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(Corrects improper spelling of last name Drysdale final
paragraph)
MONTREAL, Dec 3 (Reuters) - Canadian National Railway Co's
CNR.TO volumes slowed "meaningfully" during November amid
weaker demand for metals, coal and grain, a company vice
president said on Thursday.
"I think we're all feeling some of the same volume issues in
the industry," CN's vice president for investor relations Janet
Drysdale told the Credit Suisse (VX:CSGN) industrials conference in
Florida. "October was actually a reasonably good month. We saw
things meaningfully slow down in November."
CN's carloads declined 7 percent and its revenue ton miles
declined almost 3 percent during the quarter to date through
Nov. 28 from the same period in 2014. RTMs declined by just one
percent in October she said.
"That's really deteriorated during the month of November."
Besides weakness in coal and metals markets, Drysdale said
she sees a potential slow down in shipments of the sand used in
hydraulic fracturing, or "fracking." Demand for grain was weaker
than expected.

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