The entire world has been affected by the shock of the COVID-19 outbreak. The rail industry is no different. In April total U.S. rail car loadings dropped -25.2% from the previous year. Excluding coal, total cars loaded was down -19.4% YOY.
After a relatively strong 2019 that was only outmatched by a record setting 2018. Rail car loadings, while still down YOY began trending up in January and February of 2020. If not for an Asian market already seeing effects of the COVID-19 outbreak, car loadings showed a chance of returning to positive year over year levels going into the march month. With the onset of lockdown protocols and economic shutdowns over the month of March; those hopes faded. Then completely fell out in April as shutdown orders took full effect.
These are record drops in rail loadings and some of the lowest car loading counts on record. Unfortunately, with states just beginning to lift economic and travel restrictions. Data will likely get worse before it gets better. The Federal Reserve Bank of New York’s Weekly Economic Index (“WEI”) measured a GDP of -12.00% for the week ended May 9. It measured -11.14% for the week ended May 2. While this data continues to be unprecedentedly negative. AEA is confident our great nation will overcome these challenges.
Andress Engineering has over 60 years as a Trackmobile dealer and industrial Engineered equipment systems provider. We remain open and ready to support the operations of our customers. We have a fleet of Trackmobiles available for rental. Our service technicians are available 24/7/365. Our Trackmobiles, cranes, and compressors operate in some of the most critical industries supporting our economy. Our team stands ready to support your application in any way we can.