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US railroad execs say growth story crosses borders
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Thursday, 26 May 2011
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US railroads, seeing the choppy domestic economic recovery, are escalating cross-border traffic with global trade a major growth engine.

Demand for everything from US coal in China and India to consumer products in Mexico is driving up volume this year, despite disruptive Mississippi River flooding and tornadoes in Southeastern states, railroad executives said on Friday.

Global trade accounts for almost 30% of CSX Corp volume, and it predicts it will transport a record 40 million tons of coal for export this year and sees that demand growing.

Mr Oscar Munoz chief financial officer at CSX said that "There's a giant sucking sound as they become a net importer.”

He added that of China's demand for US coal. Brazil also has no metallurgical coal and the US is a natural supplier, he further added that "Our port structure is very critical as more goods are shipped internationally.”

(Sourced from Reuters)

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