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Railroads Seeing Surge in Freight Business
The convergence of an improving economy, increased international trade, bumper crops and higher fuel prices has led to a record-setting year for U.S. railroads. During one week last month, the rail industry moved the most freight volume in its history -- 33.1 billion ton-miles, just eclipsing the 32.7 billion ton-miles mark set a week earlier, according to the Association of American Railroads. Through the end of October, railroads had moved 1.3 trillion ton-miles this year, or 4 percent more than at the same period last year. A ton-mile is an industry standard measurement of one ton of goods moving one mile. Companies said they've had to scramble to buy new locomotives, schedule more trains and hire more people.Posted by: Mark Espinola 2004-11-04 |
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