GENESEE & WYOMING INC. 
By JACKSONVILLE, Fla., Jan. 15, 2013 /PRNewswire/ -- RailAmerica today reported that its total freight carloads for the month ended December 31, 2012 were 67,562, down 4.7% from 70,889 in December 2011. Total freight carloads in the fourth quarter of 2012 were 214,272 carloads, an increase of 1.1% from 211,848 carloads in the fourth quarter of 2011.
On October 1, 2012, RailAmerica, Inc. (RailAmerica) was acquired by Genesee & Wyoming Inc. (GWI) (NYSE: GWR) and simultaneously deregistered its common stock and delisted from the New York Stock Exchange. Immediately following the closing of the acquisition, control of RailAmerica was placed into a voting trust until the U.S. Surface Transportation Board (STB) issued its decision on GWI's application to control RailAmerica's railroads. The STB issued a final decision that allowed GWI to control RailAmerica's railroads on December 28, 2012 and the voting trust that controlled RailAmerica was dissolved on that date.
For the fourth quarter of 2012, GWI accounted for its ownership of RailAmerica under the equity method of accounting and RailAmerica reported its carloadings independent of those of GWI. This press release is posted on RailAmerica's website, www.railamerica.com. GWI's carload press release can be found on www.gwrr.com. GWI will report consolidated traffic volumes, including carloads from the RailAmerica railroads, beginning with the press release for January 2013 traffic.
RailAmerica's December 2012 shipments increased in six out of twelve commodity groups compared to December 2011. Petroleum, Other, Forest Products and Chemicals showed the highest growth. Petroleum traffic increases were mainly due to strength in the West region driven by LPG shipments. Other increased mainly due to higher crude oil shipments in the Southeast and Northeast regions. Forest Products shipments were up in all regions except the Southeast. Chemicals were up primarily due to growth in the Midwest resulting from the Marquette Rail acquisition.
Motor Vehicles, Coal, Food or Kindred Products and Metallic Ores and Metals represented the largest declines. Motor Vehicles were down mainly due to lower shipments in the Midwest and Northeast. Coal declined primarily in the Central region. Food or Kindred Products declines were largely due to lower shipments in the West, Midwest and Central regions. Metallic Ores & Metals carloads were down in all regions except the Central.
December 2012 carloads include 1,605 carloads from acquisitions. On a "same railroad" basis, December 2012 carloads decreased 7.0% compared to December 2011. Fourth quarter 2012 carloads include 4,709 carloads from acquisitions. On a "same railroad" basis, fourth quarter carloads decreased 1.1% compared to the fourth quarter of 2011.
RailAmerica, Inc. owns and operates short-line and regional freight railroads in North America, operating a portfolio of 45 individual railroads with approximately 7,500 miles of track in 28 U.S. states and three Canadian provinces.
RailAmerica, Inc.
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Carload Comparisons by Commodity Group*
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Month Ended December 31, 2012 and 2011
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December Fourth Quarter
-------- --------------
Commodity Group 2012 2011 % Chg 2012 2011 % Chg
--------------- ---- ---- ----- ---- ---- -----
Agricultural
Products 10,780 11,961 -9.9% 37,261 32,827 13.5%
------------ ------ ------ ---- ------ ------ ----
Coal 10,575 13,606 -22.3% 33,504 40,925 -18.1%
---- ------ ------ ----- ------ ------ -----
Chemicals 7,606 6,813 11.6% 24,454 21,180 15.5%
--------- ----- ----- ---- ------ ------ ----
Non-Metallic
Minerals and
Products 5,867 6,127 -4.2% 19,763 20,482 -3.5%
------------- ----- ----- ---- ------ ------ ----
Pulp, Paper &
Allied Products 5,688 5,236 8.6% 16,746 14,878 12.6%
---------------- ----- ----- --- ------ ------ ----
Forest Products 4,678 4,099 14.1% 14,379 12,149 18.4%
--------------- ----- ----- ---- ------ ------ ----
Metallic Ores and
Metals 4,675 5,500 -15.0% 13,623 17,436 -21.9%
----------------- ----- ----- ----- ------ ------ -----
Petroleum 4,517 3,672 23.0% 12,254 9,776 25.3%
--------- ----- ----- ---- ------ ----- ----
Waste & Scrap
Materials 4,463 4,384 1.8% 13,395 14,884 -10.0%
------------- ----- ----- --- ------ ------ -----
Food or Kindred
Products 3,929 4,775 -17.7% 12,885 14,680 -12.2%
--------------- ----- ----- ----- ------ ------ -----
Other 3,328 2,801 18.8% 10,583 8,021 31.9%
----- ----- ----- ---- ------ ----- ----
Motor Vehicles 1,456 1,915 -24.0% 5,425 4,610 17.7%
-------------- ----- ----- ----- ----- ----- ----
TOTAL 67,562 70,889 -4.7% 214,272 211,848 1.1%
----- ------ ------ ---- ------- ------- ---
Less WCOR and
MQTR* (1,605) (4,709)
------------- ------ ------
Same Railroad 65,957 70,889 -7.0% 209,563 211,848 -1.1%
------------- ------ ------ ---- ------- ------- ----
* Wellsboro and Corning Railroad (WCOR) and Marquette Railroad (MQTR). Represents 100% of WCOR carloads, which is 70% owned by RailAmerica.
CONTACT: Thomas D. Savage, 1-203-629-3722
SOURCE RailAmerica, Inc.
