Photo: Darryl Dyck, The canadian Press
Last week, the number of wagons full fell more than 17% compared to last year.
The two major railways in Canada are about to cross a difficult year, an impending recession weighing on volumes of cargo.
Last week, the number of wagons full fell more than 17 % compared to last year, which was in the waning crescent of the shipments since the beginning of the year, which has been accelerated by the pandemic COVID-19.
The analyst Cameron Doerksen, of National Bank, is expected that the volumes of the national Company of railways, Canadian national (CN) and Canadian Pacific railway (CP) fall “significantly” in April and “even more” in may, the industry supply chain remaining closed while the retail trade is strongly reduced. The traffic of containers and shipments of automobiles have been particularly affected after the closure of the centres of production in the asian and north american due to the new coronavirus.
However, CN and CP remain fully operational, and the value of their shares is about 15 % below their highs in February, a decline of less brutal than many other companies in the transportation industry.
Mr. Doerksen expects freight volumes to be ” severely affected in the coming months “, the Canada anticipating an economic contraction of 6.2% in 2020, according to forecasts unveiled Tuesday by the international monetary Fund.