Canadian Freight Rail volumes YTD are down 1% compared to the same period in 2022.
Two of ten key financial and operating metrics improved compared
to the same period last year, two remained unchanged, and six worsened.
Train weight and length were reduced to accommodate softer traffic volumes while maintaining scheduled train
operations and service levels.
The B.C. port strikes disrupted supply chains and likely contributed to the observed 6% increase in average rail terminal dwell.
5% reduction in freight revenue per RTM and a 9% increase in the average operating ratio.
Class 1 employment was up 4% and they invested nearly $1.7 billion into their assets – a $500 million (43%) increase compared to Q3-2022
Passenger Rail Highlights:
Q2-23 (latest available data), tourism expenditures on passenger rail, which are a function of both ridership and pricing, were up 14% compared to Q2-19.
Urban transit ridership continued to improve, and in August 2023, was sitting 19% below pre-pandemic levels, from a pandemic trough of -84%.
In Q2-23,2 VIA Rail ridership increased by 31% year-over-year, reaching just 16% below pre-pandemic levels.
In Q3-23, Amtrak ridership for routes with segments in Canada increased by 62% compared to last year and was
within 6% of its Q3-19 (pre-pandemic) level.