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US railroads upbeat after strong 2011

January 26, 2012 - 00:12 GMT

KEYWORDS: Union Pacific , Kansas City Southern , 2012 outlook , coal , steel , vehicles and auto parts

Two of America’s largest railroads provided an upbeat forecast for 2012 during their fourth-quarter earnings calls, citing last year’s rebound in carloads.

John J. Koraleski, Union Pacific executive vice president of marketing and sales, said the railroad enjoyed a 10-percent increase in automotive volume last year. "Our finished vehicle carloadings grew 14 percent, and our part(s) shipments were up about 7 percent," he said.

Koraleski also cited a 9-percent increase "in our steel volume, with growth in pipe and steel coil" shipments headed for energy drilling projects during the fourth quarter.

"Steel also got a boost from...

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