{"id":14237,"date":"2024-05-13T02:55:00","date_gmt":"2024-05-13T06:55:00","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=14237"},"modified":"2024-10-30T10:45:45","modified_gmt":"2024-10-30T14:45:45","slug":"pfl-railcar-report-5-13-2024","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/pfl-railcar-report-5-13-2024\/","title":{"rendered":"PFL Railcar Report 5-13-2024"},"content":{"rendered":"\n<p class=\"has-text-align-center\"><strong><em>\u201cTo effectively communicate, we must realize that we are all different in the way we perceive the world and use this understanding as a guide to our communication with others.\u201d &#8211; Tony Robbins<\/em><\/strong><\/p>\n\n\n\n<center><iframe width=\"100%\" style=\"width: 100%; aspect-ratio: 16 \/ 9;\" src=\"https:\/\/www.youtube.com\/embed\/CG05jdl3juk\" title=\"The PFL Petroleum Services Weekly Briefing\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen>The PFL Petroleum Services Weekly Briefing<\/iframe><\/iframe><\/center>\n\n\n\n<div style=\"height:21px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center has-black-color has-text-color\"><strong><u>Jobs Update<\/u><\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><u>Initial jobless claims seasonally adjusted for the week ending May 4th, 2023 came in at 231,000<\/u><\/strong>, up 22,000 people week-over-week.<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"795\" height=\"411\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/1a-Initial-Jobless-Claims-5-13-2024-1.png\" alt=\"\" class=\"wp-image-14252\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/1a-Initial-Jobless-Claims-5-13-2024-1.png 795w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/1a-Initial-Jobless-Claims-5-13-2024-1-300x155.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/1a-Initial-Jobless-Claims-5-13-2024-1-768x397.png 768w\" sizes=\"auto, (max-width: 795px) 100vw, 795px\" \/><\/figure>\n<\/div>\n\n\n<ul class=\"wp-block-list\">\n<li><strong><u>Continuing jobless claims came in at 1.785 million people<\/u><\/strong>, versus the adjusted number of 1.768 million people from the week prior, up 17,000 people week-over-week.<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"796\" height=\"460\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/1b-Cont-Jobless-Claims-5-13-2024-1.png\" alt=\"\" class=\"wp-image-14253\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/1b-Cont-Jobless-Claims-5-13-2024-1.png 796w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/1b-Cont-Jobless-Claims-5-13-2024-1-300x173.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/1b-Cont-Jobless-Claims-5-13-2024-1-768x444.png 768w\" sizes=\"auto, (max-width: 796px) 100vw, 796px\" \/><\/figure>\n<\/div>\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><u>Stocks closed mixed on Friday of last week, but higher week over week<\/u><\/strong><\/h4>\n\n\n\n<p><strong><u>The DOW closed higher on Friday of last week, up 125.08 points<\/u><\/strong> (0.32%), closing out the week at 39,512.84, up 837.16 points week-over-week. <strong><u>The S&amp;P 500 closed higher on Friday of last week<\/u><\/strong>, up 8.6&nbsp; points (0.16%), and closed out the week at 5,222.68, up 94.89 points week-over-week. <strong><u>The NASDAQ closed lower on Friday of last week<\/u><\/strong>, down -5.4 points (-0.03%), and closed out the week at 16,340.87, up 184.54 points week-over-week.<\/p>\n\n\n\n<p><strong><u>In overnight trading, DOW futures traded higher and are expected to open at 39,670 this morning, up 28 points.<\/u><\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><a><\/a><strong><u>Crude oil closed lower on Friday of last week &#8211;&nbsp; mixed week over week.<\/u><\/strong><\/h4>\n\n\n\n<p><strong><u>WTI traded down -$1 per barrel (-1.03%) to close at $78.26 per barrel on <\/u><\/strong><strong><u>Friday of last week<\/u><\/strong>, but up $0.15 per barrel week-over-week.<strong><u> Brent traded down -US$1.09 per barrel (-1.3%) on <\/u><\/strong><strong><u>Friday of last week<\/u><\/strong>, to close at US$82.79 per barrel, down -US$0.14 per barrel week-over-week.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.oneexchangecorp.com\/\"><strong>One Exchange WCS<\/strong><\/a><strong><u> (Western Canadian Select) for June delivery settled Friday at US$12.20 below the WTI-CMA (West Texas Intermediate \u2013 Calendar Month Average). The implied value was US$66.34 per barrel.&nbsp;<\/u><\/strong><\/p>\n\n\n\n<p><strong><u>U.S. commercial crude oil inventories<\/u><\/strong> (excluding those in the Strategic Petroleum Reserve) <strong><u>decreased by 1.4 million barrels<\/u><\/strong> week-over-week. At 459.5 million barrels, <strong><u>U.S. crude oil inventories are 3% below the five-year average for this time of year. <\/u><\/strong><strong><u><\/u><\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"917\" height=\"398\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/2-weekly-us-total-crude-stocks-5-13-2024.png\" alt=\"\" class=\"wp-image-14238\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/2-weekly-us-total-crude-stocks-5-13-2024.png 917w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/2-weekly-us-total-crude-stocks-5-13-2024-300x130.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/2-weekly-us-total-crude-stocks-5-13-2024-768x333.png 768w\" sizes=\"auto, (max-width: 917px) 100vw, 917px\" \/><\/figure>\n<\/div>\n\n\n<p><strong><u>Total motor gasoline inventories increased by 900,000 barrels<\/u><\/strong> week-over-week and are 2% below the five-year average for this time of year.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"916\" height=\"400\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/3-Weekly-US-Ending-Stocks-of-Total-Gasoline-5-13-2024.png\" alt=\"\" class=\"wp-image-14239\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/3-Weekly-US-Ending-Stocks-of-Total-Gasoline-5-13-2024.png 916w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/3-Weekly-US-Ending-Stocks-of-Total-Gasoline-5-13-2024-300x131.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/3-Weekly-US-Ending-Stocks-of-Total-Gasoline-5-13-2024-768x335.png 768w\" sizes=\"auto, (max-width: 916px) 100vw, 916px\" \/><\/figure>\n<\/div>\n\n\n<p><strong><u>Distillate fuel inventories increased by 600,000 barrels<\/u><\/strong> week-over-week and are 7% below the five-year average for this time of year.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"918\" height=\"400\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/4-Ending-Stocks-of-Distillate-Fuel-Oil-5-13-2024.png\" alt=\"\" class=\"wp-image-14240\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/4-Ending-Stocks-of-Distillate-Fuel-Oil-5-13-2024.png 918w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/4-Ending-Stocks-of-Distillate-Fuel-Oil-5-13-2024-300x131.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/4-Ending-Stocks-of-Distillate-Fuel-Oil-5-13-2024-768x335.png 768w\" sizes=\"auto, (max-width: 918px) 100vw, 918px\" \/><\/figure>\n<\/div>\n\n\n<p><strong><u>Propane\/propylene inventories increased by 2.2 million barrels<\/u><\/strong> week-over-week and are 13% above the five-year average for this time of year.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"917\" height=\"400\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/5-propane-and-propylene-excluding-terminal-5-13-2024.png\" alt=\"\" class=\"wp-image-14241\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/5-propane-and-propylene-excluding-terminal-5-13-2024.png 917w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/5-propane-and-propylene-excluding-terminal-5-13-2024-300x131.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/5-propane-and-propylene-excluding-terminal-5-13-2024-768x335.png 768w\" sizes=\"auto, (max-width: 917px) 100vw, 917px\" \/><\/figure>\n<\/div>\n\n\n<p><strong><u>Propane prices closed at 73 cents per gallon, down 4 cents per gallon week-over-week<\/u><\/strong> and flat year-over-year.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"917\" height=\"401\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/6-Propane-Mont-Belvieu-Pricing-5-13-2024.png\" alt=\"\" class=\"wp-image-14242\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/6-Propane-Mont-Belvieu-Pricing-5-13-2024.png 917w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/6-Propane-Mont-Belvieu-Pricing-5-13-2024-300x131.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/6-Propane-Mont-Belvieu-Pricing-5-13-2024-768x336.png 768w\" sizes=\"auto, (max-width: 917px) 100vw, 917px\" \/><\/figure>\n<\/div>\n\n\n<p><strong><u>Overall, total commercial petroleum inventories decreased by 2.1 million barrels <\/u><\/strong>during the week ending May 3rd, 2024.<\/p>\n\n\n\n<p><strong><u>U.S. crude oil imports averaged 7 million barrels per day <\/u><\/strong>during the week ending May 3rd, 2024<strong><u>, an increase of 198,000 barrels per day<\/u><\/strong> week-over-week. Over the past four weeks, <strong><u>crude oil imports averaged 6.7 million barrels per day<\/u><\/strong>, 8.4% more than the same four-week period last year. <strong><u>Total motor gasoline imports<\/u><\/strong> (including both finished gasoline and gasoline blending components) <strong><u>averaged 719,000 barrels per day, and distillate fuel imports averaged 111,000 barrels per day <\/u><\/strong>during the week ending May 3rd, 2024.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"918\" height=\"396\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/7-US-imports-of-Crude-Oil-5-13-2024.png\" alt=\"\" class=\"wp-image-14243\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/7-US-imports-of-Crude-Oil-5-13-2024.png 918w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/7-US-imports-of-Crude-Oil-5-13-2024-300x129.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/7-US-imports-of-Crude-Oil-5-13-2024-768x331.png 768w\" sizes=\"auto, (max-width: 918px) 100vw, 918px\" \/><\/figure>\n<\/div>\n\n\n<p><strong><u>U.S. crude oil exports averaged 4.468 million barrels per day<\/u><\/strong> for the week ending May 3rd, 2024, <strong><u>an increase of 550,000 barrels per day week-over-week.<\/u><\/strong> Over the past four weeks, crude oil exports averaged 4.573 million barrels per day.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"918\" height=\"399\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/8-US-Export-of-Crude-5-13-2024.png\" alt=\"\" class=\"wp-image-14244\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/8-US-Export-of-Crude-5-13-2024.png 918w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/8-US-Export-of-Crude-5-13-2024-300x130.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/8-US-Export-of-Crude-5-13-2024-768x334.png 768w\" sizes=\"auto, (max-width: 918px) 100vw, 918px\" \/><\/figure>\n\n\n\n<p><strong><u>U.S. crude oil refinery inputs averaged 15.9 million barrels per day<\/u><\/strong> during the week ending May 3, 2024, which was 307,000 barrels per day more week-over-week.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"918\" height=\"398\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/8-US-Refiner-Net-Input-of-Crude-5-13-2024.png\" alt=\"\" class=\"wp-image-14245\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/8-US-Refiner-Net-Input-of-Crude-5-13-2024.png 918w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/8-US-Refiner-Net-Input-of-Crude-5-13-2024-300x130.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/8-US-Refiner-Net-Input-of-Crude-5-13-2024-768x333.png 768w\" sizes=\"auto, (max-width: 918px) 100vw, 918px\" \/><\/figure>\n<\/div>\n\n\n<p>WTI is poised to open at $78.48, up 22 cents per barrel from Friday\u2019s close.<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center has-black-color has-text-color\" id=\"north-american-rail-traffic\"><strong><u>North American Rail Traffic<\/u><\/strong><\/h4>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Week Ending May 8th, 2024.<\/strong><\/h4>\n\n\n\n<p><strong><u>Total North American weekly rail volumes were down (0.17%) in week 19,<\/u><\/strong> compared with the same week last year. Total carloads for the week ending on May 8th were 335,162, down (-3.65%) compared with the same week in 2023, while weekly intermodal volume was 314,162, up (+3.82%) compared to the same week in 2023. 6 of the AAR\u2019s 11 major traffic categories posted year-over-year decreases. The most significant decrease came from Coal, which was down (-21.32%).&nbsp; The most significant increase came from Petroleum and Petroleum Products which was up (+10.08%).<\/p>\n\n\n\n<p>In the East, <strong><u>CSX\u2019s total volumes were up (0.26%)<\/u><\/strong>, with the largest decrease coming from Coal, down (-12.33%) while the largest increase came from Metallic Ores and Metals (14.17%). <strong><u>NS\u2019s volumes were up (3.21%),<\/u><\/strong> with the largest increase coming from Nonmetallic Minerals (+12.02%) while the largest decrease came from Coal (-10.37%).<\/p>\n\n\n\n<p>In the West, <strong><u>BN\u2019s total volumes were down (-0.63%)<\/u><\/strong>, with the largest increase coming from Petroleum and Petroleum Products (-32.2%) while the largest decrease came from Coal, down (-31.47%). <strong><u>UP\u2019s total rail volumes were down (-0.96%)<\/u><\/strong> with the largest decrease coming from Coal, down (-20.79%) while the largest increase came from Motor Vehicles and Parts which was up (+15.19%).<\/p>\n\n\n\n<p>In Canada, <strong><u>CN\u2019s total rail volumes were down (-2.52%)<\/u><\/strong> with the largest decrease coming from Other, down (-11.61%) while the largest increase came from Chemicals, up (+11.94%). <strong><u>CP\u2019s total rail volumes were up (0.26%)<\/u><\/strong> with the largest increase coming from Intermodal (+29.11%) while the largest decrease came from Coal, down (-40.16%).<\/p>\n\n\n\n<p><strong><u>KCS\u2019s total rail volumes were down (-7.72%)<\/u><\/strong> with the largest decrease coming from Other (-32.56%) and the largest increase coming from Chemicals (+21.86%).<\/p>\n\n\n\n<p class=\"has-text-align-center\"><a id=\"_msocom_1\"><\/a><strong>Source Data: AAR &#8211; PFL Analytics<\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center has-black-color has-text-color\" id=\"rig-count\"><strong><u>Rig Count<\/u><\/strong><\/h4>\n\n\n\n<p><strong><u>North American rig count was down by -6 rigs week-over-week. U.S. rig count was down by -2 rigs week-over-week,<\/u><\/strong> and down by -128 rigs year-over-year. The U.S. currently has 603 active rigs. <strong><u>Canada\u2019s rig count was down by 4 rigs week-over-week<\/u><\/strong>, and up by 22 rigs year-over-year.&nbsp; Canada\u2019s overall rig count is 116 active rigs. Overall, <strong><u>year-over-year, we are down -106 rigs collectively.<\/u><\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\" id=\"north-american-rig-count-summary\"><u><strong>North American Rig Count Summary<\/strong><\/u><\/h4>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"714\" height=\"106\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/9-Rig-Count-Summary-5-13-2024.png\" alt=\"\" class=\"wp-image-14262\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/9-Rig-Count-Summary-5-13-2024.png 714w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/9-Rig-Count-Summary-5-13-2024-300x45.png 300w\" sizes=\"auto, (max-width: 714px) 100vw, 714px\" \/><\/figure>\n<\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"794\" height=\"375\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/9-Rig-Count-Chart-5-13-2024.png\" alt=\"\" class=\"wp-image-14263\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/9-Rig-Count-Chart-5-13-2024.png 794w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/9-Rig-Count-Chart-5-13-2024-300x142.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/9-Rig-Count-Chart-5-13-2024-768x363.png 768w\" sizes=\"auto, (max-width: 794px) 100vw, 794px\" \/><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading has-text-align-center\"><strong><u>A few things we are watching:<\/u><\/strong><\/h3>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We are watching Petroleum Carloads<\/em><\/strong><\/h4>\n\n\n\n<p><strong><u>The four-week rolling average of petroleum carloads carried on the six largest North American railroads rose to 27,944 from 28,878 which was an increase of 934 rail cars week-over-week <\/u><\/strong>&nbsp;&nbsp;<strong><u>Canadian volumes were lower.<\/u><\/strong> CPKC\u2019s shipments were lower by -1.5% week over week. CN\u2019s volumes were lower by -2.1% week-over-week. <strong><u>U.S. shipments were mostly lower.<\/u><\/strong>&nbsp;&nbsp; The NS had the largest percentage decrease and was down by -15.2%.&nbsp; The BN was the sole gainer and was up by 21.1%<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><a><\/a><strong><em>We are watching the Biden Administration and the SPR<\/em><\/strong><\/h4>\n\n\n\n<p><strong><u>The Biden Administration is raising the price the U.S. is willing to pay to refill the Strategic Petroleum Oil Reserves (\u201cSPR\u201d) that the administration drained <\/u><\/strong>in front of the midterms in an attempt to lower gas prices at the pump for the benefit they said of the \u201cAmerican Consumer\u201d.&nbsp; The selling of crude out of the SPR lowered our reserves to the lowest level in 40 years. <strong><u>The Energy Department said in a filing that it will pay as much as $79.99 a barrel.<\/u><\/strong>&nbsp;&nbsp; This is the first time the administration has set an explicit price ceiling and is higher than the previous informal cap of $79 per barrel.<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><a><\/a><strong><em>We Continue to Watch Trans Mountain Pipeline Expansion<\/em><\/strong><\/h4>\n\n\n\n<p><strong><u>With line pack pretty much complete on Trans Mountain, we have yet to see any effect on Enbridge\u2019s system.<\/u><\/strong>\u00a0 Line pack was only 4.2 million barrels representing roughly 1 day of Alberta\u2019s production.\u00a0 Line pack was achieved by dipping into Alberta\u2019s crude oil inventories that stood at 73 million barrels at the end of March according to the Alberta Energy Regulator.\u00a0 Regular flows of crude during the process as a result continued as normal.\u00a0 When inventories get lower (are the highest they have been since December 2022) then we will see how the fundamentals all shake out.<\/p>\n\n\n\n<p>The 598,000 barrel-per-day expansion is now operational, The total capacity of the new pipeline system is 890,000 barrels per day.\u00a0 <strong><u>Construction delays from environmental and indigenous groups raised havoc on the project.<\/u><\/strong>\u00a0 Now there is a dispute with shippers on tolls \u2013 we are watching this one closing \u2013 stay tuned to PFL.<\/p>\n\n\n\n<p class=\"has-text-align-center\"><strong><u>Trans Mountain Pipeline system Map<\/u><\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"624\" height=\"486\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/Transmountain.png\" alt=\"\" class=\"wp-image-14268\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/Transmountain.png 624w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/Transmountain-300x234.png 300w\" sizes=\"auto, (max-width: 624px) 100vw, 624px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-center\"><strong>Source: Trans Mountain &#8211; PFL Analytics<\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><a><\/a><strong><em>We are Watching Renewables<\/em><\/strong><\/h4>\n\n\n\n<p><strong><u>Ethanol rallied last week as it was boosted by a big supply draw &#8211; Ethanol seems to be the only bright spot in the renewable space right now.<\/u><\/strong>&nbsp; Renewable markets are plagued by subsidies that the consumer always pays for.&nbsp; We all know that Solar and Wind are not what they claimed them to be \u2013 we see lots of hidden costs and continued failing business models by the current administration mandates.<\/p>\n\n\n\n<p><strong><u>Solar is great in certain applications and we don\u2019t have anything against using the sun&#8217;s energy to harvest power, however, for solar and wind to be a replacement for conventional energy as well as replacing a big chunk of the grid is a pipedream.<\/u><\/strong> It just does not make any sense from an environmental or economic perspective.<\/p>\n\n\n\n<p><strong><u>Ethanol at Argo closed on Friday of last week at $1.81 per gallon, up 1 and \u00bd of a cent per gallon day over day, and up 8 cents per gallon week over week.<\/u><\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"508\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/ethanol-prices-1024x508.png\" alt=\"\" class=\"wp-image-14269\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/ethanol-prices-1024x508.png 1024w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/ethanol-prices-300x149.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/ethanol-prices-768x381.png 768w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/ethanol-prices.png 1126w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-center\"><strong>Source Data: PFL Analytics<\/strong><\/p>\n\n\n\n<p><strong><u>As it relates to Renewable Diesel\u00a0 &#8211; despite<\/u><\/strong> associated credits together with government incentives that come with it, we are starting to see some problems with that model.\u00a0 Whether they are long-term or just a bump in the road is anybody\u2019s guess but has a big impact on rail at all levels.<\/p>\n\n\n\n<p>1)\u00a0\u00a0\u00a0 <strong><u>There has been a mad rush by bigger companies to hop on the bandwagon to take in tallow and other waste products \u2013 convert it into renewable diesel and sell into the California Market<\/u><\/strong> that gives the producer the benefit of collecting LCFS Credits and D4 RIN credits.\u00a0 The problem is those credits have been collapsing due to an overproduction of D4 RINS and LCFS credits and we don\u2019t think the party to the downside is over anytime soon barring any government intervention \u2013 which in today\u2019s environment could happen! The Renewable diesel producer competes against the Biodiesel producer where Biodiesel is blended with conventional diesel to reduce emissions.\u00a0 Chevron has already shuttered at least 1 biodiesel facility.<\/p>\n\n\n\n<p>2)&nbsp;&nbsp;&nbsp; <strong><u>Renewable diesel plants have had startup problems<\/u><\/strong> \u2013 we are starting to see some length in the C\/I rail car because of this and other factors (Trans Mountain Pipeline coming on stream covered in today&#8217;s report).<\/p>\n\n\n\n<p><strong>3)<\/strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <strong><u>Earnings have come out by some and they are not great for their renewable initiatives<\/u><\/strong><\/p>\n\n\n\n<p>i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <strong><u>&nbsp;&nbsp;<\/u><\/strong><strong><u>Renewable Diesel giant&nbsp; Neste has had a change in management <\/u><\/strong>and has taken a 43.86% hit in their share price this year mainly on the back of falling RIN and LCFS credits they receive for importing renewable diesel into California.<\/p>\n\n\n\n<p>ii)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <strong><u>\u00a0\u00a0Phillips has delayed their startup of the conversion of its refinery in San Francisco<\/u><\/strong> to the 3<sup>rd<\/sup> quarter of this year.\u00a0 Once that refinery comes online it may put pressure on the price received for RINS and LCFS credits.<\/p>\n\n\n\n<p>iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The renewable fuels producer <strong><u>Aemetis<\/u><\/strong> said on Thursday of last week that its renewable segment is showing promise of further revenue growth after receiving permit approval for a sustainable aviation fuel plant, but the company nonetheless <strong><u>reported a $24 million net loss in the quarter ended March 31.<\/u><\/strong><\/p>\n\n\n\n<p>iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <strong><u>HF Sinclair on Wednesday of last week said its renewables segment lost tens of millions of dollars<\/u><\/strong> during the first quarter of 2024 due to weaker prices for Renewable Identification Number credits (D4 RINS) and California Low Carbon Fuel Standard credits, but it&#8217;s not &#8220;giving up&#8221; on its renewable diesel operations, with hopes for the segment to at least break even soon despite macroeconomic headwinds.<\/p>\n\n\n\n<p>v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <strong><u>Calumet Specialty Products on Friday of last week reported a $41.6 million net loss i<\/u><\/strong>n the first quarter, including a $29.1 million loss at its Montana Renewables unit, but company officials remain bullish on renewable fuels production. The company reported net income of $18.6 million in Q1 2023 and a nearly $37 million loss at its renewable fuels operations.<\/p>\n\n\n\n<p><strong><u>RINS continue to trade at or near their lows.<\/u><\/strong>&nbsp;&nbsp; D4 RINS closed on Friday of last week at 46 cents per RIN, up 2 cents per RIN day over day, and up 2 and \u00bd cents per RIN week over week.&nbsp; Meanwhile, D6 RINS also closed at 46 cents per RIN, also up 2 cents per RIN day over day, and up 2 and \u00bd cents per RIN week over week.<\/p>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\"><div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"563\" data-id=\"14270\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/D4-D6-Rins-1024x563.png\" alt=\"\" class=\"wp-image-14270\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/D4-D6-Rins-1024x563.png 1024w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/D4-D6-Rins-300x165.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/D4-D6-Rins-768x422.png 768w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/D4-D6-Rins.png 1119w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div><\/figure>\n\n\n\n<p><strong><u>LCFS credits in California broke $50 per MT<\/u><\/strong> closing on Friday of last week at $48 per MT.&nbsp; Meanwhile, Oregon\u2019s Clean Fuels Program (CFP) Credit closed at $61 per MT on Friday of last week.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"590\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/LCFS-Creds-1024x590.png\" alt=\"\" class=\"wp-image-14271\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/LCFS-Creds-1024x590.png 1024w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/LCFS-Creds-300x173.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/LCFS-Creds-768x443.png 768w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/LCFS-Creds.png 1074w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>We are watching Shipping Routes \u2013 China Continues to Knock on our Door<\/em><\/strong><\/h4>\n\n\n\n<p>New shipping routes highlight growing Asia-to-Mexico trade &#8211; Cosco launched express shipping services connecting Asian countries to Mexico.&nbsp; <strong><u>Cosco has started offering container shipping services from Asia directly to Mexico, calling at locations such as the Port of Manzanillo on the Pacific Coast.<\/u><\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><u>Port of Manzanillo<\/u><\/strong><\/h4>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"624\" height=\"305\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/Port-of-Manzanillo.png\" alt=\"\" class=\"wp-image-14272\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/Port-of-Manzanillo.png 624w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2024\/05\/Port-of-Manzanillo-300x147.png 300w\" sizes=\"auto, (max-width: 624px) 100vw, 624px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-center\"><strong>Source:&nbsp; Freight Waves &#8211; PFL Analytics<\/strong><\/p>\n\n\n\n<p><strong><u>The shipping lanes became operational on Monday of last week,<\/u><\/strong> as several global ocean carriers have initiated services targeting Asia-to-Mexico trade.&nbsp; In addition to Cosco, global ocean carriers Mediterranean Shipping Co. and CMA CGM have launched services to tap into soaring container volumes and growing investment in Mexico by Chinese companies.<\/p>\n\n\n\n<p>Cosco Shipping Lines and its subsidiary OOCL\u2019s new Transpacific Latin Pacific 5 (TLP5) line offer direct connections between China, South Korea, Japan, and Mexico.<\/p>\n\n\n\n<p><strong><u>Import container bookings from China to Mexico have skyrocketed over the past year,<\/u><\/strong> with Chinese direct investments in the country increasing 11% year over year in 2023 to $135 billion.<\/p>\n\n\n\n<p><strong><u>What is driving the demand<\/u><\/strong> for more ocean container service between the two countries?\u00a0 Experts have said the nearshoring of manufacturing to Mexico to the ongoing geopolitical tensions between the U.S. and China are reasons for the surge in shipments from China to Mexico.<\/p>\n\n\n\n<p><strong><u>US-Mexico trade topped $200B in the first quarter of 2024<\/u><\/strong> and is up 44% year over year and 145% since March 1.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Lease Bids<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>25, 30K 117R Tanks needed off of in for 2-3 Year. Cars are needed for use in Condensate service.<\/li>\n\n\n\n<li>100, 15.5K DOT 111 Tanks needed off of Any Class 1 in USA for 1-3 Years. Cars are needed for use in Molten Sulfur service.<\/li>\n\n\n\n<li>50, 30K 117 Tanks needed off of BNSF or UP in TX for 3-6 Months. Cars are needed for use in Crude service. will look at smaller cars. Prefer short term would look at longer term. Domestic use only<\/li>\n\n\n\n<li>20, 25.5k CPC 1232 Tanks needed off of UP or BN in Ok, TX for 3 Year. Cars are needed for use in Asphalt service.<\/li>\n\n\n\n<li>100, 25.5K DOT 111 Tanks needed off of Any Class 1 in Texas for 3 Years +. Cars are needed for use in Asphalt service.<\/li>\n\n\n\n<li>30, 29K 117J Tanks needed off of BN or CN in Houston or Edmonton for 1-2 Year. Cars are needed for use in Biodiesel service.<\/li>\n\n\n\n<li>200-400, 30K DOT 111 Tanks needed off of UP or BN in Houston for 2 Year. Cars are needed for use in Gas\/Diesel service. 1-2 Year<\/li>\n\n\n\n<li>10, 25.5K-28.3K DOT 111 Tanks needed off of UP or BN in Houston for 2 Year. Cars are needed for use in Resin service.<\/li>\n\n\n\n<li>100-200, 5200 Covered Hoppers needed off of UP, BNSF in Gulf area for 1-2 years. Cars are needed for use in Petcoke service. Open to smaller cube or longer term<\/li>\n\n\n\n<li>10, 28.3K 117J Tanks needed off of UP or BN in Texas for 3 Year.<\/li>\n\n\n\n<li>25-30, 23.5K or 25.5K Dot 111 or CPC 1232 Tanks needed off of UP or BN in TX, OK, or AR for 3-5 Years. Cars are needed for use in Asphalt service. Needed ASAP., Lined or Unlined. Splash Load<\/li>\n\n\n\n<li>100, 30K Dot 111, CPC 1232, DOT 117R, DOT 117J Tanks needed off of CP or CN in Edmonton for 1 Year. Cars are needed for use in Diesel service.<\/li>\n\n\n\n<li>250, 4000 Rapid Hoppers needed off of BNSF in TX IL for 5 years. Cars are needed for use in Coal service. in rotary\/rapid cars with the electric dumping shoe<\/li>\n\n\n\n<li>4, 6260 Covered Hoppers needed off of CSX in Bostick, NC for 2-4 Years. Cars are needed for use in Polypropene Pellets service.<\/li>\n\n\n\n<li>80, 30K 117R or 117J Tanks needed off of UP in Nebraska for 12 Months. Cars are needed for use in Ethanol service.<\/li>\n\n\n\n<li>100, 30K Dot 111 or CPC 1232 Tanks needed off of UP or BN in New Orleans\/Pasadena for 6-12 Months. Cars are needed for use in Gasoline\/Diesel service.<\/li>\n\n\n\n<li>80, 29k 117R or 117J Tanks needed off of Any Class 1 in Kentucky for 1-5 Years. Cars are needed for use in Crude service.<\/li>\n\n\n\n<li>50, 19k DOT111 Tanks needed off of UP or BN in Nevada or CA for 1 year. Cars are needed for use in Sulfuric Acid service. March or April<\/li>\n\n\n\n<li>8, 28-30K Any Tanks needed off of UP BN in Texas and Gulf for 5 years. Cars are needed for use in Chlorobenzene service. Need Magrods<\/li>\n\n\n\n<li>14, 23.5K DOT111 Tanks needed off of UP in Morrilton, AR for 1 year. Cars are needed for use in Turpentine service.<\/li>\n\n\n\n<li>10, 30k any Tanks needed off of UP BN in Texas for 1 year plus. Cars are needed for use in Fuel Oil service.<\/li>\n\n\n\n<li>25-50, 5000CF-5100CF Covered Hoppers needed off of BNSF, CSX, KCS, UP in Gulf LA for 3-10 years. Cars are needed for use in Dry sugar service. 3 bay gravity dump, Hempel 37700<\/li>\n\n\n\n<li>25, 3230 PD Hoppers needed off of NS or CSX in Ohio for 5 years. Cars are needed for use in Flyash service.<\/li>\n\n\n\n<li>50, 23.5-25.5 DOT111 Tank s needed off of Any Class 1 in USA for 5 years. Cars are needed for use in Asphalt service.<\/li>\n\n\n\n<li>10, 2500CF Open Top Hoppers needed off of UP or BN in Texas for 5 years. Cars are needed for use in aggregate service. Need Rapid Discharge Doors<\/li>\n\n\n\n<li>50-100, 4550 Covered Hoppers needed off of UP or BN in Texas for 5 years. Cars are needed for use in Grain service.<\/li>\n\n\n\n<li>25, 20.5K CPC1232 or DOT117J Tanks needed off of BNSF or UP in the west for 3-5 years. Cars are needed for use in Magnesium chloride service. SDS onhand<\/li>\n\n\n\n<li>15, 28.3K DOT117J Tanks needed off of any class 1 in any location for 3 years. Cars are needed for use in Glycerin &amp; Palm Oil service.<\/li>\n\n\n\n<li>30, 17K-20K DOT117J Tanks needed off of UP or BN in Midwest\/West Coast for 3-5 years. Cars are needed for use in Caustic service.<\/li>\n\n\n\n<li>150, 23.5K DOT111 Tanks needed off of any class 1 in LA for 2-3 years. Cars are needed for use in Fluid service. Needed July<\/li>\n\n\n\n<li>10, 5200cf PD Hoppers needed off of UP in Colorado for 1-3 years. Cars are needed for use in Silica service. Call for details<\/li>\n\n\n\n<li>10, 30K 117R or 117J Tanks needed off of Any Class 1 in USA for 1 year. Cars are needed for use in Glycerin service.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Sales Bids<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>10, 2770 Mill Gondolas needed off of any class 1 in St. Louis. Cars are needed for use in Cement service.<\/li>\n\n\n\n<li>20, 2770-3400 Mill Gondolas needed off of any class 1 in South Texas. Cars are needed for use in scrap metal service.<\/li>\n\n\n\n<li>100-150, 3400CF Covered Hoppers needed off of UP BN in Texas. Cars are needed for use in Sand service.<\/li>\n\n\n\n<li>20-30, 3000 &#8211; 3300 PD Hoppers needed off of BN or UP preferred in West. Cars are needed for use in Cement service. C612<\/li>\n\n\n\n<li>20-30, Open Top Hoppers needed off of NS or CSX in Northeast. Cars are needed for use in aggregate service. Gravity dump<\/li>\n\n\n\n<li>5, 23,5K DOT 111 Tanks needed off of any class 1 in Texas. Negotiable<\/li>\n\n\n\n<li>20, 17K DOT111 Tanks needed off of various class 1s in various locations. Cars are needed for use in corn syrup service.<\/li>\n\n\n\n<li>100, 15.7K DOT111 Tanks needed off of CSX or NS in the east. Cars are needed for use in Molten Sulfur service.<\/li>\n\n\n\n<li>30, 17K-20K DOT111 Tanks needed off of UP or BN in Texas. Cars are needed for use in UAN service.<\/li>\n\n\n\n<li>2-4, 28K DOT111 Tanks needed off of BNSF Preferred in Minnesota. Cars are needed for use in Biodiesel service. Coiled and insulated<\/li>\n\n\n\n<li>5, 30K DOT 111 Tanks needed off of in US. Cars are needed for use in Fuels service.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Lease Offers<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>200-500, 5200, Covered Hoppers located off of CN and NS in Moving on CN and NS. Cars were last used in Grain. Lease available until Fall.<\/li>\n\n\n\n<li>50, ~5400, covered Hoppers located off of NS, IORY in MI. Cars were last used in bean meal. 1 year<\/li>\n\n\n\n<li>53, 2 containers, Flats Intermodel Double Stacks located off of KCS in Texas. Cars are clean Lease or sell<\/li>\n\n\n\n<li>100, 33K, 340W Pressures located off of CN or CP in Canada. Cars are clean<\/li>\n\n\n\n<li>125, 28.3K, 117J Tanks located off of Various Class 1s in Multiple locations. Cars are clean Long Term Lease, 5 Years +<\/li>\n\n\n\n<li>50, 28.3K, AAR 211 Tanks located off of BN in Moving. Cars were last used in Biodiesel. 1 Year Lease; Free Move on BN<\/li>\n\n\n\n<li>15, 29.2, DOT 111 Tanks located off of UP or BN in Houston. Cars were last used in Sunflower Oil. 1 Year<\/li>\n\n\n\n<li>15, 25.5, DOT 111 Tanks located off of UP or BN in Houston. Cars were last used in Sunflower Oil. 1 Year<\/li>\n\n\n\n<li>100+, 29K, 117R Tanks located off of All Class Ones in St Louis. Cars were last used in Veg Oils. Up to 4 Years<\/li>\n\n\n\n<li>100+, 29K, 117J Tanks located off of All Class Ones in St Louis. Cars were last used in Veg Oils. Returned by end of 2026<\/li>\n\n\n\n<li>15, 33K, 340W Tanks located off of All Class Ones in North America. Cars were last used in Propane\/Butane. Up to 1 year.<\/li>\n\n\n\n<li>100, 30K, 117J Tanks located off of UP or BN in Texas. Cars were last used in Ethanol. Up to 1 year. Must go into ethanol service.<\/li>\n\n\n\n<li>200, 117J Tanks located off of CPKC in Moving. Cars were last used in Crude. 6-12 Months<\/li>\n\n\n\n<li>25, 400W Pressure Tanks located off of IHB in Hammond, IN. Cars were last used in propylene . 1 year term.<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Sales Offers<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>20, Refer Boxcars located off of UP in ID.<\/li>\n\n\n\n<li>100-300, 3400, Covered Hoppers located off of various class 1s in multiple locations. Sand Cars<\/li>\n\n\n\n<li>100, 28.3K, DOT117J Tanks located off of various class 1s in multiple locations.<\/li>\n\n\n\n<li>100, 17K, DOT111 Tanks located off of various class 1s in multiple locations.<\/li>\n\n\n\n<li>100, 19K, DOT111 Tanks located off of various class 1s in multiple locations.<\/li>\n\n\n\n<li>19, 4400, Rotary Gondolas located off of UP and BN in California and Wyoming.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-text-align-center\"><strong>Call PFL today to discuss your needs and our availability and market reach. Whether you are looking to lease cars, lease out cars, buy cars, or sell cars call PFL today at 239-390-2885<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<style>\r\n    #map {\r\n        height: 600px;\r\n        width: 100%;\r\n    }\r\n    #filterBar {\r\n        text-align: center;\r\n        margin: 20px 0;\r\n    }\r\n    table {\r\n        width: 100%;\r\n        border-collapse: collapse;\r\n        margin-top: 10px;\r\n        font-family: sans-serif;\r\n    }\r\n    th {\r\n        background-color: #020f52;\r\n        color: white;\r\n        padding: 8px;\r\n        border: 1px solid #ccc;\r\n        text-align: left;\r\n    }\r\n    td {\r\n        padding: 8px;\r\n        border: 1px solid #ccc;\r\n    }\r\n    tbody tr:nth-child(odd) {\r\n        background-color: #f9f9f9;\r\n    }\r\n    tbody tr:nth-child(even) {\r\n        background-color: #e8e8e8;\r\n    }\r\n    tr:nth-of-type(odd){background-color:#d7f6f7}\r\n    td{border:1px solid #ccc;padding:8px}\r\n#map{height:350px;max-width:100%}#dataTable,table{border-collapse:collapse;width:100%;height:400px;display:block;overflow:hidden;overflow-y:auto}th{background-color:#020f52;color:#fff;text-align:center;position:sticky;top:0},tr{border:1px solid #000}<\/style>\r\n<h3 align=\"center\">Live Railcar Markets<\/h3>\r\n            <style>.custom-table{width:100%;border-collapse:collapse}.custom-table td,.custom-table th{border:1px solid #ccc;padding:8px}body{margin:0;padding:0}.tab-container{display:flex}.tab{cursor:pointer;padding:10px;border:1px solid #ccc}.tab.active{background-color:#f0f0f0}.table-container{max-height:400px;overflow-y:auto}<\/style>\r\n                <div class=\"tab-container\">\r\n        <div class=\"tab active\" onclick='showTable(\"leaseOfferTable\", this)'>Lease Offers<\/div>\r\n        <div class=\"tab\" onclick='showTable(\"leaseBidsTable\", this)'>Lease Bids<\/div>\r\n        <div class=\"tab\" onclick='showTable(\"salesOffersTable\", this)'>Sales Offers<\/div>\r\n        <div class=\"tab\" onclick='showTable(\"salesBidsTable\", this)'>Sales Bids<\/div>\r\n    <\/div>\r\n    <div class=\"table-container\">\r\n        <table id=\"leaseOfferTable\" class=\"custom-table\" style=\"display:table\">\r\n            <thead>\r\n                <tr><th>CAT<\/th><th>Type<\/th><th>Capacity<\/th><th>GRL<\/th><th>QTY<\/th><th>LOC<\/th><th>Class<\/th><th>Prev. Use<\/th><th>Offer<\/th><th>Note<\/th><\/tr>\r\n            <\/thead>\r\n            <tbody><\/tbody>\r\n        <\/table>\r\n    <\/div>\r\n    <div class=\"table-container\">\r\n        <table id=\"leaseBidsTable\" class=\"custom-table\" style=\"display:none\">\r\n            <thead>\r\n                <tr><th>CAT<\/th><th>Type<\/th><th>Size<\/th><th>GRL<\/th><th>QTY<\/th><th>LOC<\/th><th>Class1<\/th><th>Term<\/th><th>Commodity<\/th><th>Offer<\/th><th>Note<\/th><\/tr>\r\n            <\/thead>\r\n            <tbody><\/tbody>\r\n        <\/table>\r\n    <\/div>\r\n    <div class=\"table-container\">\r\n        <table id=\"salesOffersTable\" class=\"custom-table\" style=\"display:none\">\r\n            <thead>\r\n                <tr><th>CAT<\/th><th>Type<\/th><th>Capacity<\/th><th>GRL<\/th><th>QTY<\/th><th>LOC<\/th><th>Class<\/th><th>Prev. Use<\/th><th>Clean<\/th><th>Offer<\/th><th>Note<\/th><\/tr>\r\n            <\/thead>\r\n            <tbody><\/tbody>\r\n        <\/table>\r\n    <\/div>\r\n    <div class=\"table-container\">\r\n        <table id=\"salesBidsTable\" class=\"custom-table\" style=\"display:none\">\r\n            <thead>\r\n                <tr><th>CAT<\/th><th>Type<\/th><th>Capacity<\/th><th>GRL<\/th><th>QTY<\/th><th>LOC<\/th><th>Class1<\/th><th>Commodity<\/th><th>Offer<\/th><th>Note<\/th><\/tr>\r\n            <\/thead>\r\n            <tbody><\/tbody>\r\n        <\/table>\r\n    <\/div>\r\n\r\n    <script>\r\n    function showTable(tableId, tabElement) {\r\n        const tables = document.querySelectorAll(\".custom-table\");\r\n        tables.forEach(table => table.style.display = \"none\");\r\n        document.getElementById(tableId).style.display = \"table\";\r\n        const tabs = document.querySelectorAll(\".tab\");\r\n        tabs.forEach(tab => tab.classList.remove(\"active\"));\r\n        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'leaseOfferTable');\r\n    fetchData('https:\/\/manifest.pflpetroleum.com\/api\/lease_bids.php', 'leaseBidsTable');\r\n    fetchData('https:\/\/manifest.pflpetroleum.com\/api\/sales_offer.php', 'salesOffersTable');\r\n    fetchData('https:\/\/manifest.pflpetroleum.com\/api\/sales_bids.php', 'salesBidsTable');\r\n    <\/script>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\">PFL will be at the Following Conferences<\/h4>\n\n\n\n<figure class=\"wp-block-image size-full\">\r\n\t<img decoding=\"async\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/03\/Stampede-2026.jpg\" alt=\"Stampede\" class=\"wp-image-11405\"\/>\r\n<\/figure>\r\n<font color=\"black\">\r\n\t<ul>\r\n\t\t<li>Where: Calgary<\/li>\r\n\t\t<li>Attending: David Cohen (954-729-4774), Curtis Chandler(239-405-3365), Cyndi Popov (403-402-5043)   <\/li>\r\n\t<\/ul>\r\n<\/font>\r\n\r\n<figure class=\"wp-block-image size-full\">\r\n\t<img decoding=\"async\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2026\/03\/Mars-Lake-Geneva-2026.jpg\" alt=\"swars\" class=\"wp-image-11405\"\/>\r\n<\/figure>\r\n<font color=\"black\">\r\n\t<ul>\r\n\t\t<li>Where: Grand Geneva Resor<\/li>\r\n\t\t<li>Attending: Brian Baker (239.297.4519) <\/li>\r\n\t\t<li><a href=\"https:\/\/www.mwrailshippers.com\/event\/2026-summer-meeting\/\" target=\"_blank\" rel=\"noreferrer noopener\">Conference Website<\/a><\/li>\r\n\t<\/ul>\r\n<\/font>\n","protected":false},"excerpt":{"rendered":"<p>\u201cTo effectively communicate, we must realize that we are all different in the way we perceive the world and use this understanding as a guide to our communication with others.\u201d &#8211; Tony Robbins Jobs Update Stocks closed mixed on Friday of last week, but higher week over week The DOW closed higher on Friday of [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":748,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-14237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-railcar-report"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The PFL Railcar Market Report for May 13, 2024<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pflpetroleum.com\/reports\/pfl-railcar-report-5-13-2024\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Curtis Chandler\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"21 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/pfl-railcar-report-5-13-2024\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/pfl-railcar-report-5-13-2024\\\/\"},\"author\":{\"name\":\"Curtis Chandler\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/b52cec883a82d94540b07fb1f9e49319\"},\"headline\":\"PFL Railcar Report 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(CEI) &amp; Chandler Energy Resources Inc. These companies quickly became prominent players in the Canadian natural gas market, moving substantial volumes of gas to customers in North America. Chandler Energy Resources collaborated with Dominion Energy &amp; Sabine to develop an underground natural gas storage facility near Edmonton, Alberta. Following these successes, Curtis established Intercontinental Energy Brokers in 1997, which emerged as a leading gas &amp; power broker in Europe before being sold to ICAP in 2003. 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He served as the Principal &amp; Director of Blackstone Energy Services Inc. &amp; played a crucial role as the Managing Director of Collingwood Ethanol L.P. He also worked as a Partner at Intercontinental Energy Brokers Inc., specializing in derivatives. Curtis's also served as the Director of Marketing &amp; Supply at Novagas Clearinghouse Ltd., a subsidiary of Dynegy Canada Inc. Additionally, he held the position of VP at Great West Energy Ltd., a subsidiary of Bow Valley Energy Inc., where he played an instrumental role in establishing the company. Curtis also co-founded of Great West Energy with his father in 1988. During the rapid growth of Great West Energy, Curtis oversaw information systems, managed supply purchasing &amp; sales, &amp; played a pivotal role in new market development. Curtis also worked as a market maker at Novagas, responsible for pricing decisions across all regions of Canada. In 1994, he co-founded Chandler Energy Inc. (CEI) &amp; Chandler Energy Resources Inc. These companies quickly became prominent players in the Canadian natural gas market, moving substantial volumes of gas to customers in North America. Chandler Energy Resources collaborated with Dominion Energy &amp; Sabine to develop an underground natural gas storage facility near Edmonton, Alberta. Following these successes, Curtis established Intercontinental Energy Brokers in 1997, which emerged as a leading gas &amp; power broker in Europe before being sold to ICAP in 2003. Curtis Chandler's notable achievements and diverse experiences position him as a respected figure in the energy and rail industries.","url":"https:\/\/pflpetroleum.com\/reports\/author\/curtis\/"}]}},"blog_post_layout_featured_media_urls":{"thumbnail":["https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2020\/05\/RailcarReport-150x150.jpg",150,150,true],"full":["https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2020\/05\/RailcarReport.jpg",1920,1079,false]},"categories_names":{"17":{"name":"Railcar Report","link":"https:\/\/pflpetroleum.com\/reports\/category\/railcar-report\/"}},"tags_names":[],"comments_number":"0","_links":{"self":[{"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/posts\/14237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/comments?post=14237"}],"version-history":[{"count":10,"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/posts\/14237\/revisions"}],"predecessor-version":[{"id":14282,"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/posts\/14237\/revisions\/14282"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/media\/748"}],"wp:attachment":[{"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/media?parent=14237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/categories?post=14237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pflpetroleum.com\/reports\/wp-json\/wp\/v2\/tags?post=14237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}