{"id":4304,"date":"2021-09-07T04:23:00","date_gmt":"2021-09-07T08:23:00","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=4304"},"modified":"2023-07-28T10:48:31","modified_gmt":"2023-07-28T14:48:31","slug":"pfl-railcar-report-9-7-2021","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/pfl-railcar-report-9-7-2021\/","title":{"rendered":"PFL Railcar Report 9-7-2021"},"content":{"rendered":"\n<p class=\"has-text-align-center wp-block-paragraph\"><span style=\"background-color: rgba(0, 0, 0, 0.2);\"><b><strong>\u201c<em>Never tell people how to do things. Tell them what to do and they will surprise you with their ingenuity. Delegation involves putting others in charge but being willing to take ultimate responsibility<\/em>\u201d <\/strong><\/b><\/span><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><span style=\"background-color: rgba(0, 0, 0, 0.2);\"><b><strong>-General George Patton<\/strong><\/b><\/span><\/p>\n\n\n\n<center><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/GjngOkMLKN0?start=31\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/center>\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>Jobs Update<\/strong><\/h4>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Weekly jobless claims are down week over week, but remain elevated.<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><u>Initial jobless claims for the week ended August 28 came in at 340,000,<\/u><\/strong> down 13,000 people week over week and the lowest level since COVID.<\/li>\n\n\n\n<li><strong><u>Continuing claims came in at 2.748 million people versus 2.862 million from<\/u><\/strong> the week prior.&nbsp; Down 114,000 people week over week.<\/li>\n\n\n\n<li>On September 3, 2021, the Bureau of Labor Statistics issued the employment report which released nonfarm payroll <strong><u>job growth in August that increased by just 235,000<\/u><\/strong> people versus expectations of 720,000 people.<\/li>\n\n\n\n<li><strong><u>The unemployment rate fell to 5.2% from 5.4%.<\/u><\/strong><\/li>\n\n\n\n<li>Leisure and hospitality jobs were flat during the month after leading the way for much of the year.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"794\" height=\"373\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/unemployment-rate-9621.png\" alt=\"\" class=\"wp-image-4306\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/unemployment-rate-9621.png 794w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/unemployment-rate-9621-300x141.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/unemployment-rate-9621-768x361.png 768w\" sizes=\"auto, (max-width: 794px) 100vw, 794px\" \/><figcaption class=\"wp-element-caption\"><strong><span class=\"has-inline-color has-black-color\">Source Data: The Bureau of Labor Statistics \u2013 PFL Analytics<\/span><\/strong><\/figcaption><\/figure>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Stocks closed mixed on Friday of last week and mixed week over week<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>The Dow closed lower on Friday of last week, down -74.73 points (-.21%)<\/u><\/strong> closing out the week at 35,369.09, down -86.71 points week over week.&nbsp; <strong><u>The S&amp;P 500 closed lower on Friday of last week, down -1.52 points (+0.03%) <\/u><\/strong>and closing out the week at 4,535.43, up +26.08 points week over week. &nbsp;&nbsp;<strong><u>The Nasdaq closed higher on Friday of last week, up +32.34 points (+0.21%) <\/u><\/strong>and closing out the week at 15,363.52 up +234.02 points week over week.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In overnight trading, DOW futures traded higher and are expected to open down this morning<strong> 5 <\/strong>points.<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Oil slipped on Friday of last week on the back of a weaker than expected jobs report.<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>Oil prices fell on Friday after a weaker than expected U.S. jobs report which indicated a patchy economic recovery that could mean slower fuel demand during a resurgent pandemic.&nbsp; &nbsp;<\/u><\/strong><strong><u>West Texas Intermediate (WTI) for October delivery declined 70 cents a barrel <\/u><\/strong>to settle at $69.29 a barrel on Friday of last week, up 55 cents a barrel week over week.&nbsp; <strong><u>Brent crude oil settled down 42 cents a barrel <\/u><\/strong>on Friday of last week closing at $72.61 a barrel, down 9 cents a barrel week over week.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 7.2 million barrels week over week.<\/u><\/strong> At 425.4 million barrels, U.S. crude oil inventories are 6% below the five-year average for this time of year.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"925\" height=\"424\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/Weekly-crude-stocks-9-6-21.png\" alt=\"\" class=\"wp-image-4307\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/Weekly-crude-stocks-9-6-21.png 925w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/Weekly-crude-stocks-9-6-21-300x138.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/Weekly-crude-stocks-9-6-21-768x352.png 768w\" sizes=\"auto, (max-width: 925px) 100vw, 925px\" \/><figcaption class=\"wp-element-caption\"><strong><span class=\"has-inline-color has-black-color\">Source Data: EIA \u2013 PFL Analytics<\/span><\/strong><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><strong><u>Total motor gasoline inventories increased by 1.3 million barrels<\/u><\/strong> <\/strong>week over week and are 2% below the five-year average for this time of year. Finished gasoline and blending components inventories both increased for the week ending August 27<sup>th<\/sup>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"932\" height=\"410\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/US-Ending-Stocks-Gas-9-6-21.png\" alt=\"\" class=\"wp-image-4308\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/US-Ending-Stocks-Gas-9-6-21.png 932w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/US-Ending-Stocks-Gas-9-6-21-300x132.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/US-Ending-Stocks-Gas-9-6-21-768x338.png 768w\" sizes=\"auto, (max-width: 932px) 100vw, 932px\" \/><figcaption class=\"wp-element-caption\"><strong><span class=\"has-inline-color has-black-color\">Source Data: EIA \u2013 PFL Analytics<\/span><\/strong><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>Distillate fuel inventories decreased by 1.7 million barrels<\/u><\/strong> week over week and are 9% below the five-year average for this time of year.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"919\" height=\"399\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/Weekly-distillate-fuel-9-6-21.png\" alt=\"\" class=\"wp-image-4309\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/Weekly-distillate-fuel-9-6-21.png 919w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/Weekly-distillate-fuel-9-6-21-300x130.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/Weekly-distillate-fuel-9-6-21-768x333.png 768w\" sizes=\"auto, (max-width: 919px) 100vw, 919px\" \/><figcaption class=\"wp-element-caption\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-black-color\"><strong>Source Data: EIA \u2013 PFL Analytics<\/strong><\/mark><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>Propane\/propylene inventories increased by 500,000 barrels<\/u><\/strong> week over week and are 20% below the five-year average for this time of year. &nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"919\" height=\"399\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/Weekly-propro-9-6-21.png\" alt=\"\" class=\"wp-image-4310\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/Weekly-propro-9-6-21.png 919w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/Weekly-propro-9-6-21-300x130.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/Weekly-propro-9-6-21-768x333.png 768w\" sizes=\"auto, (max-width: 919px) 100vw, 919px\" \/><figcaption class=\"wp-element-caption\"><strong><span class=\"has-inline-color has-black-color\">Source Data: EIA \u2013 PFL Analytics<\/span><\/strong><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>Overall total commercial petroleum inventories decreased by 13.6 million barrels week over week.<\/u><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>U.S. crude oil imports averaged 6.3 million barrels<\/u><\/strong> per day for the week ending August 27, 2021, up by 183,000 barrels per day week over week. Over the past four weeks, crude oil imports averaged 6.3 million barrels per day, 13.9% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) for the week ending August 27, 2021 averaged 1.1 million barrels per day, and distillate fuel imports averaged 364,000 barrels per day.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"916\" height=\"399\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/net-input-of-crude-9-6-21.png\" alt=\"\" class=\"wp-image-4311\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/net-input-of-crude-9-6-21.png 916w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/net-input-of-crude-9-6-21-300x131.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/net-input-of-crude-9-6-21-768x335.png 768w\" sizes=\"auto, (max-width: 916px) 100vw, 916px\" \/><figcaption class=\"wp-element-caption\"> <strong><span class=\"has-inline-color has-black-color\">Source Data: EIA \u2013 PFL Analytics<\/span><\/strong> <\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>U.S. crude oil refinery inputs averaged 15.9 million barrels<\/u><\/strong> per day during the week ending August 27<sup>th<\/sup>, 2021 which was 133,000 barrels per day less week over week. Refineries operated at 91.3% of their operable capacity for the week ending August 27<sup>th<\/sup>. Gasoline production decreased week over week, averaging 9.9 million barrels per day. Distillate fuel production decreased week over week, averaging 4.8 million barrels per day.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>As of the writing of this report, WTI is poised to open at $69.02, down 27 cents per barrel from Friday\u2019s close.&nbsp;<\/u><\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>North American Rail Traffic<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>Total North American rail volumes were down 1.0% year over year in week 34<\/u><\/strong> (U.S. -0.7%, Canada -0.1%, Mexico -8.6%) resulting in quarter to date volumes that are up 1.3% year over year and year to date volumes that are up 9.6% year over year (U.S. +10.8%, Canada +6.7%, Mexico +5.5%). 4 of the AAR&#8217;s 11 major traffic categories posted year over year decreases with the largest declines coming from intermodal (-4.6%) and grain (-24.4%). The largest increases came from coal (+13.2%) and metallic ores &amp; metals (+24.3%).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>In the East, CSX\u2019s total volumes were up 2.1%,<\/u><\/strong> with the largest increase coming from coal (+24.7%). The largest decrease came from motor vehicles &amp; parts (-18.7%). <strong><u>NS\u2019s total volumes were down 5.4%,<\/u><\/strong> with the largest decrease coming from intermodal (-10.4%). The largest increases came from metals &amp; products (+37.1%) and petroleum (+68.3%).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the West, <strong><u>BN\u2019s total volumes were up 1.2%,<\/u><\/strong> with the largest increase coming from intermodal (+3.1%). The largest decrease came from grain (-38.3%). <strong><u>UP\u2019s total volumes were up 3.2%,<\/u><\/strong> with the largest increases coming from coal (+16.3%) and chemicals (+11.7%). The largest decreases came from intermodal (-4.4%) and motor vehicles &amp; parts (-30.4%).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In Canada, <strong><u>CN\u2019s total volumes were up 2.0%,<\/u><\/strong> with the largest increases coming from coal (+146.1%) and metallic ores (+30.5%). The largest decrease came from intermodal (-6.8%). RTMs were down 0.4%. <strong><u>CP\u2019s total volumes were down 1.0%,<\/u><\/strong> with the largest decrease coming from grain (-43.1%). The largest increase came from intermodal (+11.3%). RTMs were down 8.1%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>KCS\u2019s total volumes were down 2.6%,<\/u><\/strong> with the largest decrease coming from intermodal (-15.1%)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Source: Stephens<\/em><\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>Rig Count<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>North American rig count is down by 6 rigs week over week.&nbsp; The U.S. rig count was down by 11 rigs week over week<\/u><\/strong> and up by 241 rigs year over year. The U.S. currently has 497 active rigs. Canada\u2019s<strong><u> rig count was up by 5 rigs week over week, and up by 100 rigs year over year<\/u><\/strong> and Canada\u2019s overall rig count is 152 active rigs.&nbsp; Overall, <strong><u>year over year we are up 341 rigs collectively.<\/u>&nbsp; <\/strong>International rig count was just released and we are up 26 rigs month over month and up 30 rigs year over year.&nbsp; International rig count overall has 777 active rigs.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong>North American Rig Count Summary<\/strong><\/h4>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"720\" height=\"118\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/narc-9-6-21.png\" alt=\"\" class=\"wp-image-4312\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/narc-9-6-21.png 720w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/narc-9-6-21-300x49.png 300w\" sizes=\"auto, (max-width: 720px) 100vw, 720px\" \/><\/figure>\n<\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"804\" height=\"395\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/rig-count-summary-9-6-21.png\" alt=\"\" class=\"wp-image-4313\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/rig-count-summary-9-6-21.png 804w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/rig-count-summary-9-6-21-300x147.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/rig-count-summary-9-6-21-768x377.png 768w\" sizes=\"auto, (max-width: 804px) 100vw, 804px\" \/><figcaption class=\"wp-element-caption\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-black-color\"><strong>Source Data: Baker Hughes \u2013 PFL Analytics<\/strong><\/mark><\/figcaption><\/figure>\n<\/div>\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><u>A few things we are keeping an eye on:<\/u><\/strong><\/h4>\n\n\n\n<ol class=\"wp-block-list\" type=\"1\">\n<li><strong><u>STB Rejects CN Voting Trust \u2013 CP seems to be well positioned <\/u><\/strong>\u2013 last week the STB denied the use of CN\u2019s voting trust, on the notion that it did not meet the standards under the current merger regulations. <strong><u>The Board made it very clear that due to competitive risk, downstream effects, and the Executive Order, they would likely not support the deal itself not only because of its failure to meet public interest, but also to preserve and protect \u201cthe small number of remaining Class I railroads.<\/u><\/strong>\u201d CP hosted a conference call with investors and stated they will not be changing their bid (valued at the time at $300 Million), and KSU has until September 12 to make a decision. The KCS announced that it adjourned its shareholder vote to September 24, and we await a move from CN. <strong><u>Given the clear tone from the STB, we believe the CN will walk away from the deal.<\/u><\/strong><br><\/li>\n\n\n\n<li><strong><u>Petroleum by Rail<\/u><\/strong> \u2013 The four-week rolling average of petroleum carloads carried on the six largest North American railroads <strong><u>was up from 24,902 to 25,248, a gain of 346 rail cars week over week. <\/u><\/strong>Canadian volumes were up &#8211; CN shipments were up by 1.8% and CP shipments were up by 3.6%.&nbsp; U.S. volumes were mostly higher with the CSX having the largest percentage increase up 2.8% while UP\u2019s shipments fell by 6.5%.<br><\/li>\n\n\n\n<li><strong><u>The fall out of Domestic Energy Infrastructure after the passing of Hurricane Ida<\/u><\/strong> \u2013 Hurricane Ida was the worst storm since Katrina, and knocked out an estimated 94% of offshore Gulf oil production, as well as power to one million homes across Louisiana and Mississippi. WTI crude prices jumped 10% on Monday of last week to $69 and after a volatile week settled up week over week crude oil ended up closing at $69.29 a barrel.&nbsp; It has been difficult for companies to get an exact handle on overall damage, but final numbers are going to be north of $50 billion all in (residential, commercial and industrial).&nbsp;&nbsp; From a 30,000-foot level here is what we know:<br>\n<ul class=\"wp-block-list\">\n<li>U.S. Government is going to loan ExxonMobil 1.5 million barrels of crude oil from the Strategic Petroleum Reserve (\u201cSPR\u201d).<\/li>\n\n\n\n<li>U.S. Government is going to lend 300,000 barrels of crude from the SPR to Placid Refining.<\/li>\n\n\n\n<li>Electricity is still out in many areas and expected to be down for weeks.<\/li>\n\n\n\n<li>Repairs are underway on Louisiana\u2019s \u201cLOOP \u201csystem which suspended deliveries ahead of Hurricane Ida.<\/li>\n\n\n\n<li>It seems to us that damage to the gulf\u2019s refinery and petrochemical infrastructure has been minimal and are starting up again in the most environmentally friendly way possible.<\/li>\n\n\n\n<li>Busses are picking up people in New Orleans to get them to safety so they can experience basic human needs<\/li>\n\n\n\n<li>At the end of the day market prices have not been as dramatic as one might have expected.&nbsp; COVID, coupled with the world currently being well supplied, has kept markets in check.&nbsp; Stay tuned to PFL for up to the minute market updates we are watching this one real close.<br><\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong><u>We are watching Alberta \u2013 <\/u><\/strong>According to the Alberta Energy Regulator \u2013 July crude stocks ended at 75 million barrels up 8 million barrels year over year and 2 million barrels month over month.&nbsp; Canadian crude producers are waiting for Enbridge\u2019s Line 3 replacement that will add 390,000 barrels per day of capacity as early as September 15<sup>th<\/sup> 2021.&nbsp; Drilling in Alberta surged for in the first half of 2021, its strongest start since 2014 with 1,506 wells being drilled exceeding all of 2020\u2019s wells drilled. See below Canadian Crude by rail numbers \u2013 just released by the Canadian Energy Regulator for June.<\/li>\n<\/ol>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"586\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/canadian-crude-exports-9-6-21-1024x586.png\" alt=\"\" class=\"wp-image-4314\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/canadian-crude-exports-9-6-21-1024x586.png 1024w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/canadian-crude-exports-9-6-21-300x172.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/canadian-crude-exports-9-6-21-768x440.png 768w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/canadian-crude-exports-9-6-21.png 1198w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-black-color\"><strong>Source Data: Canadian Energy Regulator \u2013 PFL Analytics<\/strong><\/mark><\/figcaption><\/figure>\n\n\n\n<ol start=\"5\"><li><strong><u>We are watching The Dakota Access Pipeline (\u201cDAPL\u201d)<\/u><\/strong> \u2013 According to <strong><u>The Army Corps<\/u><\/strong> of Engineers they <strong><u>have extended the deadline for an Environmental review of DAPL.<\/u><\/strong>&nbsp; The delay they claim is to gather input from Native American Tribes and the State of North Dakota itself.&nbsp; The new environmental report is expected to be published <strong><u>now in September of 2022<\/u><\/strong> a delay of six months.&nbsp; Stay tuned to PFL for future updates.<\/li>\n<li><strong><u>We are watching a few key economic indicators:<\/u><\/strong><\/li<\/ol>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><u>&nbsp;The Conference Board\u2019s index of consumer confidence fell from 129.1 in July to 113.8 in August, the lowest it\u2019s been since February 2021 <\/u><\/strong>and much lower than most economists expected. It\u2019s the first decline in eight months and one of the biggest declines ever. Lynn Franco is the Conference Board executive in chart of the index and said, \u201cThe resurgence of COVID-19 and inflation concerns have dampened confidence amongst other items\u201d but \u201cit is too soon to conclude this decline will result in consumers significantly curtailing their spending in the months ahead.\u201d<strong><u>&nbsp; The University of Michigan\u2019s index of consumer sentiment fell sharply as well, falling from 81.2 in July to 70.3 in August. The last time the U of M Index was that low was December 2011. Richard Curtin, the economist in charge of the survey, said, \u201cConsumers&#8217; extreme reactions were due to the surging Delta variant, higher inflation, slower wage growth, and smaller declines in unemployment. <\/u><\/strong>The extraordinary falloff in sentiment also reflects an emotional response, from dashed hopes that the pandemic would soon end and lives could return to normal.\u201d Curtin also cautioned, \u201cThe August collapse of confidence does not imply an imminent downturn in the economy\u201d but says the emotional impact on spending patterns could last a while.&nbsp; <strong><u>Well folks, our thoughts are that COVID represents a small part of the decline it is all the other matters that are going on right now and we are not surprised by the numbers.<\/u><\/strong><\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/consumer-confidence-9-6-21.png\" alt=\"\" class=\"wp-image-4317\" width=\"840\" height=\"396\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/consumer-confidence-9-6-21.png 842w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/consumer-confidence-9-6-21-300x141.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/consumer-confidence-9-6-21-768x362.png 768w\" sizes=\"auto, (max-width: 840px) 100vw, 840px\" \/><\/figure>\n<\/div>\n\n\n<ul class=\"wp-block-list\">\n<li><strong><u>Consumer spending accounts for approximately 70% of U.S. GDP, so where the consumer leads, the economy usually follows. After big swings in the first quarter,<\/u> <\/strong>spending has settled down \u2014 it rose a preliminary and seasonally adjusted 0.3% in July from June, down from a 1.1% gain in June from May.<strong><u> Spending on goods fell 1.1% in July, its second decline in the past three months. <\/u><\/strong>Spending on services, which in absolute terms is about twice the spending on goods, rose a preliminary 1.0% in July, its fifth consecutive month over month gain of at least 1 percent. Meanwhile, retail sales, which are the equivalent of about 25% of consumer spending fell a preliminary 1.1% in July from June, also its second decline in the past three months. Excluding autos, retail sales were down 0.4% in July. The job market remains strong, and that will keep providing a boost to people\u2019s incomes and spending power. Moreover, many Americans still have substantially more money in the bank now than they did before the pandemic and the monthly child tax-credit payments that started going out last month are <strong><u>increasing those savings.<\/u><\/strong><\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"808\" height=\"478\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/Personal-Consumptions-9-6-21.png\" alt=\"\" class=\"wp-image-4318\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/Personal-Consumptions-9-6-21.png 808w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/Personal-Consumptions-9-6-21-300x177.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2021\/09\/Personal-Consumptions-9-6-21-768x454.png 768w\" sizes=\"auto, (max-width: 808px) 100vw, 808px\" \/><figcaption class=\"wp-element-caption\"><strong><span class=\"has-inline-color has-black-color\">U.S. Bureau of Economic Analysis<\/span><\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><strong><u><span style=\"color:#086aa3\" class=\"has-inline-color\">We have been extremely busy at PFL with return on lease programs involving rail car storage instead of returning cars to a shop.&nbsp; A quick turnaround is what we all want and need. &nbsp;&nbsp;Railcar storage in general has been extremely active.&nbsp; Please call PFL now at 239-390-2885 if you are looking for rail car storage, want to trouble shoot a return on lease scenario or have storage availability.&nbsp; Whether you are a car owner, lessor or lessee or even a class 1 that wants to help out a customer we are here to \u201chelp you help your customer!\u201d<\/span><\/u><\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\">Railcar Markets<\/h2>\n\n\n\n<p class=\"has-text-align-center has-vivid-red-color has-text-color wp-block-paragraph\"><strong><u><strong><u>Leasing and Subleasing has been brisk as economic activity picks up. Inquiries have continued to be brisk and strong Call PFL Today for all your rail car needs 239-390-2885<\/u><\/strong><\/u><\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><strong>PFL is seeking: <\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>70 5150 Covered Hoppers needed in Midwest for 3 Month starting October. Any class one<\/strong><\/li>\n\n\n\n<li><strong>50-100 4750 Covered Hoppers needed for Petcoke. Can take in South.<\/strong><\/li>\n\n\n\n<li><strong>70 117R or J needed for Ethanol for 3 years. &nbsp;Can take in the South.<\/strong><\/li>\n\n\n\n<li><strong>30 25.5\u2019s or greater food grade Kosher veg oil cars for 6-12 months<\/strong><\/li>\n\n\n\n<li><strong>90-100 28.3K C\/I Tank Cars needed for Biodiesel in the Midwest for 1 Year.<\/strong><\/li>\n\n\n\n<li><strong>50 6500+ cuft Mill Gon or Open Top Hopper for wood chips in the Southeast for 5 Years.<\/strong><\/li>\n\n\n\n<li><strong>25 bulkhead flats 286 any class one for up to 5 years Negotiable<\/strong><\/li>\n\n\n\n<li><strong>10 open top hoppers 2400 C FT in Texas needed for stone on the UP 3-5 years<\/strong><\/li>\n\n\n\n<li><strong>20 19,000 Gal Stainless cars in Louisiana UP for nitric acid 1-3 years \u2013 Oct negotiable<\/strong><\/li>\n\n\n\n<li><strong>10 6,300CF or greater covered hoppers needed in the Midwest.<\/strong><\/li>\n\n\n\n<li><strong>15-25 20K 23.5K cars for Oct Slurry needed in the South for 1 Year<\/strong><\/li>\n\n\n\n<li><strong>2 89\u2019 Flat cars for purchase or lease \u2013 needed in TX off the BNSF<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><strong>PFL is offering: <\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Various tank cars for lease with dirty to dirty service including, nitric acid, gasoline, diesel, crude oil, Lease terms negotiable, clean service also available in various tanks and locations including Rs 111s, and Js \u2013 Selection is Dwindling. Call Today!<\/strong><\/li>\n\n\n\n<li><strong>200 Clean C\/I 25.5K 117J in Texas. Brand New Cars!<\/strong><\/li>\n\n\n\n<li><strong>34 Clean C\/I 25.5K CPC 1232\u2019s located in PA.<\/strong><\/li>\n\n\n\n<li><strong>200 117Js 29K OK and TX Clean and brand new \u2013 Lined- lease negotiable<\/strong><\/li>\n\n\n\n<li><strong>100 117Rs dirty last in Gasoline in Texas for lease Negotiable<\/strong><\/li>\n\n\n\n<li><strong>20 117R 30K plus tanks for ethanol in Wisconsin off the CN Negotiable<\/strong><\/li>\n\n\n\n<li><strong>90 117Rs 30K located in Alberta CN or CP Refined Products Dirty \u2013 negotiable<\/strong><\/li>\n\n\n\n<li><strong>37 BRAND NEW 5161 Sugar Hoppers in Arkansas UP \u2013 negotiable<\/strong><\/li>\n\n\n\n<li><strong>99 340W Pressure Cars various locations Butane and Propane dirty negotiable<\/strong><\/li>\n\n\n\n<li><strong>100 73 ft 286 GRL riser less deck, center part for sale,<\/strong><\/li>\n\n\n\n<li><strong>19 auto-max II automobile carrier racks \u2013 tri-49 for sale \u2013 negotiable<\/strong><\/li>\n\n\n\n<li><strong>10 food grade stainless steel cars<\/strong><\/li>\n\n\n\n<li><strong>20 20K Stainless cars in 3 locations in the south \u2013 negotiable<\/strong><\/li>\n\n\n\n<li><strong>30 CPC 1232 25.5K C\/I Pennsylvania NS clean negotiable<\/strong><\/li>\n\n\n\n<li><strong>100-150 29K C\/I 117J cars for lease. Dirty in Bakken crude and can be returned dirty.<\/strong><\/li>\n\n\n\n<li><strong>100 29K C\/I 1232 cars for lease. Dirty in Heavy Crude and can be returned dirty.<\/strong><\/li>\n\n\n\n<li><strong>100 117Rs 29K clean last used in crude Washington State \u2013 price negotiable sale or lease<\/strong><\/li>\n\n\n\n<li><strong>21 111s 29K tanks last in alcohol dirty on the CN in Wisconsin for lease price negotiable<\/strong><\/li>\n\n\n\n<li><strong>100 111s of various volumes and locations last in fuel oil dirty price negotiable<\/strong><\/li>\n\n\n\n<li><strong>Various Hoppers for sale and lease 3000-5800 CF 263 and 286 multiple locations negotiable<\/strong><\/li>\n\n\n\n<li><strong>45 Boxcars 60ft Plate F\u2019s Located in Tenn CSX \u2013 Lease Negotiable<\/strong><\/li>\n\n\n\n<li><strong>28 20K Veg oil cars for lease in Arkansas \u2013 Negotiable<\/strong><\/li>\n\n\n\n<li><strong>100 3200 Covered Hoppers for sale price negotiable<\/strong><\/li>\n\n\n\n<li><strong>100 Center beam Flats with risers 73ft in SD and Iowa for sale negotiable<\/strong> <\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><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 239-390-2885<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><strong>PFL offers turn-key solutions to maximize your profitability. <\/strong>Our goal is to provide a win\/win scenario for all and we can handle virtually all of your railcar needs. Whether it\u2019s <strong><u>loaded storage, empty storage, subleasing or leasing excess cars, filling orders for cars wanted, <a href=\"https:\/\/youtu.be\/tcf2z1riziI\" target=\"_blank\" rel=\"noreferrer noopener\">mobile railcar cleaning<\/a>, blasting, <a href=\"https:\/\/pflpetroleum.com\/railcarmaintenanceandrepair.html\" target=\"_blank\" rel=\"noreferrer noopener\">mobile railcar repair<\/a>, or <a href=\"https:\/\/pflpetroleum.com\/railcarscrapping.html\" target=\"_blank\" rel=\"noreferrer noopener\">scraping<\/a> at strategic partner sites, <\/u><\/strong>PFL will do its best to assist you. PFL also assists fleets and lessors with<a href=\"https:\/\/pflpetroleum.com\/railcarleasingandsales.html\" target=\"_blank\" rel=\"noreferrer noopener\"> leases and sales and offers<\/a> <strong>Total Fleet Evaluation Services. <u>We will analyze your current leases, storage, and company objectives <\/u><\/strong>to draw up a plan of action. <strong><u>We will save Lessor and Lessee the headache and aggravation of navigating through this rapidly changing landscape<\/u><\/strong><\/strong>.<\/p>\n\n\n\n<p class=\"has-text-align-center has-vivid-red-color has-text-color wp-block-paragraph\"><strong><u><strong><u><strong><u>PFL IS READY TO CLEAN CARS TODAY ON A MOBILE BASIS WE ARE CURRENTLY IN EAST TEXAS<\/u><\/strong><\/u><\/strong><\/u><\/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        tabElement.classList.add(\"active\");\r\n    }\r\n\r\n    function fetchData(url, tableId) {\r\n    fetch(url)\r\n        .then(response => response.json())\r\n        .then(data => {\r\n            const table = document.getElementById(tableId).getElementsByTagName('tbody')[0];\r\n            data.forEach(item => {\r\n                const row = table.insertRow();\r\n                Object.values(item).forEach(value => {\r\n                    const cell = row.insertCell();\r\n                    \/\/ Check if value is empty or null and set it to an empty string or custom string like '\u2014'\r\n                    cell.innerHTML = value ? value : '\u2014';  \/\/ Replace blank values with '\u2014' or leave as blank\r\n                });\r\n            });\r\n        })\r\n        .catch(error => console.error('Error fetching data:', error));\r\n}\r\n\r\n\r\n    \/\/ Fetch data for each section\r\n    fetchData('https:\/\/manifest.pflpetroleum.com\/api\/lease_offer.php', '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","protected":false},"excerpt":{"rendered":"<p>New railcar orders improved to 9,500 units in the second quarter of 2021(versus 6,200 in the first quarter of 2021) and the backlog increased 8% sequentially to 37,500 units. Overall, orders improved and are now around replacement levels<\/p>\n","protected":false},"author":3,"featured_media":4168,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-4304","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 v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The PFL Railcar Markets Report for September 7th, 2021<\/title>\n<meta name=\"description\" content=\"Total North American rail volumes were down 1.0% yoy in week 34 resulting in qtd volumes that are up 1.3% yoy and ytd volumes that are up 9.6% yoy\" \/>\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-9-7-2021\/\" \/>\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=\"16 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-9-7-2021\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/pfl-railcar-report-9-7-2021\\\/\"},\"author\":{\"name\":\"Curtis Chandler\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/b52cec883a82d94540b07fb1f9e49319\"},\"headline\":\"PFL Railcar Report 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