{"id":5695,"date":"2022-02-28T05:33:00","date_gmt":"2022-02-28T10:33:00","guid":{"rendered":"https:\/\/pflpetroleum.com\/reports\/?p=5695"},"modified":"2023-07-28T10:34:24","modified_gmt":"2023-07-28T14:34:24","slug":"pfl-railcar-report-2-28-2022","status":"publish","type":"post","link":"https:\/\/pflpetroleum.com\/reports\/pfl-railcar-report-2-28-2022\/","title":{"rendered":"PFL Railcar Report 2-28-2022"},"content":{"rendered":"\n<p class=\"has-text-align-center wp-block-paragraph\">&#8220;<strong><em>Little minds are tamed and subdued by misfortune; but great minds rise above them<\/em><\/strong>&#8220;<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><strong><em>Washington Irving<\/em><\/strong><\/p>\n\n\n\n<center><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/Xwdcj2rUZ70\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen=\"\"><\/iframe><\/center>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><strong>Jobs Update<\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center has-black-color has-text-color\" id=\"initial-and-continuing-jobless-claims\"><strong>Initial and Continuing Jobless Claims<\/strong><\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><u>Initial jobless claims for the week ending February 19th came in at 232,000<\/u><\/strong>, down -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=\"794\" height=\"410\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/1a-Initial-Jobless-Claims-2-28-2022.png\" alt=\"\" class=\"wp-image-5697\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/1a-Initial-Jobless-Claims-2-28-2022.png 794w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/1a-Initial-Jobless-Claims-2-28-2022-300x155.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/1a-Initial-Jobless-Claims-2-28-2022-768x397.png 768w\" sizes=\"auto, (max-width: 794px) 100vw, 794px\" \/><\/figure>\n<\/div>\n\n\n<ul class=\"wp-block-list\">\n<li><strong><u>Continuing claims came in at 1.476 million people versus the adjusted number of 1.588 million people<\/u><\/strong> from the week prior, down -112,000 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=\"794\" height=\"457\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/1b-Cont-Jobless-Claims-2-28-2022.png\" alt=\"\" class=\"wp-image-5698\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/1b-Cont-Jobless-Claims-2-28-2022.png 794w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/1b-Cont-Jobless-Claims-2-28-2022-300x173.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/1b-Cont-Jobless-Claims-2-28-2022-768x442.png 768w\" sizes=\"auto, (max-width: 794px) 100vw, 794px\" \/><\/figure>\n<\/div>\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><u>Stocks closed lower on Friday of last week and mixed week over week<\/u><\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>The DOW closed higher on Friday of last week, up +834.92 points<\/u><\/strong> (+2.51%), closing out the week at 34,058.75 points, down -679.318 points week over week. <strong><u>The S&amp;P 500 closed higher on Friday of last week, up +95.95 points <\/u><\/strong>&nbsp;and closed out the week at 4,384.65, up +35.78 points week over week. <strong><u>The Nasdaq closed higher on Friday of last week, up +221.04 points <\/u><\/strong>(1.64%) and closed out the week at 13,694.62&nbsp; up +146.56 points week over week.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In overnight trading, DOW futures traded lower and are expected to open at&nbsp;33,595 this morning down -399 points.<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><u>Oil closed lower on Friday of Last Week WTI down week over week<\/u><\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>West Texas Intermediate (WTI) crude closed down -$1.22 (-1.3%) <\/u><\/strong>on Friday of last week to settle at $91.59,&nbsp; down -36 cents per barrel week over week, while Brent closed -$1.15 (-1.2%) to settle at $97.93 per barrel, up +$4.39 a barrel week over week.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>U.S. commercial crude oil inventories<\/u><\/strong> (excluding those in the Strategic Petroleum Reserve) <strong><u>increased by 4.5 million barrels<\/u><\/strong> week over week. At 416.0 million barrels, U.S. crude oil inventories 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=\"916\" height=\"397\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/2-weekly-us-total-crude-stocks-2-28-2022.png\" alt=\"\" class=\"wp-image-5699\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/2-weekly-us-total-crude-stocks-2-28-2022.png 916w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/2-weekly-us-total-crude-stocks-2-28-2022-300x130.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/2-weekly-us-total-crude-stocks-2-28-2022-768x333.png 768w\" sizes=\"auto, (max-width: 916px) 100vw, 916px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>Total motor gasoline inventories decreased by 600,000 barrels<\/u> <\/strong>week over week and are 3% 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=\"916\" height=\"398\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/3-Weekly-US-Ending-Stocks-of-Total-Gasoline-2-28-2022.png\" alt=\"\" class=\"wp-image-5700\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/3-Weekly-US-Ending-Stocks-of-Total-Gasoline-2-28-2022.png 916w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/3-Weekly-US-Ending-Stocks-of-Total-Gasoline-2-28-2022-300x130.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/3-Weekly-US-Ending-Stocks-of-Total-Gasoline-2-28-2022-768x334.png 768w\" sizes=\"auto, (max-width: 916px) 100vw, 916px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>Distillate fuel inventories decreased by 600,000&nbsp; barrels <\/u><\/strong>week over week and are 18% 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=\"916\" height=\"397\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/4-Ending-Stocks-of-Distillate-Fuel-Oil-2-28-22.png\" alt=\"\" class=\"wp-image-5701\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/4-Ending-Stocks-of-Distillate-Fuel-Oil-2-28-22.png 916w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/4-Ending-Stocks-of-Distillate-Fuel-Oil-2-28-22-300x130.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/4-Ending-Stocks-of-Distillate-Fuel-Oil-2-28-22-768x333.png 768w\" sizes=\"auto, (max-width: 916px) 100vw, 916px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>Propane\/propylene inventories decreased by 3.9 million barrels<\/u><\/strong> week over week and are 22% 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=\"916\" height=\"397\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/5-propane-and-propylene-excluding-terminal-2-28-22.png\" alt=\"\" class=\"wp-image-5702\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/5-propane-and-propylene-excluding-terminal-2-28-22.png 916w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/5-propane-and-propylene-excluding-terminal-2-28-22-300x130.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/5-propane-and-propylene-excluding-terminal-2-28-22-768x333.png 768w\" sizes=\"auto, (max-width: 916px) 100vw, 916px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u><strong><u><strong><u><strong><u>Propane prices, after a brief drop a week prior, continued higher last week closing out the week at $1.25 per gallon, up 5 cents per gallon week over week up 33 cents per gallon year over year.<\/u><\/strong><\/u><\/strong><\/u><\/strong><\/u><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"916\" height=\"397\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/6-Propane-Mont-Belvieu-Pricing-2-28-2022.png\" alt=\"\" class=\"wp-image-5703\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/6-Propane-Mont-Belvieu-Pricing-2-28-2022.png 916w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/6-Propane-Mont-Belvieu-Pricing-2-28-2022-300x130.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/6-Propane-Mont-Belvieu-Pricing-2-28-2022-768x333.png 768w\" sizes=\"auto, (max-width: 916px) 100vw, 916px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>Overall, total commercial petroleum inventories decreased by 1.8 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 6.8 million barrels per day for the week ending February 18<sup>th <\/sup>2022<\/u><\/strong>, an increase of 1 million barrels per day week over week. Over the past four weeks, crude oil imports averaged&nbsp; 6.5 million barrels per day, 14.1% 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 416,000 barrels per day and distillate fuel imports averaged 416,000 barrels per day for the week ending February 18th.<\/u><\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"916\" height=\"398\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/7-US-Imports-of-Crude-Oil-2-28-2022.png\" alt=\"\" class=\"wp-image-5704\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/7-US-Imports-of-Crude-Oil-2-28-2022.png 916w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/7-US-Imports-of-Crude-Oil-2-28-2022-300x130.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/7-US-Imports-of-Crude-Oil-2-28-2022-768x334.png 768w\" sizes=\"auto, (max-width: 916px) 100vw, 916px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>U.S. crude oil refinery inputs averaged 15.2 million barrels per day<\/u><\/strong> during the week ending February 18, 2022, up 344,000 barrels per day week over week.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"916\" height=\"396\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/8-US-Refiner-Net-Input-of-Crude-2-28-2022.png\" alt=\"\" class=\"wp-image-5705\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/8-US-Refiner-Net-Input-of-Crude-2-28-2022.png 916w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/8-US-Refiner-Net-Input-of-Crude-2-28-2022-300x130.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/8-US-Refiner-Net-Input-of-Crude-2-28-2022-768x332.png 768w\" sizes=\"auto, (max-width: 916px) 100vw, 916px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u><strong><u><strong><u><strong><strong><u><strong><u><strong><u>As of the writing of this report, WTI is poised to open at $96.14 , up&nbsp;$4.55 per barrel from Thursday\u2019s close.<\/u><\/strong><\/u><\/strong><\/u><\/strong><\/strong><\/u><\/strong><\/u><\/strong><\/u><\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\" id=\"north-american-rail-traffic\"><strong>North American Rail Traffic<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>Total North American rail volumes were up 24% year over year in week 7 <\/u><\/strong>(U.S. +31.7%, Canada +5.4%, Mexico +9.9%) resulting in quarter to date volumes that are down 4.2% year over year (U.S. -2.7%, Canada -10.0%, Mexico -0.9%). Please note week 7 faced the easiest year over year comp as 2021 was faced with&nbsp; severe weather disruptions. All of the AAR&#8217;s 11 major traffic categories posted year over year increases with the largest increases coming from intermodal (+19.2%) and coal (+43.9%).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the East, <strong><u>CSX\u2019s total volumes were up 13.8%<\/u><\/strong>, with the largest increases coming from intermodal (+18.3%) and chemicals (+14.9%). <strong><u>NS\u2019s total volumes were up 20.5%,<\/u><\/strong> with the largest increases coming from intermodal (+23.8%) and coal (+27.9%).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the West, <strong><u>BNSF\u2019s total volumes were up 27.8%,<\/u><\/strong> with the largest increases coming from coal (+58.9%), intermodal (+14.4%), chemicals (+70.2%) and grain (+37.3%). <strong><u>UP\u2019s total volumes were up 53.5%,<\/u><\/strong> with the largest increases coming from intermodal (+45.3%), coal (+81.8%), stone sand &amp; gravel (+398.1%) and chemicals (+44.8%).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In Canada, <strong><u>CN\u2019s total volumes were up 7.5%<\/u><\/strong>, with the largest increases coming from coal (+150.7%), chemicals (+21.4%), petroleum (+24.8%) and grain (+28.0%). The largest decreases came from intermodal (-4.4%) and farm products (-61.4%). Revenue per ton miles was up 4.4%. <strong><u>CP\u2019s total volumes were up 12.5%,<\/u><\/strong> with the largest increases coming from intermodal (+15.0%) and coal (+25.2%). Revenue per ton miles was up 5.1%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>KCS\u2019s total volumes were up 44.7%,<\/u><\/strong> with the largest increases coming from intermodal (+47.3%), grain (+77.6%), motor vehicles &amp; parts (+82.3%) and chemicals (+42.4%).<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><strong>Source: Stephens<\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\" id=\"rig-count\"><strong>Rig Count<\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>North American rig count is up by 9 rigs week over week. U.S. rig count was up by 5 rigs week over week<\/u><\/strong> and up by 248 rigs year over year. The U.S. currently has 650 active rigs. <strong><u>Canada\u2019s rig count was up by 4 rigs week over week <\/u><\/strong>and up by 61 rigs year over year and Canada\u2019s overall rig count is 224 active rigs.&nbsp; Overall, <strong><u>year over year, we are up 301 rigs collectively.<\/u><\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\" id=\"north-american-rig-count-summary\"><a><\/a><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=\"710\" height=\"105\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/9-Rig-Count-Summary-2-28-22.png\" alt=\"\" class=\"wp-image-5708\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/9-Rig-Count-Summary-2-28-22.png 710w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/9-Rig-Count-Summary-2-28-22-300x44.png 300w\" sizes=\"auto, (max-width: 710px) 100vw, 710px\" \/><\/figure>\n<\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"794\" height=\"373\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/9-Rig-Count-Summary-Chart-2-28-22.png\" alt=\"\" class=\"wp-image-5709\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/9-Rig-Count-Summary-Chart-2-28-22.png 794w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/9-Rig-Count-Summary-Chart-2-28-22-300x141.png 300w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/9-Rig-Count-Summary-Chart-2-28-22-768x361.png 768w\" sizes=\"auto, (max-width: 794px) 100vw, 794px\" \/><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-black-color has-text-color\" id=\"a-few-things-we-are-keeping-an-eye-on\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-black-color\">A few things we are keeping an eye on:<\/mark><\/strong><\/h3>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>Petroleum Carloads<\/em><\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>The four-week rolling average of petroleum carloads carried on the six largest North American railroads rose to 24,264 from 24,219, a gain of 45 rail-cars week over week. <\/u><\/strong>Canadian volumes were flat&nbsp; week over week.&nbsp; U.S. volumes were down across the board with the NS having the largest percentage decrease (down by 15.5%).<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>Railcar Orders and Deliveries<\/em><\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>New railcar orders improved in a meaningful way to 13,500 units in the fourth quarter of 2021 versus 8,600 units in the third quarter of 2021<\/u><\/strong> and the backlog increased 14% sequentially to 43,000 units. Overall, the demand environment is clearly improving and industry participants have discussed the <strong><u>recovery <\/u><\/strong>as being <strong><u>broad based (across all car types \u2013 except coiled and insulated tank cars). <\/u><\/strong>This is also supported by railcar utilization and lease rates that continued to improve during this past quarter.The industry remains <strong><u>in the early stages of a multi-year recovery.<\/u><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;<strong><u>Railcar Deliveries &#8211;&nbsp; Fourth quarter 2021 deliveries were 8,200 units up 31% year over year, <\/u><\/strong>but down 2% quarter over quarter. FTR Intel recently adjusted its 2022 delivery forecast to 43,500 units (from 48,700 units) and its 2023 delivery forecast to 56,300 units (from 63,300 units). This forecast now assumes a 48% year over year increase in 2022 and a 29% year over year increase in 2023.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>We believe the railcar industry is experiencing a positive inflection point in demand based on the recent improvement in utilization.<\/u><\/strong>&nbsp; Older cars continue to be scrapped at record rates and storage utilization continues to decline and are back to levels not seen since 2016.<\/p>\n\n\n\n<h4 class=\"wp-block-heading has-text-align-center\"><strong><em>Crude by Rail in Canada<\/em><\/strong><\/h4>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><u>Canadian crude by rail hit a&nbsp; four-year low.&nbsp; Crude by rail shipments averaged 164,000 barrels per day in 2021 down 15% year over year.&nbsp; <\/u><\/strong>Crude by rail volumes just released by the Canadian Energy Regulator for the month of December came in at 131,224 down 1,072 barrels per day month over month.&nbsp;&nbsp; This is a far cry from the peak seen in February 2020 which came in at 411,991 barrels per day.&nbsp; Enbridge\u2019s Line 3 replacement added 370,000 barrels per day of capacity out of Canada. <strong>The outlook looked bleak for crude by rail volumes until the announcement made recently by Trans Mountain pipeline that its project is going to be delayed and not come on until the fourth quarter of 2023<\/strong> from the fourth quarter of 2022.&nbsp; Trans Mountain will add 500,000 barrels a day of capacity out of Canada and will target Asian markets from Canada\u2019s west coast.&nbsp; <strong><u>The impact to producers waiting for the project to be complete is unknown at this point <\/u><\/strong>\u2013 maybe a short term resurgence of crude by rail could pop its head up given Trans Mountain delays?&nbsp; We would have expected to see production volumes ramp up inside of Alberta in the anticipation of Trans Mountain being on time in the third quarter of 2022, but <strong><u>the delay could urge incremental barrels to once again hit rail at some point before Q4 of 2023 as transportation on pipelines remain relatively tight.<\/u><\/strong>&nbsp; Oil sands projects have experienced delays themselves and have recently run into some production problems so time will tell.&nbsp; &nbsp;The situation with Russia remains a wild card with the Biden administration under pressure to reduce production restrictions here in the United States. Stay tuned to PFL for further details.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"650\" height=\"368\" src=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/can-crude-expo.png\" alt=\"\" class=\"wp-image-5717\" srcset=\"https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/can-crude-expo.png 650w, https:\/\/pflpetroleum.com\/reports\/wp-content\/uploads\/2022\/02\/can-crude-expo-300x170.png 300w\" sizes=\"auto, (max-width: 650px) 100vw, 650px\" \/><\/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><mark style=\"background-color:rgba(0, 0, 0, 0);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<\/mark><\/u><\/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>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<hr class=\"wp-block-separator has-css-opacity\"\/>\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>5, 29k Tank Cars needed in Texas off the KCS for 5 years. Needs to be lined.<\/strong><\/li>\n\n\n\n<li><strong>100, 2480CUFT Ag Gons needed in Texas off the UP for 1-3 Years.<\/strong><\/li>\n\n\n\n<li><strong>50, 30K+ Tank cars needed in several locations. Can take in various location off various Class 1&#8217;s. Can have prior Ethanol heel or Gasoline heel.<\/strong><\/li>\n\n\n\n<li><strong>300 5800 Covered hoppers needed for plastic &#8211; 5 year lease &#8211; negotiable<\/strong><\/li>\n\n\n\n<li><strong>50 29K C&amp;I Tanks for veg oil to purchase &#8211; Immediate need<\/strong><\/li>\n\n\n\n<li><strong>15 5200-5500 PD hoppers in the west UP for 5 years for soda ash negotiable<\/strong><\/li>\n\n\n\n<li><strong>30 5800 and 6250 covered gons for sale <\/strong><\/li>\n\n\n\n<li><strong>50, 5800cuft or larger Covered Hopper for use in DDG needed in the Midwest for 3-4 years. Immediate need.<\/strong><\/li>\n\n\n\n<li><strong>10-20 Covered hopper grain cars in the midwest 5200-5500 2-3 years<\/strong><\/li>\n\n\n\n<li><strong>20-30, 19K Tank Cars for Caustic Soda needed in Texas off the UP or BN. <\/strong><\/li>\n\n\n\n<li><strong>100 Moulton Sulfur cars for purchase \u2013 any location &#8211; negotiable<\/strong><\/li>\n\n\n\n<li><strong>12 Plate F 286 GRL Boxcars 12\u2019 plug doors midwest preferred for 1 year lease<\/strong><\/li>\n\n\n\n<li><strong>30-50 Log Flats with stanchions 286K GRL in the midwest\/east CSX NS 1-3 years negotiable<\/strong><\/li>\n\n\n\n<li><strong>50 Ag Gons 2500-2800cuft 286k GRL in the east CSX for 5 years negotiable<\/strong><\/li>\n\n\n\n<li><strong>25 Covered wood chip Gons 6000CF 286 GRL any location for 1-3 years negotiable<\/strong><\/li>\n\n\n\n<li><strong>25 Boxcars for paper 6000CF 286 GRL 1-3 years anywhere<\/strong><\/li>\n\n\n\n<li><strong>100 15K Tanks 286 for Molten Sulfur in the Northeast CSX\/NS for 6 months negotiable<\/strong><\/li>\n\n\n\n<li><strong>100, 5800 Covered Hoppers 286 can be West or East for Plastic 3-5 years<\/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>50, 6500+ cu-ft 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>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 are needed in the Midwest.<\/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>150 25.5 111\u2019s in the midwest for sale &#8211; Negotiable<\/strong><\/li>\n\n\n\n<li><strong>150 117R\u2019s 31.8 clean for lease in Texas \u2013 negotiable<\/strong><\/li>\n\n\n\n<li><strong>31.8K Tank Cars last in Diesel. Dirty to dirty in Texas<\/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>90 117Rs 30K located in Alberta CN or CP Refined Products Dirty \u2013 negotiable<\/strong><\/li>\n\n\n\n<li><strong>25 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 sale or lease<\/strong><\/li>\n\n\n\n<li><strong>20 20K Stainless cars in 3 locations in the south \u2013 sale or lease &#8211; 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>50 29K 117Js in Nebraska for sale or lease clean last in crude &#8211; available Feb 2022<\/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>&nbsp;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        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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","protected":false},"excerpt":{"rendered":"<p>Folk\u2019s, volatility in the markets has been insane this past week and expect more of the same this week as the world is on edge.\u00a0<\/p>\n","protected":false},"author":3,"featured_media":4172,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-5695","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 Market Report for February 28th, 2022<\/title>\n<meta name=\"description\" content=\"Total North American rail volumes were up 24% year over year in week 7 resulting in quarter to date volumes that are down 4.2% 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-2-28-2022\/\" \/>\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=\"13 minutes\" \/>\n<script type=\"application\/ld+json\" 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Railcar Report 2-28-2022\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#website\",\"url\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/\",\"name\":\"PFL Petroleum Services LTD\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#organization\",\"name\":\"PFL Petroleum Services 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LTD\"},\"image\":{\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/progressivefuelslimited\\\/\",\"https:\\\/\\\/x.com\\\/pflpetroleum\",\"https:\\\/\\\/www.instagram.com\\\/pflpetroleum\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/20513933\",\"https:\\\/\\\/www.youtube.com\\\/channel\\\/UCO9L3c7NjG9qoB1BmKf_Hsg\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/pflpetroleum.com\\\/reports\\\/#\\\/schema\\\/person\\\/b52cec883a82d94540b07fb1f9e49319\",\"name\":\"Curtis Chandler\",\"description\":\"Throughout his career, Curtis has held various significant roles in renowned energy organizations. 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. 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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. 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