Union Pacific CEO Say 2016 Freight Volumes Could Fall
Full-year 2016 freight volumes at Union Pacific (UNP) could fall between 6 percent and 8 percent versus 2015, driven by declining coal volumes, weak shale oil business and the strong U.S. dollar, the company's top executive said on Thursday.
Chief Executive Lance Fritz told Reuters a "not very robust" showing by U.S. consumers would also hurt freight. Previously the company has said it expected freight volumes for the year to be down in the "mid-single digits."
(Reporting By Nick Carey)
