September 15, 2010 / 12:46 PM / in 7 years

UPDATE 1-RailAmerica August carloads up 4 pct

* Says increased shipments in 6 of 12 commodity groups

* Sees 5 pct carload growth in Q3

Sept 15 (Reuters) - Short-line railroad operator RailAmerica Inc RA.N reported a 4 percent rise in August freight carloads helped by an increase in metallic ores, metals, non-metallic mineral and chemicals shipments.

The company, which operates 7,400 miles of track in 27 U.S. states and three Canadian provinces, said it expects carloads to grow about 5 percent in the third quarter.

RailAmerica said August carloads were 72,221, up from 69,702, a year ago, as shipments in six out of 12 commodity groups increased.

Metallic ores and metal shipments jumped 75 percent on higher shipments in the Midwest, Northeast and Central regions, while non-metallic minerals and products carloads rose 8 percent due to higher shipments in Southeast and Midwest regions.

Chemicals volumes were up 18 percent on increased shipments in Midwest, Northeast and West regions.

Coal shipments, comprising 22 percent of RailAmerica’s carload freight, fell 5 percent.

Shares of the Florida-based company, which have risen 10 percent from its 52-week low in July, closed at $10.15 Tuesday on the New York Stock Exchange. (Reporting by Soham Chatterjee in Bangalore; Editing by Don Sebastian)

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