{"id":7977,"date":"2017-07-03T14:54:43","date_gmt":"2017-07-03T19:54:43","guid":{"rendered":"http:\/\/nrgibroker.com\/?p=7977"},"modified":"2017-07-07T10:33:09","modified_gmt":"2017-07-07T15:33:09","slug":"union-pacific-ceo-sees-growth-with-mexico","status":"publish","type":"post","link":"https:\/\/nrgibroker.com\/en\/union-pacific-ceo-sees-growth-with-mexico\/","title":{"rendered":"Union Pacific CEO Sees Growth With Mexico"},"content":{"rendered":"

Bloomberg \/\u00a0By Thomas Black\u00a028 de junio de 2017 12:57 GMT-5<\/a> <\/span><\/h4>\n

“Union Pacific Corp. sees Mexico trade as a bright spot for its rail freight growth\u00a0despite tough trade talk from President Donald Trump, said Chief Executive Officer Lance Fritz.<\/a>Shipments between Mexico and the U.S. have been expanding as much as 6 percent annually over the last six years and now make up about 12 percent of the railroad\u2019s revenue, Fritz said Wednesday in an interview. Union Pacific, the largest publicly traded railroad in North America, has captured 70 percent of the U.S.-Mexico train traffic through its six border crossings, he said.”<\/span><\/h4>\n

“\u201cEven while we struggled in volume in \u201915 and \u201916, we were growing with Mexico,\u201d Fritz, 54, said\u00a0at Bloomberg\u2019s headquarters in New York. \u201cI think there\u2019s great opportunity there still.\u201d”<\/span><\/h4>\n

\"800x-1-2\"<\/a><\/span><\/h4>\n

“U.S.-Mexico trade in goods soared to $524 billion last year from $81 billion in 1993, the year before the North American Free Trade Agreement took effect. Trump has called out U.S. companies for building factories south of the border and often points to the U.S. trade deficit with Mexico, which was $64 billion last year, leading him to assail the trade pact. The administration has signaled it will hold talks with Mexico to renegotiate Nafta.”<\/span><\/h4>\n

“Trump\u2019s anti-trade comments don\u2019t worry Union Pacific, according to Fritz, who said he has spoken with Commerce Secretary Wilbur Ross and others in the administration. Those officials are focused on fairness and bilateral deals and aren\u2019t expected to erect significant trade barriers, Fritz said.”<\/span><\/h4>\n

“\u201cThey\u2019re quite pragmatic and reasonable,\u201d he said. \u201cThey understand how inextricably linked our supply chains are in Nafta and globally. They understand the value that brings to both consumers and industry and the job creation it represents for the U.S., notwithstanding there is some dislocation.\u201d”<\/span><\/h4>\n

“Chemical Output”<\/span><\/h4>\n

“A burgeoning U.S. chemical-production boom along the Gulf of Mexico also marks a growth area for Union Pacific as new factories are built to use raw materials from shale drilling.\u00a0About $30 billion of capital investment is being poured into one Texas county alone, Brazoria, near Houston, he said.”<\/span><\/h4>\n

“Union Pacific is tapping that market by building a packaging plant that will enable the railroad to transport plastic pellets from Dallas to West Coast ports for shipment to Asia.\u00a0That will help fill 85,000 containers a year that now are shipped back empty to the West Coast.”<\/span><\/h4>\n

“Volume at the Omaha, Nebraska-based railroad is growing this year after dropping in 2015 and 2016, mainly as demand for coal slumped. Shipments of the fossil fuel have stabilized after it went from generating 50 percent of U.S. electricity to about 30 percent today.”<\/span><\/h4>\n

“Still, the railroad has ceded some market share to BNSF Railway Co., which is owned by Warren Buffett\u2019s Berkshire Hathaway Inc. and is Union Pacific\u2019s biggest rival in the western U.S. An excess of truck capacity meanwhile has put pressure on cargo volume and the ability to raise prices, Fritz said. Coal and intermodal — which is freight in containers that can be hauled by ship, truck or train — are especially susceptible to price competition.”<\/span><\/h4>\n

“\u201cThere just may be some piece of business that our competition is going to secure at a lower price than we\u2019re willing to go,\u201d Fritz said.””<\/span><\/h4>\n

Bloomberg \/\u00a0By Thomas Black\u00a028 de junio de 2017 12:57 GMT-5<\/a><\/span><\/h4>\n

<\/h4>\n","protected":false},"excerpt":{"rendered":"

Bloomberg \/\u00a0By Thomas Black\u00a028 de junio de 2017 12:57 GMT-5 “Union Pacific Corp. sees Mexico trade as a bright spot for its rail freight growth\u00a0despite tough trade talk from President Donald Trump, said Chief Executive Officer Lance Fritz.Shipments between Mexico and the U.S. have been expanding as much as 6 percent annually over the last […]<\/p>\n","protected":false},"author":1,"featured_media":7083,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1017],"tags":[],"class_list":["post-7977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts\/7977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/comments?post=7977"}],"version-history":[{"count":0,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/posts\/7977\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/media\/7083"}],"wp:attachment":[{"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/media?parent=7977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/categories?post=7977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nrgibroker.com\/en\/wp-json\/wp\/v2\/tags?post=7977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}