FAIRBANKS (AP) — The Alaska Railroad Corp. is reporting revenue growth of more than 4 percent in the last fiscal year, despite declines in petroleum and coal shipments.
Railroad revenue rose 4.3 percent between July 2013 and July 2014, the Fairbanks Daily News-Miner (http://is.gd/hLI5Wa) reported. Most of the increase is credited to freight shipments, with the rest coming from passenger and real estate gains.
Most of the boost in freight shipment is attributed to Alaska Rail Marine. Shipments in the weekly barge service rose nearly 30 percent from 2013. Revenues from passengers rose nearly 11 percent.
The boost in revenue comes at a time of significant decline in transporting Flint Hills Resources petroleum products. There also has been a slight decrease in coal shipments.