GATX lease income up

US-headquartered rail tank lessor GATX reports in its latest financial statement that its rail segment had gross lease income of $214.6m in the first quarter of 2012. This represents an increase compared to $209.4m brought in during the same quarter of last year. 

At the end of the quarter, the segment’s wholly owned North American fleet totaled approximately 109,000 cars, and fleet utilisation was 98.5 per cent compared to 98.2 per cent at year end and 97.8 per cent at the end of the first quarter of 2011. The company’s wholly owned European fleet totaled approximately 21,000 cars, and utilisation was 96.7 per cent compared to 97.1 per cent at year end and 95.8 per cent at the end of the first quarter last year. 

“Demand for most railcar types in our fleet continues to be strong,” says GATX. “The commercial team remains focused on improving lease rates while also increasing lease terms on many car types.”

www.gatx.com