Near-term tank rail car sublease rates were somewhat lower amid thin volume in the latest week.
One rail car broker said he had put together a sublease deal for five or six DOT-112 tank cars for a six-month period at $400/car/month, lower than the average of $475/car/month seen for the cars. He said if the transaction would have involved more cars, a higher price might have been commanded.
“That’s just a guy trying to keep some cars out of storage,” remarked one midstream traffic manager when he heard about the transaction, noting that a market participant was probably trying keep some cars moving to avoid paying storage costs.
The traffic manager said some tank cars could be ...