DeutscheBankMarketsResearchNorthAmericaUnitedStatesIndustrialsChemicals/CommodityPeriodicalRailcar&PetroChemicalUpdateDate21January2018USChemicalShipmentsup0.9%.Ethaneflatat28c/galRailcarloadings4-weekmovingaverage+0.9%.Weeklyloadingsup6.7%________________________________________________________________________________________________________________DeutscheBankSecuritiesInc.DeutscheBankdoesandseekstodobusinesswithcompaniescoveredinitsresearchreports.Thus,investorsshouldbeawarethatthefirmmayhaveaconflictofinterestthatcouldaffecttheobjectivityofthisreport.Investorsshouldconsiderthisreportasonlyasinglefactorinmakingtheirinvestmentdecision.DISCLOSURESANDANALYSTCERTIFICATIONSARELOCATEDINAPPENDIX1.MCI(P)083/04/2017.DavidBegleiterResearchAnalyst(+1)212250-5473david.begleiter@db.comKatherineGriffinResearchAssociate(+1)212250-7265