Reading Time: < 1 minute MarketsFarm — The Port of Thunder Bay reported another strong grain handling month in May, as more than 1.1 million tonnes of Canadian grain and oilseeds moved through the harbour on the northern shores of Lake Superior during the month. Increased demand from many countries stockpiling grain amidst the global COVID-19 pandemic was cited as […] Read more
Tag Archives cp
Grain exports continue strong out of Thunder Bay
COVID-19 leads to increased demand, reduced oil traffic by rail
Fuel, labour to pull grain freight cost indices lower
CP's share buybacks also a factor in its VRCPI
Reading Time: 2 minutes The numbers that decide how much revenue Canada’s big two railways get to keep from Prairie grain handling have been marked downward for the 2020-21 crop year. The Canadian Transportation Agency last week announced it will set the volume-related composite price index (VRCPI) at 1.4202 for Canadian National Railway (CN) and at 1.4205 for Canadian […] Read more
Grain vessels backing up at West Coast
Reading Time: 2 minutes MarketsFarm — Vessels waiting to ship grain off Canada’s West Coast are backing up as blockades across the country slow rail traffic, according to reports tracking grain movement. Railway blockades have sprung up at a number of locations across the country over the past two weeks, as protestors express solidarity with Wet’suwet’en hereditary chiefs opposing […] Read more
CN could shut parts of network over pipeline protests
Reading Time: 2 minutes Reuters — Canadian National Railway said Tuesday it would be forced to shut down parts of its network unless rail line blockades in protest against a natural gas pipeline in British Columbia are removed. The protests of recent weeks are seen as a flashpoint for indigenous rights and reconciliation and demonstrators on Tuesday also blocked […] Read more
Canada to cut speed limits for trains hauling dangerous goods
New curb follows another Saskatchewan crash, fire
Reading Time: 2 minutes Ottawa/Winnipeg | Reuters — The federal government said Thursday it would impose temporary speed limits on trains hauling dangerous goods after a Canadian Pacific Railway (CP) crude oil train derailed and caught fire. The accident, which happened in the early hours of Thursday near Guernsey, Sask., about 40 km south of Humboldt, was the second […] Read more
CN, CP come in under 2018-19 grain revenue caps
Reading Time: 2 minutes Changes to federal rail transport rules that took effect in 2018 have put Canada’s big two railways well under their new Prairie grain revenue caps for the 2018-19 crop year. The Canadian Transportation Agency on Monday announced Canadian National Railway (CN) booked 2018-19 Prairie grain revenue of $933,357,710, a figure $371,116 below what the CTA […] Read more
Teamsters seek charges against CP to cap working hours
Reading Time: 3 minutes Montreal/Toronto | Reuters — A union is taking the unusual step of pursuing contempt of court charges against Canada’s second-largest railroad, in a previously unreported case that escalates the debate over working hours for railroad employees, according to two sources and legal documents. The Teamsters union argued in court filings that Canadian Pacific Railway should […] Read more
CN reports grain movement back at pre-strike pace
Reading Time: 2 minutes Canadian National Railway’s grain shipping is back to its pre-strike pace, the railway says. “By the second week of December (week 19), CN returned to shipping at peak levels, as well as taking on all customer hopper demand for the second and third weeks of December,” Montreal-based CN said in a release Thursday. “Despite a […] Read more
CP to buy direct line through Quebec, Maine
Reading Time: < 1 minute Canadian Pacific Railway (CP) is set to buy its way back into Quebec’s Eastern Townships and through to eastern ports with a deal for Central Maine and Quebec Railway (CMQ). Calgary-based CP announced Wednesday it has a deal with CMQ’s owner, Fortress Transportation and Infrastructure Investors (FTAI), to buy the railway’s 774 km of rail […] Read more
Third-quarter grain handle down for CN, CP
Reading Time: 2 minutes Canada’s Big Two railways both booked reduced traffic but increased their revenue per carload in their grain handling segments for their third fiscal quarters ending Sept. 30. Canadian National Railway on Tuesday reported third-quarter net income of $1.195 billion on $3.83 billion in total revenues, up from $1.134 billion on $3.688 billion in the year-earlier […] Read more
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