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CN posts lower revenue in Q3, as volumes slow due to pandemic

Rail News Home Canadian National Railway - CN 10/21/2020 Rail News: Canadian National Railway - CN
image CN officials in a press release said Q3 volumes were down in part because of the pandemic.Photo – cn.ca

CN yesterday reported third-quarter 2020 revenue fell 11% to CA$3.4 billion compared with the same period a year ago due to lower volumes across most commodity groups.

The Class I reported Q3 diluted earnings per share of CA$1.38, down 17%, and operating income of CA$1.4 billion, down 15%. CN posted an operating ratio of 59.9%, up from 57.9% in Q3 2019.

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CN unveils 2020-21 winter plan

Rail News Home Canadian National Railway - CN 10/2/2020 Rail News: Canadian National Railway - CN
image CN recently prepared its 2020-21 Winter Plan, which sets out the Class I's priorities, investments and measures for the coming season. The plan was prepared in accordance with the requirements of Canada's Transportation Modernization Act and with input from key stakeholders. It presents the railroad's past and current investments and operating measures aimed at meeting growing customer demand so the Class I can increase resilience and recoverability in cases of extreme operating conditions, CN officials said in a press release. Investing in specific measures such as infrastructure and equipment helps the company safely and efficiently move more goods and minimize the impact of unpredictable weather, they said. "There is no doubt in my mind that our ability to perform in these challenging times is largely a result of the record-high strategic capital investments we are making in our infrastructure and of the resourcefulness of our railroaders," said CN President and Chief Executive Officer JJ Ruest. More information on CN's Winter Plan can be found here.

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CN, Wisconsin town resolve dispute over future autoport site

The Wisconsin Office of the Commissioner of Railroads (OCR) has issued an order that resolves a dispute between CN's Wisconsin Central Ltd. (WCL) line and the town of Richmond in St. Croix County over the railroad's plan for a new autoport and intermodal shipping facility in the area.

Issued Sept. 14, the OCR's order calls for the town to relocate 105th Street to avoid establishing a new crossing of proposed siding tracks with 105th Street at its current location.

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CN joins Commtrex exchange for transload service

Rail News Home Canadian National Railway - CN 9/9/2020 Rail News: Canadian National Railway - CN
image CN has joined Commtrex's transload marketplace to offer customers electronic "one-stop access" to the Class I's rail network and transloading distribution services across the United States and Canada. The marketplace is designed to help shippers efficiently find transloading providers that can handle the movement of bulk, liquids, packaged goods, oversized cargo and other goods. Commtrex aims to match shippers with the most relevant transload facilities, then enables the shippers to compare detailed information about each location before connecting directly through the platform to discuss terms, CN officials said in a press release. "By using Commtrex, CN can connect customers with our team of experts to receive the best transload solutions that will help optimize their supply chains. With CN's comprehensive data analytics from our distribution facilities, as well as data from the Commtrex platform, we are offering increased visibility and deeper level insights on customers' goods including volumes, inventory aging and last-mile optimization," said Mark Lerner, CN's vice president of marketing and business development.  

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CN to order 50 all-electric trucks for intermodal fleet

Rail News Home Canadian National Railway - CN 9/1/2020 Rail News: Canadian National Railway - CN
image CN and The Lion Electric Co. have signed a memorandum of understanding for CN to acquire 50 zero-emission trucks as part of the railroad's intermodal truck fleet. The trucks will be used at CN's intermodal terminals in urban areas to reduce greenhouse-gas emissions (GHGs), CN officials said in a press release. In April 2019, the Class I launched a pilot program to test the use of the custom-built electric trucks. Slated for intermodal use, the trucks will be tested in a variety of situations across CN's network, from urban delivery and container shuttle service to port operations. The trucks do not produce noise and will remove 100 tons of GHGs from roads annually, CN officials said. The agreement allows CN to support innovation in Quebec, where The Lion Co. is based and where CN employs several thousand people, said CN President and Chief Executive Officer JJ Ruest. "This agreement also is part of our commitment to encourage economic recovery and reduce the carbon footprint of the global supply chain," he said. "The regulatory regime put in place by the federal government ensures an environment conducive to such investments." Although financial terms were not revealed, The Lion Co. President and Founder Marc Bedard said the agreement represents his company's largest order yet.

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