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CP broke more grain-carrying records in June, Q2

Rail News Home Canadian Pacific 7/7/2020 Rail News: Canadian Pacific
image The railroad moved an all-time-high 8.41 million metric tons of grain-related products in Q2.Photo – CNW Group/Canadian Pacific

Canadian Pacific today announced it set both a quarterly and June record for the movement of Canadian grain and grain products during what has become a standout crop year for the railroad.

In the second quarter, CP moved an all-time-high 8.41 million metric tons (MMT) of grain-related products, breaking the previous quarterly record of 7.9 MMT set in fourth-quarter of 2019. In June, the railroad moved 2.76 MMT, besting the previous June record of 2.4 MMT set in 2014.

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CP donates $1 million to Minneapolis charities

Rail News Home Canadian Pacific 6/5/2020 Rail News: Canadian Pacific
image Canadian Pacific is donating $1 million to three organizations to support the people of Minneapolis, home to the Class I's U.S. operations, as well as support meaningful positive change nationally. The donation is being given in response to ongoing social unrest and social injustice in the United States, CP officials said in a press release. "George Floyd's death is shocking and heartbreaking, and serves as proof that society as whole still has so much work to do," said CP President and Chief Executive Officer Keith Creel. "With our U.S. operations running out of Minneapolis, it is our responsibility to support our employees, neighbors and friends throughout Minnesota and beyond." Floyd died May 25 after he was arrested and then pinned to the ground by Minneapolis Police Officer Derek Chauvin, who used his knee on Floyd's neck. The incident was recorded on video and led to protests throughout last week and early this week. Chauvin was subsequently fired and has been charged in Floyd's death. The three organizations that will receive the CP funds are the Lake Street Council, East Side Neighborhood Services and Equal Justice Initiative. The charities not only support people in local areas, but also help others in the United States who work to restore and rebuild following social unrest. "To effect change, we have to redouble our efforts on diversity and equality, and as a company working together we are committed to doing so," said Creel.      

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CP sets grain haul record in May, completes CMQ network acquisition

Rail News Home Canadian Pacific 6/3/2020 Rail News: Canadian Pacific
image Canadian Pacific set a new record for shipping Canadian grain and grain products in May, hauling 2.8 million metric tons (MMT), the Class I announced yesterday. The new record beats the May 2014 record by more than 300,000 metric tons. As of May 31, CP's grain movement for the 2019-2020 crop year was 24.17 MMT. The record was achieved despite challenges presented by the COVID-19 pandemic, CP officials said in a press release. "CP's operating teams in the field who serve country elevators and port terminals have risen to the challenge and created an environment of constructive tension that is pushing everyone to deliver," said Mark Redd, CP's executive vice president of operations. "We are finding further efficiencies in every aspect of the business, creating quicker hopper car cycles, longer trains, longer dwell and faster train speeds." Capacity growth has occurred due to increased efficiencies, fueled in part by CP's investment in hopper cars and the 8,500-foot high efficiency product (HEP) train. CP now has 2,700 new hopper cars in service; they can carry 15 percent more volume and 10 percent more weight compared with the older cars they're replacing. The 8,500-foot HEP train can carry in excess of 40 percent more grain than the 7,000-foot train model when combined with the additional capacity of the new hopper cars. Meanwhile, CP announced today that its acquisition of the Central Maine & Quebec Railway US Inc. (CMQ US) has been completed. Together with its earlier acquisition of the Central Maine & Quebec Railway Canada Inc. (CMQ Canada), this completes CP's purchase of the entire CMQ network, CP officials said in a press release. The Class I announced its intent to acquire the CMQ network in November 2019. Last month, the U.S. Surface Transportation Board last month approved CP's acquisition of the U.S. line, which became effective today.

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CP logged record grain haul in April

Rail News Home Canadian Pacific 5/5/2020 Rail News: Canadian Pacific
image In July 2018, Paterson Grain’s Foothills Terminal in Bowden, Alberta, loaded the first Alberta-originated 8,500-foot HEP train comprised entirely of CP’s new high-capacity hopper cars.Photo – CNW Group/Canadian Pacific

Canadian Pacific posted a record-setting movement of Canadian and grain products in April, the Class I reported yesterday.

CP moved a best-ever monthly total of 2.8 million metric tons to market, bettering the previous record set in November 2019 by more than 100,000 metric tons, CP officials said in a press release.

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CP donates to pandemic assistance charities

Rail News Home Canadian Pacific 5/4/2020 Rail News: Canadian Pacific
image Canadian Pacific is donating CA$600,000 to two Canadian charities and $400,000 to two U.S. charities working to assist people affected by the COVID-19 pandemic. In Canada, CP will donate CA$350,000 to The Frontline Fund and CA$250,000 to Food Banks Canada. In the United States, the Class I will donate $250,000 to Feeding America and up to $150,000 in matching funds to the American Red Cross, CP officials said today in a press release. "By providing food to North Americans who are in need and critical supplies and support to frontline service providers, these charities are making a difference," said CP President and Chief Executive Officer Keith Creel. "We hope our donations will assist these organizations in reaching those who are most vulnerable and keeping more people safe." The announcement comes a day before Giving Tuesday's special #GivingTuesdayNow, a global day of giving and unity on May 5 in support of charities participating in the emergency response to the pandemic.

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