Railroad News

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.

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.

Canadian Pacific President and Chief Executive Officer Keith Creel today issued a statement in support of people protecting and serving the public during the coronavirus pandemic.

"To critical health-care workers, frontline service providers, emergency agencies and personnel: Thank you for your ongoing dedication, determination and sacrifice in response to COVID-19," said Creel.

Canadian Pacific yesterday reported record first-quarter revenue and a record-low operating ratio (OR), but updated its 2020 outlook to reflect the impact of the coronavirus pandemic.

CP's first-quarter 2020 revenue climbed 16 percent to CA$2.04 billion from CA$1.77 billion during the same period a year ago. The diluted earnings per share (EPS) fell 4 percent to $2.98 from $3.09; the adjusted EPS rose 58 percent to $4.42 from $2.79 percent.

Canadian Pacific announced this week that the 2019 Holiday Train, the Class I's annual charity event to raise hunger awareness, will run Nov. 25 through Dec. 18.

Decorated with thousands of colorful and glittering lights, the trains will depart on the U.S. tour on Nov. 25 and the Canadian tour, Nov. 26.

Last month, the League of Railway Women (LRW) named Pam Arpin, assistant vice president of customer and corporate services at Canadian Pacific, the winner of the organization’s “Railway Woman of the Year” award.

LRW President Tanis Peterson and Progressive Railroading Publisher Kirk Bastyr presented the award to Arpin at Railway Interchange in Minneapolis.

Canadian Pacific on Sept. 18 presented G3 Pasqua with the Class I's 2018-19 crop-year Elevator of the Year Award.

CP presents the award annually to the grain elevator that achieves high volumes from a single loading point while consistently demonstrating efficient rail-car loading and a strong commitment to safety, CP officials said in a press release.

Canadian Pacific announced yesterday that nearly CA$2.5 million was raised at the CP Women's Open golf championship, a new record.

A CA$2.2 million check was presented to the SickKids Foundation, which will go toward upgrading a cardiac operating suite for pediatrics. SickKids is the result of several fundraising efforts under the "CP Has Heart" program, CP officials said in a press release.

Canadian Pacific announced yesterday it moved 26.8 million metric tonnes (MMT) of Canadian grain and grain products during the 2018-2019 crop year, a 2.8 percent increase over the previous year and an all-time record for the Class I.

The amount of grain and grain products shipped during the year, which ran Aug. 1 through July 31, was 3.9 percent more than the railroad's three-year average. Over the past five years, CP has consistently shipped more grain each year, CP officials said in a press release.

Canadian Pacific announced yesterday that has joined the Blockchain in Transport Alliance (BiTA).

CP is the latest Class I to join BiTA, which is developing new standards for using blockchain technology to enable a faster, more cost-efficient and transparent freight supply chain.

Canadian Pacific officials this week marked the opening of the Class I's new Vancouver Automotive Compound (VAC) in Vancouver, British Columbia.

The VAC is in a prime location to handle vehicles made in North America for distribution in British Columbia, northern Washington state and parts of Alberta, as well as vehicles imported through the Port of Vancouver, CP officials said in a press release.

Canadian Pacific continues to set records for transporting Canadian grain and grain products, marking 22.5 million metric tonnes (MMT) moved from the start of the 2018-19 crop year through May 31, the Class I announced today.

Since August 2018, CP moved about 500,000 metric tonnes more grain than ever before, breaking a record set at this time in the 2015-16 crop year, said Joan Hardy, CP's vice president sales and marketing, grain and fertilizers.