Railroad News

Rail News Home Canadian Pacific 7/21/2017 Rail News: Canadian Pacific
Canadian Pacific and the Teamsters Canada Rail Conference Maintenance of Way Employees Division (TCRC-MWED) have ratified a new five-year agreement, the organizations announced yesterday.The agreement takes effect Jan. 1, 2018. It ensures wage increases of 2 percent each year over the term of the contract, and provides the opportunity for additional increases of 1 percent in the fourth and fifth years depending on gains in revenue ton miles, according to a CP press release."This agreement reflects the continuing trend of early, long-term contracts with our unions that ensure stability for our hardworking employees and consistency of service for our customers," said CP President and Chief Executive Officer Keith Creel.The TCRC-MWED represents 2,000 workers at CP.

Rail News Home Canadian Pacific 6/7/2017 Rail News: Canadian Pacific
Canadian Pacific today announced new efforts by its sales and marketing team to improve the customer experience and generate growth opportunities.Building on the success of its grain franchise and Dedicated Train Program, CP's sales and marketing team is focused on strategic improvements across all lines of business, CP officials said in a press release."We have a proven operating model, the shortest routes in key markets, and are now making great strides in customer service," said President and Chief Executive Officer Keith Creel. "Over the last four years, a lot of work has been done to improve our cost structure and build a strong foundation for success. We are now well positioned to leverage CP's safe, highly efficient and low-cost transportation model." CP announced two recent initiatives that demonstrate its approach to enhancing the customer experience through offering a "more reliable total product" and extending its market reach:
• The Class I is ordering 41 new gensets equipped with the latest telematics and most fuel efficient technology available in the marketplace to be delivered throughout 2017 and first-quarter 2018. Gensets are purpose-built 40-foot containers that house two generators capable of powering up to 17 refrigerated ocean-going containers. With this investment, CP is expanding its protective and perishable service product to serve a growing segment of the transportation market.
• A new "live" lift at Portal, N.D., was opened in May. Portal is the border crossing for CP's intermodal traffic moving between western Canada and the U.S. Midwest. The new service allows CP to lift single containers off of trains for inspection by Canadian and U.S. authorities as opposed to having entire intermodal cars set-off, which could hold three or more containers. The investment will eliminate non-targeted containers from being delayed at the border crossing, CP officials said."We are now at an inflection point and are well positioned to grow the franchise, sell a competitive service and offer our customers a best-in-class, total transportation solution," said CP Chief Marketing Officer John Brooks. "CP delivers safely and efficiently from A to Z, but now by collaborating closely with our customers and actively listening, we better understand their needs and are taking action to strengthen our total product in the marketplace."

Rail News Home Canadian Pacific 5/15/2017 Rail News: Canadian Pacific
Canadian Pacific and the Teamsters Canada Rail Conference Maintenance of Way Employees Division (TCRC-MWED) announced late last week that they have reached a tentative five-year contract agreement.Details of the agreement will be presented to the union for ratification. TCRC-MWED represents 2,000 workers at CP."We have been working collaboratively and proactively with the TCRC-MWED leadership on a deal that makes sense for both sides and provides stability over the long term," said CP President and Chief Executive Officer Keith Creel in a press release. "CP has worked hard, and will continue to work hard, to achieve long-term, innovative agreements with its unions that provide the framework for continued success for the company and its valued employees," Creel added. Contact Progressive Railroading editorial staff. More News from 5/15/2017

5/15/2017    

Rail News: Canadian Pacific

Rail News Home Canadian Pacific 5/3/2017 Rail News: Canadian Pacific
The mine and related rail infrastructure is the most significant project undertaken by CP since the mid-1980s.Photo – Canadian Pacific

5/3/2017    

Rail News: Canadian Pacific

Rail News Home Canadian Pacific 5/1/2017 Rail News: Canadian Pacific
Canadian Tire’s Senior Vice-President, Supply Chain, John Salt (left) and CP’s Keith Creel, President and CEO (right) at CP's intermodal facility in Calgary, Alberta.Photo – Canadian Pacific

5/1/2017    

Rail News: Canadian Pacific

Rail News Home Canadian Pacific 4/26/2017 Rail News: Canadian Pacific
CP met yesterday with port officials and terminal operators to discuss business opportunities.Photo – Canadian Pacific

4/26/2017    

Rail News: Canadian Pacific

Rail News Home Canadian Pacific 4/20/2017 Rail News: Canadian Pacific
Canadian Pacific yesterday announced first-quarter 2017 revenue rose 1 percent to 1.6 billion Canadian dollars from CA$1.59 billion a year ago. The revenue growth was the first in six quarters, company officials said."We turned a corner in March and are now seeing positive volumes, which makes us cautiously optimistic that the demand environment is improving," President and Chief Executive Officer Keith Creel said in a press release and in an earnings conference call.CP's net income declined to CA$431 million in Q1 2017 from CA$540 million in the same period a year ago. The Class I reported earnings per share (EPS) fell 17 percent to CA$2.93 from CA$3.51 a year ago, while adjusted diluted EPS remained flat year-over-year at CA$2.50.CP's reported operating ratio fell by 80 basis points to 58.1 percent from 58.9 percent. However, the OR in the quarter includes a CA$51 million recovery associated with the early departure of E. Hunter Harrison, who left CP as CEO earlier this year to become head of CSX Corp. Excluding that adjustment, the operating ratio increased by 240 basis points to 61.3 percent."CP's strong focus on developing its bench strength resulted in a seamless leadership transition and a seasoned executive team that is focused on leveraging CP's proven operating model," Creel said. "Our talented and engaged workforce together with disciplined cost control gives us a great deal of confidence that we'll be able to deliver high single-digit adjusted diluted EPS growth in 2017 and create long-term value for shareholders."Meanwhile, Creel also announced that CP and the United Steelworkers Local 1976 have reached a five-year agreement that will cover 600 administrative support and intermodal employees. The agreement was reached and ratified early, as the existing contract doesn't expire until the end of 2017, Creel said.The agreement calls for wage increases of 2 percent each year over the term of the contract. Also, the contract provides the opportunity for additional increases of 0.5 percent to 1 percent in the fourth and fifth years depending on gains in revenue ton miles. "CP's support staff personnel and intermodal employees are integral to our company's best-in-class service and our future success," said Creel. "This innovative agreement is an example of the positive results that can be achieved when people work together in good faith." Contact Progressive Railroading editorial staff. More News from 4/20/2017

4/20/2017    

Rail News: Canadian Pacific

Rail News Home Canadian Pacific 4/12/2017 Rail News: Canadian Pacific
The Battle of Vimy Ridge is considered a pivotal event in Canada's history.Photo – Canadian War Museum

4/12/2017    

Rail News: Canadian Pacific

Rail News Home Canadian Pacific 3/17/2017 Rail News: Canadian Pacific
Canadian Pacific and the United Steelworkers Local 1976 announced yesterday they reached a tentative five-year agreement covering 600 administrative support and intermodal employees in Canada.The current contract expires Dec. 31. Details of the tentative contract are being withheld until after ratification by Local 1976 members, according to a CP press release."This agreement reflects a shared vision for the future success of this company and is an acknowledgement of the important work of our support staff personnel and intermodal employees in writing the next chapter of the CP story," said CP President and Chief Executive Officer Keith Creel. Contact Progressive Railroading editorial staff. More News from 3/17/2017

3/17/2017    

Rail News: Canadian Pacific

Rail News Home Canadian Pacific 2/22/2017 Rail News: Canadian Pacific
The logo reflects CP's past and future.Photo – Canadian Pacific

2/22/2017    

Rail News: Canadian Pacific

Rail News Home Canadian Pacific 2/15/2017 Rail News: Canadian Pacific
Canadian Pacific launched an awareness campaign that highlights the safety benefits of using inward-facing cameras in locomotives.The campaign includes a website, which specifies how CP intends to use the technology to reduce risk, improve safety and assist in preventing accidents. The Class I also continues to encourage Canada Minister of Transport Marc Garneau to pass new legislation that would "maximize" the benefits of such technology, according to a CP press release.In addition, the railroad is prepared to invest in and install the technology, also know as locomotive video and voice recorders, if it can be used to proactively improve safety, CP officials said."We are proud to be running the safest railway in North America, but we can always do better and having the ability to use inward-facing cameras allows us to be even safer," said CP President and Chief Executive Officer Keith Creel. "This is a preventative, proactive, behavior-changing tool the industry should have been allowed to use years ago." CP officials noted that Canada's Transportation Safety Board has been calling on Transport Canada to mandate the technology since 2012."This technology would be another tool in the broader package of rules, regulations and our safety management system suite – each of which protects the public, our employees and the goods we transport for our customers," said Creel. "We recognize the need to use this technology in a way that is respectful of our employees, and are committed to doing so." CP uses inward-facing cameras in 49 of its locomotives in the United States. Contact Progressive Railroading editorial staff. More News from 2/15/2017