CP says grain movement improving
Canadian Pacific Railway reported year-to-date shipments of grain through Week 31 were up 3%, or approximately 400,000 metric tons.
Canadian Pacific Railway reported year-to-date shipments of grain through Week 31 were up 3%, or approximately 400,000 metric tons.
Railroads in the United States originated 1,028,141 carloads in February, down 0.3% from the same month in 2017, the Association of American Railroads said.
CN President and CEO Luc Jobin has unexpectedly stepped down, effective immediately. The railroad’s Board has appointed Executive Vice President and Chief Marketing Officer.Jean-Jacques Ruest Interim President and CEO “until a permanent replacement is in place.”
Shipments of containers and trailers posted healthy gains while commodity carloads were weaker from a year ago.
The Association of American Railroads said U.S. rail traffic for the week ending February 10 was 519,545 carloads and intermodal units, up 1.6% from the same week a year ago.
Chicago South Shore & South Bend Railroad (CSS) will expand business opportunities at a strategic location in Gary, Ind., through a lease of five miles of track from CN.
Canadian National Railway said net income increased by 156% to C$2.61 billion ($2.12 billion) in the fourth quarter from a year ago while earnings per share soared by 164% to C$3.48 ($2.82) on changes to the U.S. corporate tax rate that saw a deferred income tax recovery of C$1.76 billion, or C$2.35 per share.
Petroleum and related products were one of the few gainers as the Association of American Railroads reported U.S. weekly rail traffic was 508,239 carloads and intermodal units, down 2.9% from the same week a year ago.
A Washington state port set a deadline for the developer of a controversial oil-by-rail terminal to have approvals in place or lose its lease, which would effectively kill plans to develop the largest such project in the U.S.
The Association of American Railroads said U.S. rail traffic for the week ending Jan. 6 totaled 415,862 carloads and intermodal units, down 4.6% from the year-ago week.