Canadian Pacific

CP, KCS, USD, Gibson Energy, ConocoPhillips Canada Forge Diluent Recovery Deal

US Development Group, LLC (through wholly-owned affiliate SD) and Gibson Energy Inc. (Gibson) jointly announced this week an agreement to construct and operate a diluent recovery unit (DRU) near Hardisty, Alberta, Canada. ConocoPhillips Canada has contracted to process 50,000 barrels per day of inlet bitumen blend through the DRU to be shipped by Canadian Pacific and Kansas City Southern to the U.S.

A Teck Shift in Canada

CN and Teck Resources Limited, a diversified resource company with major business units in copper, steelmaking coal, zinc and energy, on Dec. 4 announced a long-term agreement for shipping steelmaking (metallurgical) coal* from Teck’s four British Columbia operations between Kamloops and Neptune Terminals, and other West Coast ports. The agreement, which runs from April 1, 2021 until December 31, 2026, will replace Teck’s current 10-year agreement with Canadian Pacific, which expires March 31, 2021. CP, which interchanges with CN at Kamloops, will continue to serve Teck at originating mine sites.

CP Hosts Connect 2019 to Foster Growth

Canadian Pacific (CP) recently brought together short line railroads and transload operators, representatives of more than 50 companies, to its Calgary headquarters for Connect 2019—an effort to nurture collaboration and develop efficient service offerings to customers, with the goal of fostering sustainable, profitable growth.

CP: “Improved Performance Measures”

Canadian Pacific (CP) announced record third-quarter revenues of C$1.98 billion, and reported diluted earnings per share (EPS) of C$4.46, or C$4.61 on an adjusted diluted EPS basis. The Class I railroad also achieved a record-low quarterly operating ratio of 56.1%.