Canadian Pacific

Three Unions Ratify Agreements With CP

Employees on Canadian Pacific’s Dakota, Minnesota & Eastern (DM&E) South; Central Maine & Quebec (CMQ) U.S. and Central Maine & Quebec Canada subsidiaries have ratified collective bargaining agreements.

Cowen: Adjusting the Tracks for 2Q22

At Cowen and Company, we are adjusting our railroad estimates ahead of second-quarter 2022 earnings. Continued rail congestion is hindering volume (still below 2019 levels), while pricing is expected to be on par with first-quarter levels.

“CP celebrated the opening of a new border station in Jackman, Maine today [May 17] with @CBP & @HapagLloydAG. This new live lift operation will help create a seamless service between @PortSaintJohn & terminals in Canada & the U.S.,” the Class I railroad reported on Twitter. Pictured: Hapag-Lloyd’s Jason Tock (left) and CP’s Todd Ferland. (Photograph Courtesy of CP via Twitter)

CP, CBP Open New Border Station in Maine

With Canadian Pacific’s (CP) support, U.S. Customs and Border Protection (CBP) has opened a new freight inspection facility that the Class I railroad says “will help to create a seamless flow of goods across the border between Quebec and Maine.”

CP, CMA CGM Ink Multi-Year Pact

Canadian Pacific (CP) is becoming CMA CGM Group’s “primary rail provider in Canada” under a new multi-year agreement, the Class I railroad reported on May 31.

Canadian Pacific's hydrogen fuel cell-powered linehaul freight locomotive (H20EL; pictured) began running under its own power earlier this year.

CP Hydrogen Locomotive Program Advances

Calgary-based ATCO Group, through its investment in Canadian Utilities Ltd., will provide engineering, procurement and construction services for two hydrogen production and refueling facilities in Alberta as part of Canadian Pacific’s (CP) Hydrogen Locomotive Program.

STB to CP-KCS: Resubmit Data From Proposed Merger Filings

The Surface Transportation Board (STB) is calling on merger partners Canadian Pacific (CP) and Kansas City Southern (KCS) to resubmit by May 27 traffic density data that will be used in analyzing the environmental and transportation impacts of their combination.

“I’m proud of the way CP’s team of professional railroaders managed the difficult operating environment they faced in the first quarter of 2022,” CP President and CEO Keith Creel said during an April 27 earnings announcement.

Creel: Following ‘Difficult’ 1Q22, CP ‘Building Momentum’ (UPDATED, Cowen)

Canadian Pacific’s (CP) first-quarter 2022 results—including revenues that fell 6% and a reported operating ratio that deteriorated by 1,070 basis points from first-quarter 2021—“reflected the impact of last year’s drought on Canadian grain volumes, harsh winter operating conditions and the effects of a work stoppage,” President and CEO Keith Creel said.

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