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.
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.
Canadian Pacific moved more Canadian grain and grain products in November 2019 than any month in its history, delivering 2.74 MMT (million metric tons) and eclipsing its previous 2.66 MMT all-time record, set in October 2019.
Canadian Pacific (CP) has reached an agreement with Fortress Transportation and Infrastructure Investors LLC (FTII) to acquire the Central Maine & Quebec Railway (CM&Q).
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.
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%.
Canadian Pacific (CP) recently announced the performer lineup and schedule for the 21st annual CP Holiday Train program.
Canadian Pacific (CP) recently presented G3 Pasqua with the 2018-2019 crop-year Elevator of the Year award. CP presents this award annually to the grain elevator that achieves high volumes from a single loading point while consistently demonstrating efficient railcar loading and a strong commitment to safety.
In what that railroad is describing as “part of the next stage of its transformational journey,” Canadian Pacific is making changes in some senior-level executive positions, following two retirements.
Canadian Pacific has joined the Blockchain in Transport Alliance (BiTA). In joining the alliance, CP is supporting BiTA’s mission of producing blockchain standards that allow for interoperability between participants in the global supply chain.