CN plans to acquire 1,500 new-generation, high-capacity grain hopper cars with delivery starting in January 2021. The new railcars aim to “encourage the economic recovery through job creation in the North American manufacturing sector and help CN continue to meet the growing needs of grain farmers and grain customers,” the company said.
CN President and CEO JJ Ruest, in his second Rail Group on Air appearance, describes his vision for CN’s future as the industry pushes forward following a challenging second quarter. Ruest, Railway
CN, the second North American Class I railroad to report second-quarter 2020 financial and operating results, was, as expected, adversely affected by the falloff in business related to the COVID-19 pandemic. Nevertheless, there are some bright spots, among them an increase in free cash flow, a decision to acquire 1,500 additional high-capacity grain hoppers, approval from the railroad’s Board of Directors to pay a third-quarter 2020 dividend, and re-affirmation of its C$2.9 billion capital plan.
In June CN achieved another monthly record by moving 2.7 million metric tonnes (MMT) of Canadian grain. In the first half of 2020 through June 30, CN moved 15 MMT, which also represents an all-time best quarter for CN with 8.15 MMT moved.
CN has announced that it will invest C$540 million (US$394.3 million) in its infrastructure in the provinces of Alberta and Quebec.
CN has moved more than 2.52 million metric tonnes (MMT) of western Canadian grain, ahead of the previous May record of 2.40 MMT set in 2014 and more than 20% ahead of the three-year average.
CN President and CEO JJ Ruest, Railway Age’s 2019 Railroader of the Year, joins Editor-in-Chief William C. Vantuono to talk about freight rail‘s role in the rapidly-evolving global supply chain, and adapting
CN announced that, in collaboration with the Halifax Port Authority, stakeholders, ocean carriers and customers, it will offer integrated solutions through its Moncton yard aimed at reducing short-haul trucking in Halifax.
The Board of Directors of the Railway Association of Canada (RAC) has elected Fiona Murray, VP of Public and Government Affairs at CN, as Chairperson. She is the first female Board Chair in the RAC’s 103-year history.
Reporting on its financial and operating results for the first quarter ended March 31, 2020, CN said it “demonstrated resiliency with solid performance amid month-long illegal blockades and impacts of the COVID-19 pandemic.”