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.
National Steel Car
Canadian Pacific reports that it has broken all-time records for grain shipments, moving 2.64 million metric tonnes (MMT) of Canadian grain and grain products in October, the railroad’s biggest month ever for this commodity. The previous record was set in September 2017. CP also set a new record for biofuel shipments.
A fleet of new centerbeam cars are being deployed by CN, with patented energy management technology designed to reduce train separations in transit.
Canadian Pacific plans to invest more than a half-billion dollars in nearly 6,000 new high-capacity grain hopper cars, and expects to place more than 500 in service before the end of 2018, increasing capacity of its unit grain trains. National Steel Car, Hamilton, Ont., has received CP’s initial order for 1,000 units.
CN has ordered 1,000 high-cube grain hopper cars from National Steel Car, Hamilton, Ont., to replace aging equipment and accommodate increasing annual Western Canadian crop yields. The order closely follows the Canadian government’s passing of Bill C-49, the Transportation Modernization Act.
At Cowen and Company’s Eighth Annual Global Transportation Conference, analyst Matt Elkott hosted a railcar outlook and overview discussion panel featuring Railroad Financial Corp. President and Railway Age Financial Editor David Nahass, Northeast Logistics Systems LLC Founder and Principal Richard Flynn, and National Steel Car Senior Vice President Marketing and Sales Bob Pickel.
A terminal serving the crude oil industry is offering help for drought-stricken California.
In the current down market, a “strong case” can be made for consolidation in the freight car building sector, according to Cowen and Company analyst Matt Elkott.