Canadian Pacific

Canada cracking down on CBR shippers

Canada’s government has ordered Transport Canada to crack down hard on crude oil shippers who they say continue to evade a directive that they test the contents of tank cars before classifying them as hazardous materials for crude by rail (CBR) transportation.

2014 TRAFFIC AND SPENDING OUTLOOK: A capital year for suppliers

2013 has been a record year for the railroads, “a very robust and challenging year for growth and re-investment,” in the words of BNSF chief executive Matt Rose. The indications are that 2014 could be even better—from a shareholder’s standpoint, “a profile of continued steady earnings growth, stock repurchases, and increasing dividends,” in the words of Jason Seidl, Railway Age’s Wall Street contributing editor.

CP appoints Demosky as Exec VP, CFO

Canadian Pacific has announced that Bart Demosky has been appointed Executive Vice-President and Chief Financial Officer, effective Dec.  28, 2013.

CP Holiday Trains ready to roll

Canadian Pacific’s annual Holiday Train program, now in its 15th year, is one of the longest-running fundraising programs in North America. Each 1,000-foot Holiday Train—one operating in Canada, one in the U.S.— consists of 14 brightly decorated railcars, including a modified boxcar that has been turned into a traveling stage for performers.

Ackman to sell partial stake in CP

Pershing Square Capital Management founder William Ackman reportedly is selling roughly US$800 million of his investment in Canadian Pacific Railroad, or roughly 5.9 million shares.

Record 3Q earnings for CP

Canadian Pacific early Wednesday, Oct. 23, 2013, reported third-quarter net income of C$324 million (US$312.5 million), or C$1.84 (US$1.77) per diluted share, noting it was a record. Results beat CP’s 3Q12 income of C$224 million or C$1.30 per share.

Hunter Harrison to regulator: Don’t mess with my productivity

The Canadian Transportation Agency (CTA) on Sept. 13, 2013, ordered Canadian Pacific Railway to immediately cease and desist “load testing” and idling operations in proximity to its Locomotive Reliability Centre (LRC) at Alyth Yard, Calgary. CP, noting CTA’s apparent inability to recognize that railroads operate round-the-clock, on Sept. 19 announced plans to close the LRC over the next few months and lay off 130 people.

Potash resilient after consortium break-up

One of railroading’s least-recognized commodities found itself in the global spotlight this summer. On July 30, Russian potash producer Uralkali announced it was severing ties to the Belarusian Potash Company, a joint marketing venture with rival producer Belaruskali. Uralkali’s exit was in response to Belaruskali making independent sales of potash to China.

CP ordered to interchange trains with MM&A

Canadian Pacific said Thursday, Aug. 22, 2013, that it has been ordered by the Canadian Transportation Agency (CTA) to interchange traffic with short line railroad Montreal, Maine & Atlantic Railway (MM&A), “effective immediately.”

CP and UP forge Canada-to-California CBR corridor

For the past year, BNSF Railway has dominated in the shipment of crude by rail (CBR) from North America’s Bakken shale formation westward to refineries and ship terminals along America’s Pacific Coast. Now, Canadian Pacific and Union Pacific are teaming up to move crude oil from Canada south into California.
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