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)](https://www.old.railwayage.com/wp-content/uploads/2022/06/Screen-Shot-2022-06-03-at-9.42.41-AM-315x168.png)
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.”
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.
The government of Canada and the province of New Brunswick on May 25 announced multi-million investments to boost shipping capacity in St. John and McAdam.
Canadian Pacific (CP) on May 6 released a 2021 corporate sustainability supplement that includes data on safety, operations and social impact.
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.
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.
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.
Canadian Pacific (CP) and Hapag-Lloyd AG on April 25 reported an additional call, via a seasonal extra loader, at New Brunswick’s Port St. John. This follows their inaugural service call in May 2021.
Amtrak’s proposal to launch Baton Rouge-to-New Orleans service advanced April 20 with a rail line inspection trip taken by Louisiana Gov. John Bel Edwards, Amtrak President and CEO Stephen Gardner, and other federal, state and railroad officials.