Canadian Pacific has entered into a new seven-year agreement with Canpotex Limited, a major exporter of Canadian potash. The contract, which runs through 2028, is a successor to the current, 10-year agreement, which expires in 2022.
The public now has until Jan. 3, 2022 to provide comments on the scope of environmental review for the proposed Canadian Pacific-Kansas City Southern merger, the Surface Transportation Board (STB) reported on Dec. 17.
The Hardisty Energy Terminal in Alberta has opened a diluent recovery unit, and the DRUbit™ it creates, a proprietary heavy Canadian crude oil specifically designed for rail transportation, is ready to ship, according to the terminal’s 50-50 joint venture of US Development Group (USD) and Gibson Energy.
No two words torment railroad executives and their investors more than “reciprocal switching”—a potential Surface Transportation Board (STB) decree that a railroad with sole physical access to a shipper facility transfer (switch) a shipper’s cars to a junction point with a second (competing) railroad. The second railroad pays a compensatory per-car switching fee whose reasonableness is determined by the STB.
Canadian Pacific (CP) on Dec. 14 completed its acquisition of Kansas City Southern (KCS); KCS shares have been placed into a voting trust until the Surface Transportation Board (STB) issues a decision on railroads’ proposed combination, Canadian Pacific Kansas City, which is expected in fourth-quarter 2022.
Transport Canada is tackling transportation bottlenecks with the distribution of C$8.7 million in grants to four projects under the National Trade Corridors Fund, including one that will boost capacity between Canadian Pacific and the Port of Vancouver; the agency is also requesting further supply chain improvement proposals under the same grant program.
Kansas City Southern (KCS) stockholders have approved the railroad’s planned combination with Canadian Pacific (CP), which would form the first U.S.-Mexico-Canada rail network.
Canadian Pacific is committed to establishing New Orleans-Baton Rouge passenger service if the railroad’s proposed merger with Kansas City Southern is approved, Senior Vice President of Strategic Planning and Technology Transformation James Clements told Louisiana officials on Dec. 8.
Railway Age on Dec. 9 announced that its 2022 Railroader of the Year Award goes to two exemplary and visionary North American rail industry leaders: Canadian Pacific President and Chief Executive Officer Keith Creel, and Kansas City Southern President and Chief Executive Officer Patrick J. Ottensmeyer.
Canadian Pacific (CP) shareholders “overwhelmingly support” the proposed CP-Kansas City Southern (KCS) merger agreement, CP reported on Dec. 8, following a virtual shareholder meeting; the merger would create Canadian Pacific Kansas City (CPKC), the first U.S.-Mexico-Canada rail network.