What Started the Fire Near Lytton, B.C.?
The cause of the wildfire in Lytton, British Columbia, is now under investigation.
The cause of the wildfire in Lytton, British Columbia, is now under investigation.
A Canadian community in British Columbia, Canadian Pacific (CP) and CN are in the midst of support and recovery efforts, and Transport Canada has issued a Ministerial Order for the Class I railroads to cease area train movements for 48 hours, starting July 9.
Kansas City Southern (KCS) stockholders will vote on the railroad’s proposed combination with CN on Aug. 19.
Proposed merger partners CN and Kansas City Southern (KCS) have submitted to the Surface Transportation Board (STB) a reply to comments filed on the railroads’ voting trust agreement. They detailed why the trust should be approved. KCS rival merger partner Canadian Pacific (CP) is unconvinced.
Parrish & Heimbecker, Ltd. (P&H) has begun construction on a new high-throughput grain elevator in Yorkton, Saskatchewan, to be served by CN.
At Cowen and Company, we are adjusting our rail models in advance of second-quarter earnings reports due later this month from the Class I railroads. The models reflect carloads in the quarter, mix, fuel, FX (foreign exchange) and cost implications as the supply chain remains tight.
Following the closing of the public comment period for the CN voting trust, which ended June 28, we are re-calibrating our expectations and now believe there to be a ~60% chance the Surface Transportation Board approves it. Our viewpoints swayed slightly in favor of CN following a closer look at the public comments over the past 20 days.
The Request for Proposal (RFP) process is now under way for program management/program controls services for the development of Port of New Orleans’ (Port NOLA) Louisiana International Terminal.
Amtrak has asked the Surface Transportation Board (STB) to reject CN’s use of a voting trust in its proposed combination with Kansas City Southern (KCS). The passenger railroad’s comments were filed June 28, along with those from Canadian Pacific (CP), KCS’ rival merger partner.
Proposed merger partners CN and Kansas City Southern (KCS), and KCS rival partner Canadian Pacific, on June 28 reported additional support for their respective combinations. It is the final day of the Surface Transportation Board’s (STB) public comment period on the CN-KCS voting trust.