CN Delivers January Grain-Haul Record
CN moved more than 2.95 million metric tonnes (MMT) of Canadian grain and processed grain products via carload in January, the 11th consecutive record-setting month, the railroad reported.
CN moved more than 2.95 million metric tonnes (MMT) of Canadian grain and processed grain products via carload in January, the 11th consecutive record-setting month, the railroad reported.
“While the recovery remains uneven across the markets we serve, we are pleased by the momentum in volume demand that grew during the fourth quarter and continues to grow,” CN President and CEO JJ Ruest reported during the railroad’s quarterly earnings announcement on Jan. 26.
CN’s proposed C$250 million logistics hub/intermodal facility, to be built in Milton, Ontario, has received approval from the Canadian government. The catch: The project is subject to 325 conditions, which would make it the most stringently regulated intermodal logistics hub in Canada.
CN has ranked 10th on the recently released Corporate Knights 2021 Global 100 Index of the most sustainable corporations—the only railroad on the list. Schneider Electric SE earned the top spot; also ranked are Alstom SA, Siemens AG and Stantec Inc.
Railway Age is honoring 20 “Fast Trackers” from a pool of more than 100 strong nominations for this year’s 20 Under 40 awards program.
Rail shippers in fourth-quarter 2020 expected price increases of 3.2% (up 10bps sequentially), and their sub-group of railcar buyers raised order expectations modestly, according to two surveys conducted by Cowen and Company analysts Jason H. Seidl (Managing Director and Railway Age Wall Street Contributing Editor), Matt Elkott and Elliot Alper.
Canada’s two Class I railroads continue to set records for grain moves. For December 2020, both CN and Canadian Pacific (CP) reported nearly 3.00 million metric tonnes (MMT) shipped.
The Canadian Transportation Agency (CTA) ruled that CN and Canadian Pacific (CP) grain revenues for the 2019-20 crop year were above their respective Maximum Revenue Entitlements (MRE). Each railroad must pay the amount that exceeded MRE plus a 5% penalty.
CN and partners Alabama Export Railroad and Ray-Mont Logistics are kicking off the first phase of a new Mobile, Ala.-based logistics park, which is expected to open in late 2021. Its aim is to offer a new option for shipping bagged plastic resins from the Port of Mobile.
CN will open a terminal in New Richmond, Wis., on March 1 to provide direct CN Intermodal service to the Twin Cities market.