Canadian National announced the signing of an agreement that will see CN acquire the Massena rail line from CSX, which represents more than 220 miles of track between Valleyfield (Quebec), in Canada, and Woodard (New York), in the U.S. The Massena rail line also serves many cities in the province of Quebec, including Beauharnois and Huntingdon, and in the state of New York, including Massena, Norwood, Potsdam, and Gouverneur.
On Oct. 7, 2019, CN and CSX will launch a new intermodal service linking CN’s greater Montreal and Southern Ontario areas with CSX-served ports in Philadelphia and New York/New Jersey.
Like its U.S. Class I peers, CN posted record 2Q19 financials—diluted earnings per share, operating revenues and operating income. Unlike them, CN grew volume in the quarter, as well as in the first half of the year.
Miner Enterprises recently announced that it plans to supply outlet gates and hatch covers for 3,800 new high-capacity grain hopper cars ordered by Canadian Pacific (CP) and Canadian National (CN) railways.
Government oil trains were to start running Alberta’s glut of sludgy bitumen to foreign markets July 1 under a US$2.8 billion contract committing provincial taxpayers to the leasing of 4,400 tank cars and guaranteed payments to CN and Canadian Pacific. For the time being, they will be costly ghost trains that earn the railways real money for no haulage.
CN recently announced the appointment of new EVP and COO Rob Reilly, effective July 1, and the promotion of Michael Foster to EVP and Chief Information and Technology Officer, effective June 3.
CN projects high single-digit Revenue Ton-Mile (RTM) growth during 2019 and price increases above industry inflation rates.
In reporting its financial and operating results for the first quarter ended March 31, 2019, CN said it had “very solid results,” including record first-quarter carload volumes, the addition of C$350 million of top-line growth and improved year-over-year car velocity.
CN President and CEO Jean-Jacques “JJ” Ruest accepted Railway Age’s 56th Railroader of the Year Award at the Union League Club of Chicago on March 12.
Canadian Pacific announced that it is appealing Transport Canada’s Feb. 8 Ministerial Order to address the securement of trains on mountain grades after a train is stopped by an emergency brake application.