Railroad News

CN has been recognized as a global leader on environmental issues by CDP, the nonprofit organization that runs the global disclosure system to help investors, businesses, states and cities manage their environmental impacts.

CDP named CN to the Supplier A List of 100 companies that meet disclosure criteria for their actions to address climate change.

CN reported fourth-quarter 2017 adjusted net income decreased 6 percent to CA$897 million and adjusted diluted earnings per share (EPS) fell by 2 percent to CA$1.20.

The results exclude the impact of changes in the U.S. corporate tax rate under the new Tax Cuts and Jobs Act. Including the tax benefit, CN reported Q4 2017 net income soared 156 percent to CA$2.6 billion and diluted EPS jumped 164 percent to CA$3.48 compared with Q4 2016's results, CN officials said in a press release.

CN today announced it chose Toyo Engineering Canada Ltd. to design and carry out a pilot project associated with producing CanaPux™ pellets.

The project is a key step toward demonstrating the commercial viability of moving bitumen in solid form by rail, CN officials said in a press release. The Class I worked with InnoTech Alberta to develop CanaPux, solid and dry pellets that are designed to float in water. The pellets won’t leak or dissolve, so there’s minimal risk of environmental contamination to oceans, lakes and rivers, CN officials said.

A joint interline service initiative established between CN and Norfolk Southern Railway in August is reducing transit times by a day or two for carload traffic between Western Canada and NS destinations in the Eastern United States, the Class Is announced late last week.

The service enables freight to bypass traditional interchange points in Chicago in favor of using the "most efficient" existing CN and NS routes. The service has cut transit times by up to 48 hours, according to a press release issued by the railroads.

CN reported third-quarter net income fell 1 percent to CA$958 million, while diluted earnings per share rose 2 percent to CA$1.27 compared with third-quarter 2016's financial results.

Revenue for the quarter rose 7 percent to CA$3.2 billion; operating income climbed 4 percent to CA$1.5 billion; and adjusted net income increased 2 percent to CA$989 million compared with the same period a year ago, according to a company press release.

The new Ray-Mont Logistics transload facility in Prince Rupert, British Columbia, welcomed its first unit train carrying agricultural products on CN's rail line, the Class I announced yesterday.

The new facility is located on Ridley Island, next to the recently expanded Port of Prince Rupert Fairview Container Terminal and connected to CN's network.

CN and Conuma Coal Resources have resumed direct rail service to the Wolverine Mine in northern British Columbia, the Class I announced on its website.

The mine was closed in 2014 as commodity prices dropped. As the coal market began to rebound, Conuma purchased and reopened the mine in 2016.

CN officials yesterday unveiled the renamed Claude Mongeau National Training Center in Winnipeg, Manitoba.

The Class I announced earlier this year that it would name its national employee training center after former President and Chief Executive Officer Claude Mongeau, who stepped down from his post for health reasons in June 2016.

CN executives joined Port of Prince Rupert, DP World and other community leaders yesterday to mark the 10th anniversary of Fairview Container Terminal, as well as the recent completion of its expansion.

DP World's expansion increased Fairview Container Terminal's annual throughput capacity from 850,000 to 1.35 million 20-foot equivalent units, according to a press release issued by port officials.

CN moved a record 21.8 million metric tons of Western Canadian grain during the 2016-17 crop year, the Class I announced today.

Among the crop year's highlights, CN reported that it shipped 7 percent more tonnage on its network than the prior three-year average.

CN has hired Andrea Waldock Niethold to serve as the Class I's director of government affairs in Washington, D.C.

Waldock Niethold brings a wide range of transportation policy experience to her new role, CN officials said in a press release.

Mattagami First Nation has filed a lawsuit against CN for damage caused by two train derailments near Gogoma, Ontario, in February and March 2015

The derailments spilled millions of liters of crude oil that damaged the local environment and watershed. The spills have had a "catastrophic" impact on the Mattagami First Nation's territory, First Nation officials said in a press release.

CN logged "solid" second-quarter 2017 financial results on strong volume growth across most commodity groups, the Class I reported yesterday.

CN's Q2 net income surged 20 percent to CA$1.03 billion, or CA$1.36 diluted earnings per share, compared with CA$858 million, or CA$1.10 diluted EPS, in the same period a year ago, according to a CN press release.

CN officials yesterday participated in a ground-breaking ceremony at Whirlpool Canada's distribution center now under construction at the railroad's Calgary Logistics Park in Rocky View County, Alberta.

The 425,000-square-foot building will serve as a distribution center for finished Whirlpool alliances coming to Alberta from across North America, CN officials said in a press release.