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CP explores growth with short lines, transload operators at 'Connect' conference

Rail News Home Canadian Pacific 10/30/2019 Rail News: Canadian Pacific
image Officials from Canadian Pacific, short lines and transload operators met this week to develop growth-producing service offerings for customers as part of a Connect 2019 conference held at the Class I's headquarters in Calgary, Alberta.The event — which followed up the success of CP's 2018 Reconnect Conference — was attended by representatives from more than 50 companies Oct. 28 and 29, officials from the Class I said in a press release."Our goal in bringing together these companies annually is to find efficiencies and opportunities, something of critical importance in today's economic climate," said John Brooks, CP's executive vice president and chief marketing officer. CP works with an extensive network of short lines and regionals, providing access to almost any North American location beyond the reach of the Class I’s network, CP officials said."Our solid relationships with our Class I connections are part of the backbone to growth," said Brian Jonaitis, director of business development at Indiana Rail Road Co.CP also works with more than 100 North American transload facilities. The transload business unit is a critical area of focus and development for the Class I, with many unique opportunities to build on the company's franchise strengths to generate sustainable, profitable growth, CP officials said."Our transload alliance with CP at the Minneapolis Intermodal Terminal has been the key driver of our growth," said Revis Stephenson, president of Stone Arch Commodities.In addition to Brooks, other CP leaders who participated in the event included Joan Hardy, VP of grain and fertilizers; Jonathan Wahba, VP of intermodal and automotive; and Coby Bullard, VP of merchandise and energy, and chemicals.

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Canadian Pacific posts record revenue, operating ratio in Q3

Rail News Home Canadian Pacific 10/24/2019 Rail News: Canadian Pacific
image Canadian Pacific yesterday announced it achieved record third-quarter revenue of CA$1.98 billion and a record-low quarterly operating ratio (OR) of 56.1 percent.Year over year, revenue was up 4 percent. The Class 1 reported Q3 adjusted net income climbed 8.7 percent to CA$640 million, or CA$4.61 earnings per share (EPS), from CA$589 million, or $4.12 per share, a year ago. CP's diluted EPS of CA$4.46 was up 3 percent.Q3 operating income rose 10 percent to CA$869 million from CA$790 million a year ago. CP's record-low quarterly OR of 56.1 percent was a 220-basis-point improvement from the same quarter last year."After a record second-quarter that included strong operating metrics including train speed and terminal dwell, we continue to see those performance measures be improved upon," said President and Chief Executive Officer Keith Creel in a press release. "Our disciplined approach to precision scheduled railroading and the commitment of our 13,000-strong CP family puts us in a position to control what we can as we navigate softer volumes, macroeconomic challenges and geopolitical tensions into the fourth quarter."CP's operating model enables the company to adapt to a changing environment, Creel said."While we now expect low-single digit volume growth for the year, we remain confident in our guidance to deliver full-year double-digit adjusted diluted EPS growth," he said.

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Canadian Pacific announces 2019 Holiday Train tour

Rail News Home Canadian Pacific 10/18/2019 Rail News: Canadian Pacific
image Decorated with thousands of colorful and glittering lights, the trains will depart on the U.S. tour on Nov. 25 and the Canadian tour, Nov. 26.Photo – Canadian Pacific

Canadian Pacific announced this week that the 2019 Holiday Train, the Class I's annual charity event to raise hunger awareness, will run Nov. 25 through Dec. 18.

Decorated with thousands of colorful and glittering lights, the trains will depart on the U.S. tour on Nov. 25 and the Canadian tour, Nov. 26.

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From the editor: CP's Pam Arpin is LRW's Railway Woman of the Year

Last month, the League of Railway Women (LRW) named Pam Arpin, assistant vice president of customer and corporate services at Canadian Pacific, the winner of the organization’s “Railway Woman of the Year” award.

LRW President Tanis Peterson and Progressive Railroading Publisher Kirk Bastyr presented the award to Arpin at Railway Interchange in Minneapolis.

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CP recognizes G3 Pasqua for grain elevator efficiency

Rail News Home Canadian Pacific 9/20/2019 Rail News: Canadian Pacific
image G3 Pasqua's participation in CP's Dedicated Train Program, 8,500-foot model capable track, and consistent and safe loading won the company the award, said Joan Hardy, CP's vice president sales and marketing grain and fertilizers.Photo – Canadian Pacific

Canadian Pacific on Sept. 18 presented G3 Pasqua with the Class I's 2018-19 crop-year Elevator of the Year Award.

CP presents the award annually to the grain elevator that achieves high volumes from a single loading point while consistently demonstrating efficient rail-car loading and a strong commitment to safety, CP officials said in a press release.

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Millions raised for pediatric care at CP Women's Open

Rail News Home Canadian Pacific 8/26/2019 Rail News: Canadian Pacific
image Jin Young Ko (shown with CP CEO Keith Creel) beat 155 other women to become the 2019 CP Women's Open champion.Photo – Canadian Pacific

Canadian Pacific announced yesterday that nearly CA$2.5 million was raised at the CP Women's Open golf championship, a new record.

A CA$2.2 million check was presented to the SickKids Foundation, which will go toward upgrading a cardiac operating suite for pediatrics. SickKids is the result of several fundraising efforts under the "CP Has Heart" program, CP officials said in a press release.

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CP announces retirements, shuffles leadership team

Rail News Home Canadian Pacific 8/8/2019 Rail News: Canadian Pacific
image Canadian Pacific yesterday announced organizational changes to support its profit and growth strategies.Effective Sept. 1, Mark Redd will begin his new role as executive vice president of operations. He will succeed Robert Johnson, who is retiring at the end of September. Redd joined CP in 2013 and most recently served as senior VP of operations in the western region.Also retiring in September is Tony Marquis, senior VP of operations in the eastern region. CP President and Chief Executive Officer Keith Creel expressed the company's thanks to Johnson and Marquis for their "service and dedication" to CP."Robert and Tony have developed an incredibly capable and dedicated operating team and I am excited to welcome Mark to lead that team," Creel said in a press release.Tracy Miller will succeed Marquis as senior VP of operations in the eastern region, while Greg Squires will serve as VP of operations in the western region. Both will report to Redd."As we advance in our precision scheduled railroading evolution, the importance of developing and empowering people cannot be overstated," Creel said. "Because of our bench strength and our unwavering commitment to developing the 13,000-strong CP family, we have strong options within when it comes to succession."Also effective Sept. 1, VP of Human Resources Chad Rolstad will add chief culture officer to his title. James Clements, who joined CP more than 20 years ago, will become senior VP of strategic planning and technology transformation. VP and Chief Information Officer Mike Redeker will report to Clements."Culture is the bedrock of a high-performing organization, and in Chad we have a leader who understands that," Creel said. "James is well equipped to take on the additional responsibility and has an innate ability to connect pieces across the company to the benefit of our customers."

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CP logs record crop year for Canadian grain, products

Canadian Pacific announced yesterday it moved 26.8 million metric tonnes (MMT) of Canadian grain and grain products during the 2018-2019 crop year, a 2.8 percent increase over the previous year and an all-time record for the Class I.

The amount of grain and grain products shipped during the year, which ran Aug. 1 through July 31, was 3.9 percent more than the railroad's three-year average. Over the past five years, CP has consistently shipped more grain each year, CP officials said in a press release.

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Canadian Pacific joins blockchain alliance

Canadian Pacific announced yesterday that has joined the Blockchain in Transport Alliance (BiTA).

CP is the latest Class I to join BiTA, which is developing new standards for using blockchain technology to enable a faster, more cost-efficient and transparent freight supply chain.

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CP recognized for logistics excellence

Rail News Home Canadian Pacific 6/19/2019 Rail News: Canadian Pacific
image Canadian Pacific was named "Best Logistics Service Provider-Rail" at the Asian Freight Logistics and Supply Chain Awards ceremony held June 17 in Hong Kong.The award recognizes CP for service quality, innovation,customer-relationship management and reliability, according to a CP press release."The CP teams in Asia and North America are focused on driving sustainable, profitable growth and this award demonstrates our customers' confidence in CP's service offering," said President and Chief Executive Officer Keith Creel. "We are committed to providing our customers with superior and reliable freight rail options from the Port of Vancouver to the rest of North America."CP was the only North American railroad nominated for the award."Since opening our Shanghai office last year, we have focused on deepening our relationships in Asia, starting with gaining a better understanding of our customers' needs," said Corey Heinz, CP's managing director, Asia.

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Canadian Pacific opens automotive compound in Vancouver

Rail News Home Canadian Pacific 6/7/2019 Rail News: Canadian Pacific
image CP built the VAC on 19 acres adjacent to CP's Vancouver Intermodal Terminal. Photo – Canadian Pacific

Canadian Pacific officials this week marked the opening of the Class I's new Vancouver Automotive Compound (VAC) in Vancouver, British Columbia.

The VAC is in a prime location to handle vehicles made in North America for distribution in British Columbia, northern Washington state and parts of Alberta, as well as vehicles imported through the Port of Vancouver, CP officials said in a press release.

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Canadian Pacific continues moving record amounts of grain

Canadian Pacific continues to set records for transporting Canadian grain and grain products, marking 22.5 million metric tonnes (MMT) moved from the start of the 2018-19 crop year through May 31, the Class I announced today.

Since August 2018, CP moved about 500,000 metric tonnes more grain than ever before, breaking a record set at this time in the 2015-16 crop year, said Joan Hardy, CP's vice president sales and marketing, grain and fertilizers.

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CP to serve as Yang Ming's Canadian rail carrier

Rail News Home Canadian Pacific 5/31/2019 Rail News: Canadian Pacific
image Canadian Pacific and Yang Ming Marine Transport Corp. have signed a three-year agreement calling for the Class I to serve as the company's rail carrier out of the Port of Vancouver."This agreement is a testament to our service, to our network capacity and room to grow at our inland terminals and to the tireless work we put in to understand our customers and create win-win solutions for the supply chain and the broader economy," CP President and Chief Operating Officer Keith Creel said yesterday in a press release.Effective Jan. 1, 2020, CP will handle all of Yang Ming's Vancouver traffic, which will be moved out of the Global Container Terminal's Deltaport.The agreement positions Yang Ming to connect with key North American customers due to CP's growing network of transload facilities, its live-lift operation at Portal, North Dakota, and its fast transit times between Vancouver and the Twin Cities, Chicago and beyond, CP officials said.

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Canadian Pacific elects Courville board chair

Rail News Home Canadian Pacific 5/8/2019 Rail News: Canadian Pacific
image Courville is the first woman to chair a North American Class I, according to CP.Photo – cpr.ca

Canadian Pacific's board yesterday elected Isabelle Courville as its new chair to succeed Andrew Reardon, who announced last year he is retiring.

At the company's annual shareholders meeting in Calgary, Alberta, the board also reelected Courville as a director. She is the first woman to hold the position at CP, as well as among other North American Class Is, said CP President and Chief Executive Officer Keith Creel in a press release.

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Canadian Pacific sets grain traffic record in April

Canadian Pacific moved a record amount of Canadian grain and grain products last month, the Class I announced last week.

CP moved a best-ever 2.6 million metric tons of grain and grain products, beating a previous record set in October 2018, CP officials said in a press release.

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Canadian Pacific posts revenue, income growth in Q1

Canadian Pacific reported first-quarter 2019 revenue of CA$1.77 billion grew by 6 percent and earnings rose about 3 percent during what company officials described as the one of the most challenging winters for the railroad in decades.

CP posted diluted earnings per share (EPS) of CA$3.09 (up 28 percent) and adjusted diluted EPS of CA$2.79 (up 3 percent). Operating income climbed 1 percent to CA$543 million, while net income rose 25 percent to CA$434 million versus the same period in 2018.

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TSB: Canadian Pacific train moved on its own before fatal derailment

A Canadian Pacific unit grain train began to move on its own prior to a fatal derailment that occurred early Monday near Field, British Columbia, the Transportation Safety Board of Canada (TSB) announced yesterday.

The derailment, which occurred between the Upper and Lower Spiral Tunnel, resulted in the deaths of the train's three crew members. They were identified as conductor Dylan Paradis, engineer Andrew Dockrell and trainee Daniel Waldenberger-Bulmer.

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CP derailment in British Columbia kills 3 crew members

A Canadian Pacific grain train derailed early yesterday near Field, British Columbia, resulting in the deaths of the train's three crew members.

The deceased were identified as conductor Dylan Paradis, engineer Andrew Dockrell and trainee Daniel Waldenberger-Bulmer, according to a statement issued by CP President and Chief Executive Officer Keith Creel.

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CP reports 'strong performance' in 2018

Canadian Pacific yesterday announced record operating income of CA$874 million for the fourth quarter, a 28 percent increase compared with the same period in 2017.

CP's revenue for the quarter climbed 17 percent to CA$2 billion from CA$1.7 billion a year ago. Q4 diluted earnings per share (EPS) fell 43 percent to $3.83 from $6.77 a year ago, however adjusted diluted EPS rose 41 percent to a new quarterly record of $4.55 from $3.22 in 2017, according to a CP press release.

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CP 'takes exception' to government probe into Vancouver rail service issues

Canadian Pacific executives are taking issue with a Canadian Transportation Agency (CTA) plan to include the Class I in a far-reaching investigation into possible freight-rail service problems in the Vancouver, British Columbia, area.

The CTA announced yesterday in a press release that such an investigation "would be appropriate based on information received from shipper associations and other parties." The agency plans to hold a public hearing in Vancouver in late January to provide railroads and shipper groups an opportunity to provide evidence in response to the CTA's concerns.

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