Railroad News

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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Canadian Pacific tallies 2018 Holiday Train donations

Rail News Home Canadian Pacific 12/26/2018 Rail News: Canadian Pacific
image The train recently completed its 20th journey through Canada and the United States as part of CP's charitable efforts.Photo – Canadian Pacific

Canadian Pacific's 2018 Holiday Train is on track to have raised more than CA$1.3 million and collected more than 200,000 pounds of food for local food banks, the Class I announced last week.

The train recently completed its 20th journey through Canada and the United States as part of the railroad's charitable efforts.

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CP and grain: New high efficiency train, new monthly volume mark

Canadian Pacific yesterday unveiled its first 8,500-foot high efficiency product (HEP) grain train at G3 Canada Ltd.’s Pasqua elevator near Moose Jaw, Saskatchewan.

The HEP train features more efficient hopper cars and is designed to move about 44 percent more grain than the Class I’s prior generation of grain train. The new hopper cars feature a capacity 10 percent greater by weight than older-model Canadian government cars, and can hold 15 percent more volume.

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CP broke grain, biofuel shipping records in October

Canadian Pacific has broken its record for the shipment of grain, moving 2.64 million metric tons (MMT) of Canadian grain and grain products in October, the Class I announced today.

The milestone makes October 2018 CP's biggest month ever for moving Canadian grain, breaking a record set in September 2017, CP officials said in a press release.

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CP reports preliminary Q3 results, updates 2018 guidance

Canadian Pacific today reported preliminary third-quarter results, updated its 2018 guidance and unveiled the next phase of its long-term strategy for driving sustainable, profitable growth.

Third-quarter revenue is expected to increase by 10 percent to a record high of CA$1.9 billion. Reported diluted earnings per share (EPS) are expected to be about CA$4.35, while adjusted diluted EPS are expected to be about CA$4.10 — the highest in company history, CP officials said in a press release.

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Canadian Pacific, short lines strengthen ties at Reconnect 2018

Canadian Pacific and members of its short line and regional connections recently met for two days to participate in the CP Reconnect 2018 Short Line and Regional Railroad Conference held in Calgary, Alberta.

At the conference, CP, short line and regional representatives discussed shared opportunities for advancing the North American supply chain, CP officials said in a press release.

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Bargain hunters: Canadian Pacific, two unions bag mutually beneficial pacts

The Teamsters Canada Rail Conference-Train & Engine division bargains for 3,000 CP locomotive engineers and conductors.Photo – Shutterstock/Erez Shany

By Jeff Stagl, Managing Editor

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CP extends reach into Ohio Valley via Bluegrass Farms intermodal facility

Canadian Pacific announced yesterday a new partnership with Genesee & Wyoming Inc.  and Bluegrass Farms of Ohio that enables the Class I to serve customers in the Ohio Valley region. 

Under the agreement, CP has obtained an exclusive agreement with Bluegrass Farms to use the consortium's 90-acre intermodal facility in Jeffersonville, Ohio. Bluegrass Farms will continue to own the facility and operate it on behalf of CP. The Class I and G&W have agreed to provide rail service to the facility through G&W's Indiana & Ohio Railway (IORY) line.

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CP preps grain service for 2017-18 crop year

Canadian Pacific has readied its Dedicated Train Program (DTP) in preparation for grain service during the 2017-18 crop year, the Class I announced today.

More than 75 percent of CP's grain service will employ the DTP this season. The program offers customers greater control of rail-car supply to manage their supply chain, CP officials said in a press release. Grain is the Class I’s largest line of business.

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Canadian Pacific, K+S Potash open mine site

5/3/2017    

Rail News: Canadian Pacific

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CP knocks safety leader's comments on train-crew fatigue

11/2/2016    

Rail News: Canadian Pacific

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CP Q3 revenue falls 9 percent, names Velani CFO

10/19/2016    

Rail News: Canadian Pacific

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Canada's TSB issues CP train derailment report

9/1/2016    

Rail News: Canadian Pacific

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Pershing Square sells stake in Canadian Pacific

Pershing Square Capital Management L.P. on Wednesday announced the sale of its interest in Canadian Pacific Railway.

The capital management firm sold its 9.8 million shares in CP with JPMorgan Chase, Credit Suisse and Bank of America Merrill Lynch acting as underwriters for the offering, according to a CP press release.

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CP posts 12 percent decline in Q2 revenue, announces Creel as next CEO

Canadian Pacific's second-quarter 2016 revenue fell 12 percent to $1.45 billion, operating income dropped 15 percent to $551 million and net income decreased 16 percent to $328 million (all in Canadian dollars) compared with the same period last year, the Class I announced this morning.

Reported diluted earnings per share declined 9 percent to $2.15 from $2.36 and adjusted diluted earnings per share decreased 16 percent to $2.05 from $2.45 due in large part to the 12 percent drop in revenue, CP officials said in a press release.

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From the editor: Rail rides the uncertainty curve

— by Pat Foran, editor

Class I second-quarter earnings announcements were two to three weeks away as we prepared to finish our July issue, but Class I execs already had let the world know that the year-over-year comparisons weren’t going to be good. They told us that in April during their Q1 earnings conferences and reminded us last month.

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CP to lay off 500 MOW workers

Canadian Pacific yesterday began laying off 500 track maintenance workers, the Teamsters Canada Rail Conference announced on its website.

The "temporary layoffs are the result of lower car volumes and a softening demand in a lackluster North American economy," said CP Assistant Vice President of Public Affairs and Communications Martin Cej in a prepared statement to CBC News, which the union also posted on its website.

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