Canadian Pacific Kansas City

Metra renews suit against STB over CP-KCS merger approval

Chicago commuter rail provider Metra has renewed its lawsuit criticizing how the Surface Transportation Board handled its review of the merger between Canadian Pacific and Kansas City Southern. Metra joins Union Pacific and a Chicago-area citizens group in suing STB.

In a Sept. 29 filing before the U.S. District Court of Appeals in Washington, D.C., Metra asked the court to find that STB’s March 15 approval of the CP-KCS merger was unlawful and should be sent back to the board so it can address...

https://www.freightwaves.com/news/metra-sues-stb-over-cp-kcs-merger-approval

Canadian grain shippers hopeful about rail service in current crop year

Canadian grain producers generally expect rail service in the 2023-2024 harvest year to meet market needs, but they’re keeping an eye on other factors that could affect rail service in the coming years, such as grain export capacity at the Port of Vancouver.

Grain shippers are also waiting for the supply chain to completely recover from a July labor strike at the ports of Vancouver and Prince Rupert.

“It’s always the same story this time of year when it comes to rail service and rail capacity. We...

https://www.freightwaves.com/news/canadian-grain-shippers-hopeful-about-rail-service-in-current-crop-year

Port-bound rail volumes approach prestrike levels in Canada

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Rail volumes have largely returned to normal at the Canadian West Coast ports of Vancouver and...

https://www.freightwaves.com/news/port-bound-rail-volumes-approach-prestrike-levels-in-canada

Cross-border traffic, West Coast port activity benefit Eastern railroads

Canadian Pacific Kansas City’s plans to drum up additional cross-border business will benefit shippers wanting to use the eastern U.S. Class I railroads to access markets in the Southeast, according to executives speaking at an investor conference this week.

“I haven’t seen a new interchange pop up [in my years at CSX] … that is going to be as significant as this one,” CSX CFO Sean Pelkey said at Deutsche Bank’s transportation conference for investors Tuesday. 

Pelkey was referring to plans that...

https://www.freightwaves.com/news/cross-border-traffic-west-coast-port-activity-benefit-eastern-railroads

CPKC using ‘self-help’ strategies to recover $80M lost in Canadian ports strike 

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The work stoppage by members of the International Longshore and Warehouse Union at Canadian West...

https://www.freightwaves.com/news/cpkc-using-self-help-strategies-to-recover-80m-lost-in-canadian-ports-strike

CPKC’s Q2 net income rises above $1B

Higher combined revenues for the second quarter of 2023 helped boost net profits for Canadian Pacific Kansas City.

Revenues for the second quarter were nearly CA$3.2 billion (US$2.4 billion), up 44% year over year (y/y), CPKC said Thursday afternoon. The y/y figure reflects CP’s results in the second quarter of 2022. Canadian Pacific and Kansas City Southern completed their merger in April to become CPKC (NYSE: CP). Results are reported in Canadian dollars. 

Net income was $1.3 billion, or $1.42...

https://www.freightwaves.com/news/cpkcs-q2-net-income-rises-above-1b

Canada’s dockworkers strike impacts freight rail operations

The effects of the dockworkers strike at West Coast ports in Canada is reverberating through the supply chain and to the railways.

About 7,400 workers with the International Longshore & Warehouse Union Canada’s Longshore Division went on strike last Saturday after negotiations with the British Columbia Maritime Employers Association failed to reach a new labor contract.

The strike is affecting container cargo traffic at two of Canada’s busiest ports, Vancouver and Prince Rupert, key export...

https://www.freightwaves.com/news/canadas-dockworkers-strike-impacts-freight-rail-operations

Critics challenge the independence of railroad-employed police

If railway police officers investigating an incident encounter evidence that could be damning to a rail company, do they see their primary duty as seeking all the facts or protecting the company’s name?

For some families of loved ones who died in railway accidents, that question is not merely academic.

Since October, FreightWaves has conducted a series of interviews on the issue, including the question of whether a governmental or other third-party entity should be responsible for ensuring that...

https://www.freightwaves.com/news/critics-challenge-the-independence-of-railroad-employed-police

CPKC now offering daily intermodal service between Midwest, Mexico

Canadian Pacific Kansas City is now offering a daily premium intermodal service running between the U.S. Midwest and Mexico.

This latest offering, which CPKC (NYSE: CP) says will be “the first truck-competitive, single-line rail service option between the Midwest and Mexico,” comes as competing Class I railroads aim to bolster their own transcontinental offerings. Late last month, rival CN (NYSE: CNI) announced it, Union Pacific (NYSE: UNP) and Mexico railway Ferromex would be offering a...

https://www.freightwaves.com/news/cpkc-now-offering-daily-intermodal-service-between-midwest-mexico

Union Pacific takes Surface Transportation Board to court over CP-KCS merger

Union Pacific is asking a federal district court to review the decision by the Surface Transportation Board to approve the merger between Canadian Pacific and Kansas City Southern.

UP had expressed concerns during STB hearings on the merger that the board needed to impose conditions upon CP and KCS that would ensure competition at interchanges.

“The merger of Kansas City Southern and Canadian Pacific is likely to reduce competition and negatively impact shippers and stakeholders,” UP (NYSE: UNP)...

https://www.freightwaves.com/news/union-pacific-takes-surface-transportation-board-to-court-over-cp-kcs-merger

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