Canadian Pacific Railway

Regulators OK Canadian Pacific-Kansas City Southern merger

This story is developing.

The Surface Transportation Board has approved, with conditions, Canadian Pacific’s plans to merge with Kansas City Southern, paving the way for CP to take control of KCS as early as April 14.

The conditions include an “unprecedented” seven-year oversight in which CP (NYSE: CP) and KCS will provide extensive data to STB on issues raised during the approval process, including whether the merged company is preserving efficient interline operations at affected gateways, as...

https://www.freightwaves.com/news/regulators-ok-canadian-pacific-kansas-city-southern-merger

Illinois lawmakers want regulators to delay decision on CP-KCS merger

Four congressional leaders from Illinois want the Surface Transportation Board to hold off on making a decision about whether to approve the merger between Canadian Pacific and Kansas City Southern because of their concerns about the data used in the environmental impact statement (EIS) prepared by the board.

The Illinois delegation consisting of U.S. Senate Majority Whip Dick Durbin, Sen. Tammy Duckworth and Reps. Raja Krishnamoorthi and Delia Ramirez, all Democrats, is calling for the data...

https://www.freightwaves.com/news/illinois-lawmakers-want-regulators-to-delay-decision-on-cp-kcs-merger

Canadian Pacific touts record grain movements in January

Canadian Pacific established a monthly record in January for how much grain it moved during the month.

CP (NYSE: CP) transported 2.29 million tons of Canadian grain and grain products in January. Since the start of the 2022-23 crop year on Aug. 1, CP has carried more than 15 million metric tons.

January’s total represents more than double what was shipped in January 2022, according to CP. Setting the record is also significant because rain in Vancouver, British Columbia, holiday closures and...

https://www.freightwaves.com/news/canadian-pacific-touts-record-grain-movements-in-january

Canadian Pacific ‘ready to roll’ on Kansas City Southern merger

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Canadian Pacific officials are upbeat about what 2023 might bring for the railway, with U.S....

https://www.freightwaves.com/news/canadian-pacific-ready-to-roll-on-kansas-city-southern-merger

Noise still main consequence of proposed CP-KCS merger

The Surface Transportation Board’s Office of Environmental Analysis upheld its conclusion that increased railroad noise levels in some communities would be the greatest environmental impact resulting from the merger between Canadian Pacific and Kansas City Southern, according to a final statement released Friday.

While the final environmental impact statement (EIS) didn’t find any other significant consequences resulting from the merger, it provided recommendations that STB could use as...

https://www.freightwaves.com/news/noise-still-main-consequence-of-proposed-cp-kcs-merger

Class I railroads earn environmental accolades

A number of Class I railroads have recently earned recognition for efforts to follow guidelines promoting environmental, social and governance (ESG) values. Rail technology provider Wabtec also received accolades for its battery-electric locomotives.

The Dow Jones Sustainability North America Index (DSJI) named CSX (NASDAQ: CSX), Canadian Pacific (NYSE: CP) and CN (NYSE: CNI) to its annual list of companies to achieve high scores on S&P Global’s Corporate Sustainability Assessment (CSA). 

More...

https://www.freightwaves.com/news/class-i-railroads-earn-environmental-accolades

Rail Roundup: Breaking ground and breaking records

CREATE breaks ground on 2 congestion-reducing projects in Chicago

The Chicago Region Environmental and Transportation Efficiency (CREATE) Program broke ground Tuesday on two projects aimed at improving network flows for freight and passenger trains in Chicago.

The Forest Hill Flyover project involves the construction of a bridge that the CREATE Program says will reduce conflicts between freight rail carriers Chicago Belt Railways, CSX (NASDAQ: CSX) and Norfolk Southern (NYSE: NSC) and passenger...

https://www.freightwaves.com/news/rail-roundup-breaking-ground-and-breaking-records

7 takeaways from STB’s hearing on proposed CP-KCS merger

Last week’s public hearing before the Surface Transportation Board on the proposed merger of Canadian Pacific and Kansas City Southern consisted of three days of testimony spanning over 25 hours on why or why not the merger should proceed. 

And the hearing isn’t over yet. Shippers and other stakeholders provided oral testimonies to STB on Monday and Tuesday, while CP (NYSE: CP) is expected to respond to them during a hearing Thursday.

Shareholders of CP and KCS approved the $31 billion merger in...

https://www.freightwaves.com/news/7-takeaways-from-stbs-hearing-on-proposed-cp-kcs-merger

Whistleblower questions CP police force powers in US after KCS merger

A locomotive with the letters CP emblazoned in the front hauls railcars by a tree-covered mountain.

While much of the focus on the proposed merger between Canadian Pacific and Kansas City Southern has been on keeping cross-border gateways open to competing railroads, a Canadian attorney is asking whether there will be national security consequences if a corporate police force run by a foreign entity is operating on U.S. soil.

Tavengwa Runyowa, a Regina, Saskatchewan-based lawyer, plans to address that issue before the Surface Transportation Board’s three-day hearing later this week on the...

https://www.freightwaves.com/news/whistleblower-questions-cp-police-force-powers-in-us-after-kcs-merger

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