Canadian Pacific seals relationship with CMA CGM
Canadian Pacific will become the primary rail provider at the ports of Vancouver, Montreal and Saint John for ocean carrier CMA CGM as part of a multiyear agreement, the railway announced Tuesday.
CP’s access to the ports of Vancovuer and Montreal, as well as CP’s connection to Port Saint John in New Brunswick via the New Brunswick Southern Railway, will help the railway move the majority of freight from CMA CGM to key Canadian and U.S. Midwest inland markets, CP (NYSE: CP) said.
“CP is proud to provide CMA CGM with safe and reliable service that includes the shortest route miles to key markets,” said CP Chief Marketing Officer John Brooks in a release.
CP’s acquisition of Kansas City Southern is still pending before the Surface Transportation Board. CP said Tuesday its agreement with CMA CGM recognizes future growth opportunities associated with the pending merger.
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Trinity Industries acquires rail logistics software platform
Railcar lessor Trinity Industries has acquired Quasar Platform, an end-to-end rail logistics software platform from Cando Rail & Terminals. The software provides real-time data to freight rail shippers and operators.
Trinity (NYSE: TRN) says the acquisition will enhance the technology products that are already part of the company through additional capabilities such as yard management, activity-based costing and new data visualization tools.
The acquisition closed last Thursday at an undisclosed sum. Quasar’s employees will stay on with the company as part of the transaction.
“This acquisition is an important enhancement to the Trinsight platform, as Trinity is committed to growing its services offering with new innovations to create deeper relationships with, and a better experience for, rail shippers,” said Trinity Chief Commercial Officer Gregg Mitchell in a release.
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