Morgan Stanley upbeat on CN’s 2024 growth expectations
Analysts at Morgan Stanley are bullish on the growth prospects for
Canadian National Railway Co.’s business units in 2024.
Analysts at Morgan Stanley are bullish on the growth prospects for
Canadian National Railway Co.’s business units in 2024.
Canadian railway CN is acquiring family-owned Iowa Northern Railway, a 275-mile short-line railroad serving the Upper Midwest.
Canadian railway CN, the Mississippi State Port Authority and Ports America have signed a memorandum of understanding for an intermodal service at the Port of Gulfport.
The rail industry continues to streamline operations and realign rail car fleet management via acquisitions.
Partnerships with other Class I railroads will help the freight rail industry gain market share, CN executives said during the Canadian railway’s third-quarter 2023 earnings call Tuesday.
Patrick Whitehead and Derek Taylor will lead different aspects of CN’s operations as the Canadian railway seeks to make its operations more “innovative” and “modern.”
CN has released its operational plans for the 2023-2024 winter season. But the Canadian railway says new regulations create some uncertainty.
An internal system update caused internet connectivity issues at CN on Tuesday, affecting the Canadian railway’s customer service portal.
Expanded service offerings, such as a reduction in transit time for the Falcon Premium intermodal service, should help support Union Pacific in the third and fourth quarters, UP leaders said at an investor conference this week.
Canadian railway CN and Norfolk Southern are partnering to create a domestic intermodal service that will connect Canadian customers with markets in the U.S. Southeast.
Rail service for the 2023-2024 crop year in Canada is expected to be smooth — provided that weather conditions and unforeseen global events cooperate.
Rail volumes to and from the Canadian ports of Vancouver and Prince Rupert are returning to normal after the 13-day strike in July, although capacity to catch up on the backlog appears limited for now, according to RailState’s analysis of its data.
Consumer demand is putting pressure on intermodal and lumber volumes and that is weighing on how CN views the back half of this year.
The Canadian wildfires and lower volumes for intermodal and crude oil put pressure on Canadian railway CN’s revenue for the second quarter of 2023.
As the labor strike continues at the ports of Vancouver and Prince Rupert, Class I railroads are taking steps to ensure that their networks face minimal disruptions.
Some families of victims of deadly railway accidents say railway police are torn between seeking the truth and protecting the company name. Railroads say safeguards are in place.
Canadian railway CN is monitoring wildfires across several provinces and is adjusting operations as needed.
Maritime and logistics services company Crowley and Canadian railway CN have joined in a new service that will connect Canada, the Midwest and the Gulf Coast of Mexico.
Union members working for CSX and CN said they have ratified labor agreements with their employers.
Not to be outdone by CPKC, CN said it is partnering with Union Pacific and Grupo México to provide a new, cross-continent intermodal service that will seek more truck-to-rail conversions.
Canadian railway CN and the union Unifor have reached a tentative collective deal, thus averting a potential strike. BNSF and Canadian Pacific also have reached agreements.
Union members representing those working in mechanical, intermodal and facility management at Canadian railway CN voted to go on strike should talks between the parties fail to reach an agreement.
CN will adjust its operating plan to run faster and potentially shorter trains and concentrate on courting customers where network capacity is available, executives said on the railway’s fourth-quarter 2022 earnings call.
Four Class I railroads have asked the Surface Transportation Board and U.S. appeals courts to review an order that seeks to resolve small rate disputes through voluntary arbitration.
The Surface Transportation Board wants Union Pacific to address service hiccups at California’s Foster Farms. Also, CN reports rail traffic controllers have ratified a new collective agreement.
Class I railroads CSX, CN, CP and KCS tout recognition for their sustainability efforts, while rail technology provider Wabtec gets a nod for its battery-electric locomotive.
CN and Norfolk Southern announce leadership changes. Transport Canada looks to fund projects aimed at promoting climate resiliency for rail infrastructure.
CN boasts record Canadian grain volumes, Watco completes a Texas terminal expansion, and the Association of American Railroads and the Intermodal Association of North America detail volume ups and downs.
CN expressed confidence it can handle any market downturns, pointing to areas such as grain and coal where demand strips away any potential macroeconomic softness, officials said during the railway’s third-quarter 2022 earnings call.
Freight projects get underway in Chicago and Laredo, Texas; CN beats its grain record; Patriot Rail appoints a new COO; and Canadian Pacific disputes a court ruling on an Alberta land sale.
Canadian railway CN and International Brotherhood of Electrical Workers members who are part of CN’s Canadian operations have a new labor contract at hand.
Canadian railway CN says it is positioning assets and adding more horsepower in order to keep the network fluid during extreme winter weather.
The Surface Transportation Board logged over 25 hours last week to hear from stakeholders about the advantages and drawbacks of the proposed Canadian Pacific and Kansas City Southern merger.
The Transportation Safety Board of Canada wants the country’s major railways to install enhanced train-control technology similar to positive train control in the U.S.
Canadian midstream operator Keyera and CN are considering creating an energy terminal that would serve the production-rich region.
CN and Canadian Pacific say they’re ready for an anticipated grain volume rebound in the new crop year that runs from Aug. 1 to July 31.
The Canadian government wants the railways to submit details on how they will maintain equipment when it gets cold in winter as part of a rail safety initiative.
Anticipated strength in domestic intermodal and higher grain volumes will support CN in the back half of this year, company executives said during the Canadian railway’s second-quarter 2022 earnings call.
The STB is sifting through hundreds of pages on the perceived advantages and disadvantages of a merger between Canadian Pacific and Kansas City Southern.
The Canadian government says it will fund infrastructure projects in Saskatchewan and Ontario, as well as research into how the railways can respond to climate-induced events.
Canadian railway CN and the International Brotherhood of Electrical Workers have agreed to enter binding arbitration, putting to end a two-week strike over wages and benefits.
Congressmen back calls from fertilizer and agricultural products shippers to improve freight rail service, plus news about a new federal grant program to eliminate railroad crossings and updates on CN and Canadian Pacific.
NS starts a new operating plan for intermodal; CN plans investments in Louisiana and Wisconsin; and MxV Rail agrees to share expertise with a UK group.
CN announced Monday it anticipates spending $355 million in 2022 to improve infrastructure in Illinois, Tennessee, Saskatchewan and New Brunswick.
The railway’s recent 2022 capital investment announcement brings the total to nearly CA$1.7 billion (US$1.32 billion) for six Canadian provinces.
In the past two days, the Canadian railway has announced approximately CA$1.5 billion (US$1.16 billion) in capital investments for four provinces.
The investments will go toward network improvements as well as technology and decarbonization initiatives.
Members of the International Brotherhood of Electrical Workers went on strike on Saturday.
Canadian railway CN has received a notice from the International Brotherhood of Electrical Workers that its members could go on strike this Saturday.
CN will implement Wabtec’s precision dispatch system over the next year.
“There’s been a big shock in the supply chains, and we’re working very hard to get our rhythm back and our operation back and to serve our customers well,” says new CEO Tracy Robinson.
Democratic leaders urge the Federal Railroad Administration to act on worker fatigue, while the Port of Montreal’s new container terminal will be served by rail.
Four Class I railroads have donated funds to support humanitarian relief efforts in Ukraine and surrounding areas. Also, U.S. and European rail sector officials form a task force to support Ukrainian freight and passenger rail.
CN and three other Class I railroads outlined to the Surface Transportation Board conditions that should be met before the board approves a merger between Canadian Pacific and Kansas City Southern.
The Surface Transportation Board wants more details about the concessions that BNSF and CN are seeking as Canadian Pacific acquires Kansas City Southern.
Canadian railway CN eyes volume growth from vaccine mandates and grain, and it expects higher volumes in the second half of 2022.
Canadian railway CN announced that former Canadian Pacific executive Tracy Robinson will succeed retiring CEO JJ Ruest at the end of February.
CN is asking the Surface Transportation Board to require Canadian Pacific to divest KCS’ Springfield Line in Missouri and Illinois to help ensure competition.
In this Q&A interview, FreightWaves chats with two CN executives about what customer benefits might arise from a seven-year partnership with Google Cloud.
Canadian Pacific inks a potash contract while CN’s British Columbia operations are nearly back to normal.
The end of 2021 brings the confirmation of a Surface Transportation Board member and approvals of short line requests.
The railroad veteran removed himself from consideration over the weekend.
CN begins moving trains on the Kamloops-Vancouver corridor three weeks after flooding and landslides in British Columbia knocked out its main Port of Vancouver rail link.
The terminal says it has “abundant space” at the Millennium Marine Rail facility in New Jersey, as well as competitive import dwell time.
Canada’s supply chain is in a “crisis situation” as over 50 ships wait to dock at the Port of Vancouver and CN struggles to restore service.
CN hasn’t been able to reopen its rail main link to the Port of Vancouver due to weather issues as large backlog of vessels continues.
CN’s line between Kamloops and Vancouver has been shut down since Nov. 15 following extensive flooding and mudslides. Canadian Pacific reopened its line to limited traffic on Monday.
Canadian Pacific says it will reopen its rail link with the Port of Vancouver on Tuesday, vowing to clear backlogs to “get the supply chain back in sync.”
CP and CN rail service at the Port of Vancouver could resume this week as mounting congestion and backlogs continue after devastating floods and landslides.
The Port of Vancouver warns of terminal disruptions and vessel delays after flooding in British Columbia cuts off CN and CP rails.
The Canadian railway is purchasing battery-electric freight locomotives from Wabtec and it is testing renewable fuel blends with Progress Rail.
Canadian Pacific and Kansas City Southern submit a joint application before the Surface Transportation Board asking to consolidate the two railroads while CN adds a rail and technology expert to its board.
In a quarterly earnings call, outgoing CEO JJ Ruest insists CN’s board of directors will conduct an extensive search for his successor. An activist investor is seeking to install its own CEO choice.
JJ Ruest, who has been criticized recently by an activist investor over CN’s attempt to merge with Kansas City Southern, has served CN for more than 25 years and will depart in January or whenever a successor is found.
TCI Fund Management continues to press CN shareholders to install a new CEO and four new board members.
The Transportation Safety Board of Canada has determined that there is no link between July’s devastating fire in Lytton and sparks coming from CN or Canadian Pacific trains.
Canadian railway CN and shareholder TCI Fund Management are publicly squabbling about who should run the company as CN sets a March meeting date to address TCI’s board candidate picks.
CN and CP unveil their annual winter operational plans, which include expectations that grain shipments will be down this year and that a La Nina event could mean lower winter temperatures for western Canada.
CN is seeking to generate CA$700 million in additional operating income in 2022 through cutting labor and operational costs and seeking pricing opportunities.
Kansas City Southern returns to its old flame and opts to merge with Canadian Pacific. Rival railway CN acknowledges its merger plans have been scrapped.
Major CN shareholder TCI Fund Management wants CN’s board to have more operational experience. The company is also still pushing for the removal of CN’s current CEO.
Kansas City Southern is returning to its original merger partner after federal regulators rejected CN’s proposed voting trust, which would’ve been used to acquire KCS.
Kansas City Southern shareholders pushed back a vote on whether to approve CN’s merger agreement to Sept. 24.
Kansas City Southern shareholders must decide whether to continue to pursue merger plans with CN or go with Canadian Pacific.
The Surface Transportation Board rejected CN’s application to establish a voting trust, which would be used as part of the process to acquire Kansas City Southern.
KCS’ board of directors confirmed plans to postpone the shareholder vote on the CN-KCS merger agreement until after the Surface Transportation Board renders a decision on CN’s proposed voting trust.
Although Canadian grain shippers anticipate lower grain harvest volumes for the 2021-2022 crop year, adequate rail service remains a chief concern.
The Association of American Railroads responds to regulator’s inquiry about supply chain congestion, while GoRail advocates for regulation supporting freight rail industry growth.
Kansas City Southern declined Canadian Pacific’s revised bid, opting to stick with CN. But a shareholder vote to approve the CN-KCS merger agreement could be held off if the Surface Transportation Board doesn’t issue its decision on CN’s voting trust by Tuesday.
CP is offering a stock-and-cash “superior proposal” worth an estimated US$31 billion.
Canadian Pacific and CN shattered records for hauling Canadian grain and grain products in the 2020-2021 crop year, which ran from Aug. 1, 2020, to July 31, 2021. More efficient […]
Kansas City Southern told its shareholders to focus on the proposed CN-KCS merger transaction and not on Canadian Pacific’s attempts to cast doubt on the merger’s chances of being approved by federal regulators.
SMART-TD must negotiate with Class I railroads on train crew size; Rail Customer Coalition calls on STB to take up reciprocal switching; ASLRRA praises progress on infrastructure bill; and Canadian Pacific urges KCS shareholders to vote against the proposed CN-KCS merger.
Rep. Peter DeFazio, D-Ore., doesn’t want federal regulators to approve a voting trust that Canadian railway CN would establish as part of the process to acquire Kansas City Southern.
Customers’ push to manage inventories will support rail volumes in the second half of the year, even though potential headwinds in the form of wildfires, supply chain congestion and COVID-19 loom.
Higher revenues propelled CN’s adjusted net income for the second quarter to grow by 16.5% to CA$1.06 billion.
With 39 ships at anchor, the Port of Vancouver is continuing to feel the strain as CP and CN resume service in a fire-afflicted region of British Columbia.
The reduction in train speeds between Kamloops and Boston Bar is designed to lessen the chances that sparks from a freight train could start a fire amid extreme heat and dry conditions.
Biden’s executive order calls on the Justice Department to help regulators monitor pricing practices and anticompetition in the container shipping and rail sectors.
A disruption to CN and CP rail service caused by a wildfire is putting the Port of Vancouver under pressure as Maersk and Hapag-Lloyd warn of delays and congestion.