Railroad News

10/31/2016    

Rail News: Canadian National Railway - CN

10/26/2016    

Rail News: Canadian National Railway - CN

10/11/2016    

Rail News: Canadian National Railway - CN

9/30/2016    

Rail News: Canadian National Railway - CN

9/29/2016    

Rail News: Canadian National Railway - CN

9/19/2016    

Rail News: Canadian National Railway - CN

The Canadian infrastructure investment fund CDPQ Infra has entered into an agreement with CN to acquire the aerial structure leading to Central Station from CN in Montreal, the parties announced yesterday.

The agreement marks a major step in the development of the Reseau electrique metropolitain (REM) as a unified system with Central Station serving as the intermodal hub linking four metropolitan branches, CN and CDPQ Infra officials said in a press release.

Collaborative logistics and marketing efforts by CN, Archer Daniels Midland Co. (ADM) and the Midwest Inland Port (MIP) have helped increase container shipments over ADM's intermodal ramp in Decatur, Ill., the companies announced yesterday.

CN is transporting an increasing number of import containers from the Port of Montreal and the Port of Prince Rupert, British Columbia, to the Decatur facility. The Class I serves the facility three times weekly to deliver goods to Midwest customers, according to a press release issued by CN and ADM.

The Canadian Environmental Assessment Agency (CEAA) is seeking public comments to help determine whether a federal environmental assessment is required for Pembina NGL Corp.'s proposed rail yard project near Redwater, Alberta.

The company proposes to construct and operate about 22 miles of track and realign 5.5 miles of track at its fractionation and storage facility near Redwater. Pembina NGL would use the yard to accept empty rail cars and organize filled cars onto trains operated by CN, which would deliver the cars to their respective destinations. The project would increase the facility's daily loading capacity from 184 cars to 260 cars.

CN's second-quarter 2016 net income declined slightly to $858 million, or $1.10 in diluted earnings per share, from $886 million, or $1.10, a year ago due to lower traffic volumes, the Class I announced yesterday. (All monetary figures are reported in Canadian dollars.)

Operating income fell 5 percent to $1.3 billion and revenue slipped 9 percent to $2.8 billion, as carloads plunged 12 percent during the quarter compared with Q2 in 2015.

SSA Marine, Melford International Terminal and Cyrus Capital Partners LP announced yesterday the formation of a joint venture that will construct a container terminal as part of the Melford Atlantic Gateway project in Nova Scotia.

The new 315-acre marine container terminal will be built at the Strait of Canso, Nova Scotia, and will become the closest North American port on the circle route to Europe and Asia via the Suez Canal, the companies announced in a joint press release.

CN's board announced yesterday that incoming President and Chief Executive Officer Luc Jobin has been been named a board director. Jobin will take over the company's top executive position on Friday.

Jobin will succeed Claude Mongeau as president and CEO. As a board director, Jobin replaces Mongeau, who announced earlier this month that he would step down from his post due to health reasons.

The Transportation Marketing & Sales Association (TMSA) recently named CN Director of Marketing Innovation Marie-Chantal Savoy its 2016 Marketing Executive of the Year.

The award recognizes a senior-level leader in the transportation and logistics industries who has demonstrated strategic thinking and intelligent execution of marketing initiatives to meet their organization's business goals. The award is part of TMSA's mission to honor the efforts of marketing, sales and communications professionals in the two industries.

The Canadian Environmental Assessment Agency and the Canadian Transportation Agency are soliciting public input on a draft agreement to establish a review panel for CN's proposed logistics hub in Milton, Ontario.

When finalized, the agreement will help establish the panel's mandate and authority, as well as procedures and timelines for the review under the Canadian Environmental Assessment and Canada Transportation Acts, Canadian government officials said in a press release.

— by Pat Foran, editor

I met Claude Mongeau during a May 2004 visit with CN executives in Toronto. At the time, he was CN’s executive vice president and chief financial officer, and leader of the strategic planning process. I talked with him about a range of subjects, from service-plan discipline to strategic planning to continuous improvement. We also talked about culture, or what it was that made CN “CN.”

CN President and Chief Executive Officer Claude Mongeau will step down at the end of June, the Class I announced this morning. Chief Financial Officer Luc Jobin has been named Mongeau's successor effective July 1.

Mongeau said he would leave the post due to health reasons. In January, he returned to work following a six-month medical leave after he was diagnosed with a rare type of tumor in his throat. During the leave, he underwent surgery to remove his larynx.