Body found in abandoned Sydney train station
CN reports falling revenue, rising demand
Lower volumes, revenue dampen CN’s third-quarter profit
CN ‘cautiously optimistic’ on rail volumes
CP to acquire full ownership of Detroit River rail tunnel
Canadian Pacific Railway union serves strike notice
Canadian National Railway orders 50 all-electric trucks for intermodal fleet
Canadian National ‘pleased’ as rail blockade ends
Changes to Canadian railway regulations will improve employee safety
VIA Rail to increase self-service ticketing functions
CN Rail says that its operations are performing better than it expected so far in the second quarter after a rough winter that led to the replacement of its chief executive.
Chief financial officer Ghislain Houle told a transportation conference on Tuesday that volumes are up 14 per cent in the first two weeks of May after falling four per cent in the first quarter.
Demand is strong for frac sand, lumber, Canadian grain and coal, he said.
The Montreal-based railway says its port facility at Prince Rupert, B.C., is expanding faster than expected and should hit capacity two years ahead of schedule.
Houle says the operating performance will see a particular improvement in the fourth quarter after significant investments in the railway network, especially in Western Canada.
CN Rail increased its capital expenditures by $200 million to reach $3.4 billion, is qualifying hundreds of new conductors and buying 200 locomotives over the next three years.
Two days after CN Rail dumped its CEO in March, his interim replacement, Jean-Jacques Ruest, apologized for the railway’s poor performance last winter and promised immediate action to clear the backlog of grain shipments.
This article first appeared on www.thestar.com
About this website
Railpage version 3.10.0.0037
All logos and trademarks in this site are property of their respective owner. The comments are property of their posters, all the rest is © 2003-2020 Interactive Omnimedia Pty Ltd.
You can syndicate our news using one of the RSS feeds.