Winnipeg | Reuters — Barring a sudden pile-up of grain across Western Canada in the next five weeks, Ottawa will lift requirements that railways move minimum volumes of crops, Agriculture Minister Gerry Ritz said in an interview. While Ritz says he is not ruling out any options before the rules expire Nov. 29, government data […] Read more
Smoother grain flow points to Ottawa lifting rail regulations
CP CEO says unlikely to pursue hostile bid for CSX
Toronto | Reuters — Canadian Pacific Railway (CP) is still open to a merger with one of the two bigger eastern U.S. carriers even after talks with CSX Corp. failed, though a hostile bid is unlikely, CEO Hunter Harrison said Thursday. CP, Canada’s No. 2 railway with extensive operations in the U.S., said on Monday […] Read more
Prairie grain revenue up as CP books record Q3 profit
An increased grain handle for the three months ending Sept. 30 has helped boost Canadian Pacific Railway (CP) to its highest third-quarter profit ever. Calgary-based CP released its Q3 results Tuesday, reporting record net income of $400 million on record total revenue of $1.67 billion for the quarter, up from $324 million on $1.534 billion […] Read more
CP, CSX no longer talking merger
Canadian Pacific Railway (CP) has shut down last week’s media buzz about any possibility of a merger with the third biggest railway in the U.S. The Wall Street Journal and other media recently reported Calgary-based CP and Jacksonville-based CSX had held “exploratory talks” about combining their operations. [Related story] CP on Monday confirmed it had […] Read more
U.S. senator raises concerns over potential CP, CSX deal
Chicago | Reuters — The head of a U.S. Senate subcommittee raised concerns in a letter Thursday to the U.S. Attorney General and head of the top U.S. rail regulator about a potential merger between Canadian Pacific Railway and CSX Corp., and called on them both to fully review the antitrust implications of any such […] Read more
As clock winds down, CP’s CEO hunts for his dream deal
Toronto/Chicago | Reuters — Veteran railroad boss Hunter Harrison has won over many critics since taking over as chief executive of Canadian Pacific Railway (CP), but he still has unfinished business — creation of a consolidated North American railway — and is running out of time to do it. That might explain why CP, Canada’s […] Read more
Double whammy for oat growers as railways focus on West Coast backlog
Virtually all of the Prairie oat harvest goes to the U.S., but growers say shipping south isn’t even on the radar of the railways
Reading Time: 3 minutes The clogged rail system is affecting every grain producer on the Prairies, but oats growers are feeling additional pain. Market analyst Randy Strychar has called the situation a “train wreck,” noting some companies aren’t putting out bids until February 2015. “It’s not out of line to say that we’re probably one of the worst-hit crops,” […] Read more
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