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Crews work as Canadian Pacific Railway tracks are suspended above the washed-out Tank Hill underpass of the Trans-Canada Highway after devastating rain storms caused flooding and landslides, northeast of Lytton, B.C. on Nov. 20, 2021. (Photo: B.C. Ministry of Transportation and Infrastructure handout via Reuters)
Crops, Markets, Weather

Year-end profits up for CN, CP despite lower grain handles

Railways' ledgers weather drought, B.C. disasters

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Both of Canada’s big two railways were able to improve their overall gross and net in 2021 over 2020 despite a yield-robbing drought and disastrous track and bridge washouts in southern British Columbia. Canadian National Railway (CN) on Tuesday reported 2021 net income of $4.892 billion on $14.477 billion in gross revenue, up from $3.784
Tracy Robinson. (TCEnergy.com)
Crops

CN names new CEO, easing tussle with investor

Former CP executive Tracy Robinson returns to rail

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Reuters — Canadian National Railway on Tuesday named industry veteran Tracy Robinson as its new chief executive officer, soothing a months-long tussle with its second-largest shareholder over leadership at the railroad operator. Robinson will replace Jean-Jacques Ruest, who announced his decision to step down from the role in October following investor demands for his exit
(File photo by Dave Bedard)
Crops

CN over, CP well under 2020-21 grain revenue caps

Railways moved record-level volume during year, CTA says

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Coming off a record-level Prairie grain handle, Canadian National Railway’s $1.042 billion in 2020-21 Prairie grain revenue is set to be trimmed by about $2.52 million. The Canadian Transportation Agency on Wednesday released its determination that CN’s 2021-21 Prairie grain revenue of $1,044,909,345 came in $2,399,676 above its maximum revenue entitlement (MRE) for the year.
CN locomotives in Winnipeg. (Photo courtesy CN)
Crops

Hedge fund TCI seeks delay in CN CEO search

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Reuters — TCI Fund Management said on Thursday Canadian National Railway’s search for a new chief executive officer should be delayed until shareholders at the nation’s top rail operator vote for a new search committee to elect a CEO. The announcement comes days after CN said TCI’s pick and former Union Pacific executive Jim Vena
Crews work as Canadian Pacific Railway tracks are suspended above the washed-out Tank Hill underpass of the Trans-Canada Highway after devastating rain storms caused flooding and landslides, northeast of Lytton, B.C. on Nov. 20, 2021. (Photo: B.C. Ministry of Transportation and Infrastructure handout via Reuters)
Crops, Weather

Grain movement to Vancouver picking up

Railways seen recovering from B.C. damages faster than many had expected

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Western grain movement to the Port of Vancouver was at 60 per cent of normal as of Dec. 15 and is expected to continually improve, Mark Hemmes, Canada’s grain monitor and president of Quorum Corp. said in an interview Wednesday. “I think by next week it’s going to look a lot better,” he said. “Is
File photo of a CN locomotive in Winnipeg. (Dave Bedard photo)
Crops

Vena withdraws as candidate for CN CEO role

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Reuters — Canadian National Railway said on Monday Jim Vena, who was backed by a group of investors to lead the country’s largest railway operator, had pulled out of the running to serve as its new chief. Shares of CN fell as much as 6.5 per cent on the news. The former Union Pacific executive
File photo of a CN locomotive in Winnipeg. (Dave Bedard photo)
Crops, Weather

CN again reopens Kamloops-Vancouver corridor

'Quite a bit' of traffic shifted to Prince Rupert

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MarketsFarm — After recent heavy rains forced Canadian National Railway to close its Kamloops-to-Vancouver corridor for a second time, the railway reopened its critical line to Canada’s busiest port on Sunday. CN spokesperson Jonathan Abecassis said the corridor was initially closed a second time during the most recent spell of heavy rains in southwestern British
File photo of a CN locomotive in Winnipeg. (Dave Bedard photo)
Crops, Other, Weather

CN to reopen to Vancouver Wednesday

Prince Rupert also available, CN reminds shippers

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Canadian National Railway (CN) says it’s almost set to resume some service to Vancouver, starting early Wednesday. Montreal-based CN said in an emailed statement Tuesday that repair work on damaged sections of its track from Kamloops to Vancouver “progressed well over the weekend” and the line will reopen to “limited traffic” tomorrow “barring any unforeseen
Parts of the Trans Canada Highway at Abbotsford, B.C. remain submerged in flood waters on Nov. 19, 2021. (Photo: Reuters/Jennifer Gauthier)
Weather

Repair work on B.C. rail lines expected for days yet

CP expects to resume service 'mid-week;' some highways open only for essential travel

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Canada’s big two railways expect repair work to continue into at least next week before service can resume through storm-battered areas of British Columbia to export terminals at Vancouver. Both railways, along with several major B.C. highways, have been shut this week due to damage from flooding and landslides spurred by a major multi-day storm

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