Executives from both Canadian National (CN) and Canadian Pacific (CP) said that they anticipate a boost in crude-by-rail traffic come springtime, Trains Magazine reports.
Both CN Chief Financial Officer Ghislain Houle and CP Chief Marketing Officer John Brooks presented Nov. 13 at the Scotiabank Transportation & Industrials Conference in Toronto and said their railroads would be readying for increased oil traffic when the spring arrives and the country’s grain shipping rail traffic winds down, the magazine reported.
A lack of pipeline capacity is restricting the amount of oil that can flow, and crude-by-rail traffic has ramped up to a level approaching the country’s 2014 peak of a rate of 140,000 carloads annually, the magazine reported.
Data from the Association of American Railroads show that petroleum product shipments are up by more than 30 percent for both Canadian Class I carriers.
The full article is available on the Trains Magazine website (subscription required).
Related News
- TD to transit agencies: Let’s try “every single thing” to protect our operators
- SMART-TD Union Demands Action in Wake of Los Angeles Bus Hijacking
- Former Alt. VP, GC ‘Pate’ King passes away
- We say: ‘No crew, no engine, NO WAY that’s safe!’
- New report blows the whistle on railroads who cover up injuries and death
- Youngkin vetos Virginia two-person freight crew bill
- REEF Act passes in Senate committee
- SMART-TD provides focused training for bus and transit officers
- Oberman calls out UP, BNSF for cutting jobs when they should focus on growth
- BNSF labor cuts mean Warren Buffett is more about dollars than sense — SMART-TD responds