Record Grain Year for CP Rail

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Railways cars and fog in Thunder Bay

Thunder Bay – BUSINESS – Here in Thunder Bay it is easy to see how busy the Port of Thunder Bay has been. World-wide demand for grain has kept the number of ships in port up.

Between the large number of ships in the port, and the numerous times local drivers have been held up at rail crossings, our city above many others can see the impact.

All that grain has to arrive in the port by rail.

As a result, Canadian Pacific (TSX: CP) (NYSE: CP) moved 31.32 million metric tonnes (MMT) of Canadian grain and grain products in 2020, more than any prior calendar year in its history

At year’s end, CP also completed its best ever quarter and best ever December for hauling these commodities.

“Hard-won achievements like these require commitment and focus across the supply chain, but special credit must go to CP’s customers and their dedicated employees,” said Joan Hardy, CP Vice-President Sales and Marketing Grain and Fertilizers. “Their work to create a safe, efficient supply chain is an essential ingredient in our ability to deliver Canada’scrops to consumers at home and around the world.”

In the fourth quarter of 2020, CP moved 8.84 MMT of Canadian grain and grain products, which beats 2020’s second quarter, the previous record, by 5.1 percent. December 2020 totals came in at 2.84 MMT, beating out the previous record set in 2019 by 13.6 percent.

CP continues to invest in its grain fleet with additional hopper cars coming into service each week. CP has added more than 3,700 new hopper cars to its fleet via purchase or lease. The new high-efficiency railcars carry 15 percent more grain by volume and 10 percent more by weight compared to the older cars they are replacing.

CP voluntarily publishes a weekly Canadian grain and grain product supply chain scorecard. The scorecard outlines CP’s performance for the previous grain week and includes, when necessary, detailed information on any internal or external factors affecting grain movement. More information is available on CP’s website.