Potash intermodal drive growth at Canadian Pacific

RELATED TOPICS: CLASS 1 FREIGHT RAILROADS
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CALGARY, Alta. — Canadian Pacific’s traffic volumes are up 14 percent on surprising surges in intermodal traffic and exports of potash fertilizer, the Toronto Sun has reported. CP Chief Financial Officer Kathryn McQuade said the moves, which both involve primarily the port of Vancouver, B.C., have surprised the railroad.

“We did anticipate growth, but we didn’t see the West Coast kind of being on fire like we are seeing today,” McQuade told an investor conference in Montreal.

Potash has seen strong demand in both the U.S. and overseas, and CP holds the exclusive contract for Canpotex, the export arm of Canada’s major potash producers. The fertilizer is mined in large volumes in Saskatchewan, and both CP and competitor CN serve mines there.

“I think it is a positive for rails, as rails have to move the product,” McQuade said. “We have great connections, good mine access … and some of the best lines to tidewater.
CPpotash
Two Canadian Pacific diesels operating in distributed power mode muscle a Canpotex potash train past Craven, Sask., on Sept. 5, 2009. Canpotex exports potash through the ports of Vancouver, B.C., and Portland, Ore.
Mark Jackson
CALGARY, Alta. — Canadian Pacific’s traffic volumes are up 14 percent on surprising surges in intermodal traffic and exports of potash fertilizer, the Toronto Sun has reported. CP Chief Financial Officer Kathryn McQuade said the moves, which both involve primarily the port of Vancouver, B.C., have surprised the railroad.

“We did anticipate growth, but we didn’t see the West Coast kind of being on fire like we are seeing today,” McQuade told an investor conference in Montreal.

Potash has seen strong demand in both the U.S. and overseas, and CP holds the exclusive contract for Canpotex, the export arm of Canada’s major potash producers. The fertilizer is mined in large volumes in Saskatchewan, and both CP and competitor CN serve mines there.

“I think it is a positive for rails, as rails have to move the product,” McQuade said. “We have great connections, good mine access … and some of the best lines to tidewater.
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