Canadian Pacific moves record quarterly volume of local grain
CANADIAN Pacific (CP) moved more Canadian grain and grain products in the fourth quarter than any prior corresponding period in its history, with the weight coming in at 7
CANADIAN Pacific (CP) moved more Canadian grain and grain products in the fourth quarter than any prior corresponding period in its history, with the weight coming in at 7.9 million metric tonnes (mmt).
As of year end, the company's movement of grain for the 2019-2020 crop year was 12.17 mmt, up 2.1 per cent over last year. The 2019 calendar year, which includes portions of two separate crop years, was a record at 27 mmt, an official statement said.
'2019 has been a banner year for CP and the Canadian grain supply chain despite the challenging economic and environmental conditions,' said vice-president sales and marketing Joan Hardy.
'These month-after-month records are a testament to the hard work from everyone involved: from field to rail to port, all stakeholders have collaborated closely to ensure we are delivering for farmers and the Canadian economy.'
CP now has 2,170 new high-capacity hopper cars in its fleet and plans to have 3,300 cars by the end of 2020 for the movement of grain. These cars are part of CP's plan to acquire 5,900 new hopper cars over four years since shippers are loading one tonne of extra grain per car compared to the same period last year.
Its 8,500-foot high efficiency product (HEP) train model is a significant factor in CP's record-breaking quarter. As of today, 15 per cent of the high throughput elevators that the company services are handling these longer, high-efficiency trains, which can carry up to 44 per cent more grain per train. By the end of 2020, one-quarter of CP-served train-loading facilities will be HEP-qualified.