CP records best-ever month for Canadian grain transport
(Source: Canadian Pacific Railway press release, November 12, 2019)
CALGARY ó Canadian Pacific moved more Canadian grain and grain products in October than any month in the company's history, delivering 2.66 million metric tons (MMT) to market. The high-capacity grain hopper cars now serving in CP's fleet helped to enable the record by increasing the amount of grain carried in each railcar.
"This record is a testament to ongoing collaboration with our customers and innovation within the grain supply chain," said Joan Hardy, CP Vice-President Sales and Marketing, Grain and Fertilizers. "I thank our customers for their efforts, and the hard-working men and women of CP for delivering safely and efficiently for shippers, farmers and the broader economy."
The October haul is the second time in calendar year 2019 that CP has set a monthly record for grain handled. In April, CP moved 2.64 MMT of Canadian grain and grain products to market, breaking the prior record.
The October record comes amid rising efficiency on CP's grain network. On average, each CP hopper carried 1.2 metric tons of additional grain compared to a year earlier. CP now has more than 1,900 new high-capacity hopper cars in its fleet, with plans in place for another 1,400 cars by the end of 2020. The fleet will continue to grow in the years ahead as part of CP's $500 million commitment to invest in 5,900 new hopper cars. Shippers are able to load up to 10 percent more grain by weight and 15 percent more by volume in these cars compared to the older, less-efficient hopper cars they are replacing.
CP's 8,500-foot High Efficiency Product (HEP) train model, announced in 2018, is driving investment at terminals across CP's grain franchise. This highly efficient operating model, combined with customer investments at terminals, generates significant new capacity for the supply chain. By the end of this crop year, more than 20 percent of CP's Canadian grain volume will move under the HEP train model.
Tuesday, November 12, 2019
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