Canadian Pacific Kansas City recently released its fourth-quarter report showing Canadian grain volumes are down 15 percent on a year-over-year basis. driven by the weak harvest.
The Assistant Vice President of Sales and Marketing for Bulk, Elizabeth Hucker, says their Executive Vice President and Chief Marketing Officer John Brooks noted that a key factor in the drop is the weak harvest in 2023-2024.
She notes that was especially true for the CPKC draw area in Southern Alberta and Southern Saskatchewan.
Hucker says they are monitoring the situation for the new crop year and are encouraged by the fact they continue to see their customers investing in growth and the CPKC 8500 foot train model.
"By the end of 2024 this year, 60 per cent of our franchise in Canada will be 8500 foot capable. This includes the most recent investments by Richardson International and their own elevator network. The 8500-foot model delivers significant efficiencies for both CPC, but also our customers. "
She adds that when combined with CPKC's most recent hopper car investment, they can move over 40 per cent more grain per train, by leveraging the value of that car acquisition as well as the longer train.
Click here to see more...