-19 C
Fort St. John
Thursday, January 17, 2019
Tel: 250-787-7100
9924 101 ave Fort St. John, B.C.
Advertisement
Advertisement

CN Rail says operations performing better than expected after tough winter

Advertisement

BOSTON, MA – CN Rail says that its operations are performing better than it expected so far in the second quarter after a rough winter that led to the replacement of its chief executive.

Chief financial officer Ghislain Houle told a transportation conference on Tuesday that volumes are up 14 percent in the first two weeks of May after falling four percent in the first quarter.

Demand is strong for frac sand, lumber, Canadian grain and coal, he said.

- Advertisement -

The Montreal-based railway says its port facility at Prince Rupert, B.C., is expanding faster than expected and should hit capacity two years ahead of schedule.

Houle says the operating performance will see a particular improvement in the fourth quarter after significant investments in the railway network, especially in Western Canada.

CN Rail increased its capital expenditures by $200 million to reach $3.4 billion, is qualifying hundreds of new conductors and buying 200 locomotives over the next three years.

Two days after CN Rail dumped its CEO in March, his interim replacement, Jean-Jacques Ruest, apologized for the railway’s poor performance last winter and promised immediate action to clear the backlog of grain shipments.

(THE CANADIAN PRESS)

get the latest news in your inbox

Author

Advertisement
Advertisement
Advertisement
Advertisement

Local Events

Advertisement
Advertisement
Advertisement

Must Read

Alberta crude oil curtailments remain unchanged despite price recovery

CALGARY, A.B. - Alberta Energy Minister Marg McCuaig-Boyd says the province is leaving its oil curtailment levels at 325,000 barrels per day for now...