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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (71744)	12/5/2019 8:04:51 AM
From: Goose94	Read Replies (1) \| Respond to of 202704

Canadian National Railway (CNR-T) I heard CP Rail try underpin CNR Vale INCO shipments traffic. Canadian National Railway says it will begin hauling steelmaking coal for Teck Resources to West Coast ports from Kamloops, B.C., in April, 2021, usurping a contract held by rival Canadian Pacific Railway (CP-T). The Teck contract to haul coal to Vancouver and Prince Rupert is worth $160-million to $250-million in yearly revenue to CNR, up from the $25-million Teck currently spends on CNR's services. The deal requires CNR to spend $125-million in railway improvements to ensure Teck can export higher volumes of coal and take advantage of the expansion at Neptune Terminals' coal port on Vancouver's north shore. This amount will be shared with the port authorities and the federal government. Teck chief executive officer Don Lindsay says, "We expect this will lower our total transportation costs and improve overall rail and terminal performance." CP said the loss of the Teck contract will reduce its profit by 1 per cent. CP owns the tracks to Kamloops from the four Teck coal mines in B.C., and so it will retain that shipping contract, which accounts for 66 per cent of the distance on routes to the West Coast.