Tidewater Names Degodny CCO
Tidewater Transportation and Terminals said it recently added Aaron Degodny as its new Vice-President and Chief Commercial Officer. As part of Tidewater’s executive leadership team, Degodny will focus on establishing strategic partnerships in new markets, expanding and strengthening client relationships, and extending the regional and global footprint of Tidewater, the largest barge transportation and terminal network on the Columbia-Snake River system. He will have direct oversight and responsibility for business development, sales and marketing, public relations and media.
Canadian Grain Exports Flowing Fast
Canadian grain exporters are boosting sales in a slumping global economy, as demand for commodities like oil weakens and frees up railway space.Brisk crop movement in a country that relies heavily on rail is a bright spot during pandemic lockdowns, which have hammered most industries."We've had an almost unlimited supply of rail cars and power. We're shipping off the map," said John Heimbecker, chief executive of grain handler Parrish & Heimbecker.Canada exported a record 959,900 tonnes of wheat in the week ended May 10, although year-to-date volumes from Aug. 1 are behind.
Evergreen, CN Extend Intermodal Pact
Canadian National Railway (CN) and Taiwanese container transportation and shipping company Evergreen Line announced that their long-standing relationship of 27 years will continue with a new agreement extending their intermodal partnership.Evergreen and CN have long enjoyed a mutually beneficial partnership, with Evergreen calling at CN served ports such as Vancouver, Prince Rupert, and Halifax. This new agreement furthers the privileged relationship between both companies.“We are pleased to be renewing our partnership with CN…
Cosco, CN Extend Intermodal Pact
Canadian National Railway (CN) announced that COSCO Shipping has chosen CN to be the exclusive rail provider for the Chinese state-owned shipping company's discharge at the Ports of Vancouver, Prince Rupert, Montreal, and Halifax to all currently served CN destinations.“We are proud that CN’s supply chain logistics and focus on growth has earned the continued trust of COSCO shipping’s business,” said Keith Reardon, senior vice-president of consumer product supply chain at CN.“This is yet another strategic contract signed recently.
PSA International Buys Canada's Halterm
Singapore-based port operator PSA International has completed the acquisition of Halterm Container Terminal in the Port of Halifax, Canada, from Macquarie Infrastructure Partners."PSA International Pte Ltd concluded the purchase of the terminal from Macquarie Infrastructure Partners after formal approval by regulatory authorities, " said a PSA news release issued on Wednesday night.Halterm is the only container terminal in Eastern Canada that can serve mega container vessels.
CN Names David Trent as VP, CDO
Canada's backbone intermodal company Canadian National Railway Company (CN) has announced that David Trent will be joining the company as part of the railway’s objective of modernizing its scheduled railroading model.The new Vice-President (VP) and Chief Digital Officer (DGO) will oversee next steps in CN’s digital transformation, said a press release from CN said.In his role, David will assume the overall responsibility to build a digitally agile organization and provide the best digital thinking and solutions to the business and CN’s customers.
Labor Spat at Vancouver Ends as Deal Reached
Longshore workers at Canada's biggest port, the Port of Vancouver, were locked out on Thursday in a labor dispute over technology changes, temporarily grinding most shipping there to a halt. The lockout ended in a deal on Thursday with their employer after a few hours, the workers' union said.A tentative agreement on a new contract was reached with the BC Maritime Employers Association, the International Longshore and Warehouse Union Canada said in a statement. Jim Thompson, a spokesman for the International Longshore and Warehouse Union Canada…
Hutchison Ports, CN Rail to Build Terminal in Canada
Canadian Québec Port Authority (QPA) has signed a long-term commercial agreement with Hong Kong's Hutchison Ports and Canadian National Railway (CN) to build and operate a new container terminal, known as project Laurentia.The agreement increases Hutchison Ports' global network to 52 ports spanning 27 countries including the United Kingdom, Spain, Poland, Sweden, Germany, the Netherlands, Belgium, Australia, China, Pakistan, Egypt, Argentina, Mexico and Panama, said a press release.Hutchison…
PSA to Acquire Halterm, Penn Terminals
Singapore-headquartered port operator PSA International is all set to take over the Halterm Container Terminal in the Port of Halifax, Canada, and multipurpose Penn Terminals in Pennsylvania, USA.Both Halterm and Penn terminals are 100% owned by Macquarie Infrastructure Partner funds, a fund managed by Macquarie Infrastructure and Real Assets (MIRA). The price was not disclosed.Halterm terminal at the Port of Halifax is the largest container terminal in Eastern Canada. Penn Terminals located in Philadelphia…
Port NOLA Names Mike Stolzman as GM
The New Orleans Public Belt Railroad Corporation (NOPB), a wholly owned subsidiary of the Port of New Orleans (Port NOLA), has named M.D. (Mike) Stolzman as its new General Manager, effective immediately.Stolzman, a veteran railroad executive with extensive short line and Class I rail experience, will report to Brandy D. Christian, President and CEO of Port NOLA and CEO of NOPB, which is a Class III railroad on the nation’s fourth largest rail gateway that connects with six Class…
CN to Invest $345mln in British Columbia
Canadian National Railway (CN) said it plans to invest approximately $345 million across British Columbia in 2019 to expand and strengthen the Company’s rail network throughout the province.“Following a record capital program in 2018, CN has been able to take on more traffic from different commodity sectors based on contracts with our customers. This year, CN is planning to invest even more than last year to continue boosting capacity and network resiliency and to meet growing traffic on our corridors across B.C.,” said Doug Ryhorchuk, Vice-President of CN’s Western Region.The B.C.
CN Invests $245mln in Expansion
Canadian National Railway (CN) said it plans to invest more than $245 million in Saskatchewan in 2019 to expand and strengthen the company’s rail network across the province.“Following a record capital program in 2018, CN brought on 25% more qualified train conductors in Western Canada and added over 10% more active high horse power locomotives to its network. This year, CN is investing $35M more than last year to bring greater capacity to CN’s mainline to benefit all commodities…
CN Buys TransX
Canadian National Railway (CN) has signed a deal to acquire the Winnipeg-based TransX Group of Companies as part of its strategy to expands its North American intermodal supply chain services.TransX, one of Canada’s largest and oldest transportation companies, provides various transportation and logistics services, including intermodal, truckload, less than truckload and specialized services. The 55-year-old company will continue to be based in Winnipeg, Manitoba, and operate independently…
CN Board Appoints Jean-Jacques Ruest President and CEO
The Board of Directors of Canadian National Railway Company (CN) announced the appointment of Jean-Jacques Ruest as President and Chief Executive Officer of CN effective immediately. Ruest has also been appointed to CN’s Board of Directors.“In JJ, we have the best. He brings vision, energy, and speed to the role. JJ brought the team together to tackle the immediate operational and customer service challenges the Company was facing since the fall of 2017,” said Board Chairman Robert Pace.Ruest…
Over 3,000 Canadian Pacific Workers Go On Strike
More than 3,000 employees at Canadian Pacific Railway staged a walk-out late Tuesday night, threatening various industries dependent on cargo shipments by the country's second-largest railroad operator.Talks between Teamsters Canada and Canadian Pacific are ongoing and the labour union is working with federal mediators to reach a negotiated agreement, Teamsters said on Tuesday, adding that commuter train services will not be affected.Industry bodies representing the mining, aluminium…
CP Rail Workers Reject Contract, Resume Negotiations
Canadian Pacific Railway conductors and locomotive engineers on Friday rejected the company's latest contract offer, with their union saying negotiations would resume and raising the prospect of another possible strike at Canada's second-largest railroad. A strike by the estimated 3,000 workers could be called if talks fail or if CP refuses to negotiate - but only after providing 72 hours notice, Teamsters Canada said in a statement. Teamsters Canada Rail Conference President Doug Finnson said by phone that the union expects to resume talks with Calgary-based CP on Friday.
Canadian National Rides High in Intermodal Growth
The Montreal-based Canadian National Railway (CN) reported a higher fourth-quarter profit and raised its dividend, bucking a weak trend among major North American railroads. However, it has given an uncertain but far rosier outlooks for 2016 than most of its North American counterparts after strong international intermodal volume gains helped propel it to a double-digit profit rise. CN said profit rose to $941-million while diluted earnings per share increased by 15 per cent to $1.18. Revenue fell by 1 per cent to $3.2-billion as carloads declined by 8 per cent.
Maritime & Offshore M&A
Workboat and offshore marine markets have been gaining strength over the past three years. A resurgence of oil production in the Gulf of Mexico has brought orders for new vessels, major oil companies are ramping up their presence in the region, and Gulf-oriented state governments are aligning to encourage offshore growth. Merger and Acquisition volumes have generally expanded in the US along with this growth as strategic companies seek to strengthen their positions in niche competencies (Figure 1).
Rail Shipments of Canadian Oil to US Seen Rising over 60%
Canadian crude shipments to the United States by rail could rise more than 60 percent this year on demand by Gulf Coast refiners for the heavy crudes and the wide differential between Canadian grades and the U.S. benchmark. The rail shipments could reach as much as 350,000 barrels per day (bpd) by year end and average some 400,000 bpd in 2019, estimated analysts at Tudor, Pickering, Holt & Co. Last year, the shipments averaged 130,000 bpd, according to U.S. government data. Canadian crudes have been replacing heavy oil from Venezuela and Mexico at the Gulf Coast…
G3 Canada Grain Terminal to Open ahead of Schedule
Canada's biggest grain terminal on a throughput basis plans to open at Port Metro Vancouver in 2019, nearly one year ahead of schedule, the chief executive of grain handler G3 Canada Limited said on Friday. The terminal, capable of handling 8 million tonnes of crops annually on the north shore of Burrard Inlet, will be the first new grain facility in 50 years at the port, Canada's busiest. G3's terminal and its country elevators that buy farmers' crops are designed to include the fastest rail and ship loading times in Canada…
Canadian Pacific Hires Marsh as Sales VP
The appointment of Tim Marsh as senior vice president sales and marketing by Canadian Pacific Railway Ltd is aimed at bolstering its battered intermodal business, says a report from Globe and Mail. Marsh, who brings 25 years of international shipping industry sales and marketing experience, most recently served as executive VP North America Trade Division for Cosco Container Lines (COCSO), the global shipping giant. CP has lost some big intermodal customers to Canadian National Railway Co.…
Canadian National Railway to Acquire 350 Boxcars
Canadian National Railway Company (CN) announced it will acquire 350 premium boxcars to serve growing demand from industrial customers across its North American network. “These additional boxcars, combined with our new locomotives, hundreds of new train crew members, and track expansion investments, will help give us the capacity and network resiliency we need for pulp, paper and metals customers,” said Doug MacDonald, vice president of bulk at CN. The leased 50-foot, high-capacity plate F boxcars…