CP Ships Secure Long-Term Agreement

Friday, November 16, 2001
Canadian Pacific Railway and CP Ships have reached a long-term agreement that will see CPR continue as the shipping company's exclusive Montreal Gateway rail carrier well into the future. The two companies have extended their existing agreement, originally due to run until 2004, for another 10 years to 2014. The new agreement secures CPR's position as the leading rail service provider in the Port of Montreal, handling the majority of the port's containerized rail traffic.

CPR and CP Ships had agreed in principle to the terms of the agreement before their recent spin-off from Canadian Pacific Limited."This long-term partnership preserves CPR's strong and secure position in one of North America's busiest container ports," said Rob Ritchie, CPR's President and CEO. "Because of the success of our past association with CP Ships, we were able to reach an agreement that will support the continued growth and success of both companies. This long-term contract provides the stability we need for continued investment in infrastructure and capacity." "By guaranteeing the continuation of this strong and historic business relationship, CP Ships will be able to further develop its already-extensive Montreal Gateway intermodal network and secure its position as the North Atlantic market's leading carrier," commented Ray Miles, CEO of CP Ships.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

Cenac Marine to Christen New Vessel, Donate Barge

A ceremony will be held July 29 at Cenac Marine Services headquarters in, Houma, La. To commemorate the christening of its newest vessel, M/V Quincey Cenac, as

Concordia Maritime Posts Q2 Profit

Facing a “gradually deteriorating market,” Sweden based tanker shipping company Concordia Maritime said it was able to post a profit in Q2 2016 based on high vessel

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0904 sec (11 req/sec)