Canadian Pacific Railway News

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. It operates three container berths covering more than a kilometer of quay length with depth of up to 16 meters.The terminal is currently undergoing further berth expansion…

PSA International through its subsidiary has acquired 60 per cent of Ashcroft Terminal (AT) , an inland port facility about 300km east of the Port of Vancouver in western Canada, making its first foray into Canada.AT is an inland port facility located approximately 300 kilometres east of the Port of Vancouver (POV).Comprising 320 acres of free-hold industrial land, it is the only major privately-owned industrial property in Canada where both Class 1 railroad lines – including Canadian National (CN) Railway and Canadian Pacific Railway – run through, transporting import and export cargoes to and from the POV, across Canada and as far as Chicago and other North American markets.

UPS, one of North America’s largest intermodal shippers, has told federal regulators that it is against Canadian Pacific Railway's (CP's) proposed acquisition of Norfolk Southern Corp. (NS). UPS' thumbs-down has dealt a severe blow to CP's $28 billion bid to acquire U.S. eastern railroad NS. UPS Inc. is the largest transport company in the U.S. and one of the nation's biggest users of intermodal services. UPS has asked the Surface Transportation Board (STB) to reject the proposal on grounds that it will lead to diminished service levels and higher costs. UPS also warned that the acquisition would result in a spree of rail-industry consolidation that would impair intermodal service reliability even more.

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., and appears to be taking a big step toward winning new contracts in the business of handling containers that travel by ship, rail and truck. Marsh will lead a sales team that has recently lost the intermodal business of APL Ltd., Mitsui O.S.K. Lines, and Orient Overseas Container Line Ltd.

Canadian grain marketer CWB said on Thursday it will build a third grain elevator on the western Prairies, as the former Wheat Board pieces together a crop-handling network. Winnipeg-based CWB will build an elevator that can store 42,000 tonnes of grain near Pasqua, Saskatchewan. It expects the elevator, adjacent to a Canadian Pacific Railway Ltd line with the ability to load 134 rail cars, to open in January 2016. The elevator is the latest project to expand Western Canada's grain-handling capacity, including country elevators and port terminals, as Canadian farmers increase production. Richardson International Ltd, Cargill Ltd and Viterra have also announced building projects. Viterra said last week that it would build a grain terminal at Ste.

As many as 44 trains loaded with volatile Bakken crude oil are being sent through the state of New York each week, according to confidential disclosures made by railroads to state emergency responders, and released to Reuters through a Freedom of Information Law request. The disclosures come as New York and other states grapple with health and safety risks posed by a recent surge in oil-by-rail cargoes, following at least six fiery derailments of trains carrying Bakken oil in North America since last July. The New York State Emergency Response Commission released disclosures from railroads CSX Corp and Canadian Pacific Railway Ltd on Tuesday.

Canada needs to invest in shipping more grains and oilseeds off the West Coast as harvests get larger, to avoid the massive transportation backlogs that followed last year's record crops, industry officials said on Wednesday. Last year, 19.3 million metric tons of grain moved in bulk and containers combined through Port Metro Vancouver, British Columbia, the country's biggest port, which connects Canadian commodities with Asian buyers, according to the port. But handling Canadian…

The U.S. Coast Guard on Tuesday closed the Mississippi River at Sabula, Iowa, after a barge struck a railroad bridge, said Eric Washburn, bridge administrator for the agency's Eighth District Western Rivers Bridge Branch. The river was closed 1 mile (1.6 km) north and 1 mile south of the site of the accident as of about 3 p.m. CDT (2000 GMT), Washburn said. The barge was stuck in an open position. The contents of the barge were unknown as investigators traveled to the site, he said. "The investigators will have to inspect the bridge and make a determination if it needs repairs," added Tim Marriott, enforcement chief for the Coast Guard's upper Mississippi River sector. The rail bridge was owned by Canadian Pacific Railway Ltd , said company spokesman Ed Greenberg.

Genesis Energy, L.P. announce plans to invest approximately US$150-million to construct a new crude oil, intermediates and refined products import / export terminal in Baton Rouge, Louisiana (the Baton Rouge Terminal). The Baton Rouge Terminal will be located on approximately 90 acres of land near the Port of Greater Baton Rouge (the Port) and will be connected to the Port’s existing deepwater docks on the Mississippi River. The docks are capable of berthing vessels ranging from barges to Aframax class vessels.

The American Association of Port Authorities’ (AAPA) 2013 Maritime Economic Development Workshop in Chicago, June 27-28, will explore the factors driving today’s investments in seaport and related infrastructure. The program's speakers will analyze the risks and rewards for undertaking such investments, reveal how capital improvements propel business development decisions and discuss what influences intermodal connection improvements with ports. Addressing the issue of what is…

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.

Standard & Poor's placed its triple-'B'-corporate credit rating on CP Ships Holdings Inc. and its triple-'B'-minus corporate credit and senior unsecured debt ratings on Legacy Hotels Real Estate Investment Trust on CreditWatch with negative implications. The CreditWatch placements follows Canadian Pacific Ltd.'s announcement that it intends to split into five separate companies (see related press release). Under the proposal, PanCanadian Petroleum, Canadian Pacific Railway, CP Ships, and Fording would become publicly traded companies, each separately owned, operated, and capitalized. Canadian Pacific would then be left with its sole remaining holding of a 100% interest in CP Hotels, constituting the fifth separate company.