Traffic on the big six Class I railroads was a mixed bag in the third quarter, as three systems saw gains versus a year ago and three experienced volume declines. For the third quarter, which ended Sept. 30, total volume on the big six systems was up an average of 0.5%, according to a Trains […]
CALGARY, Alberta – Canadian Pacific has shared an image of its forthcoming hydrogen-powered locomotive. It shows an EMD cowl-style locomotive in a green, blue, white, and gray paint scheme. According to the railroad’s sustainability website, the locomotive, known as “H2 0EL” for Hydrogen – Zero Emissions Locomotive, will be prepped for its official painting and […]
WASHINGTON — The Surface Transportation Board has reaffirmed its previous approval of a voting trust for the proposed merger of Canadian Pacific and Kansas City Southern, saying the approval granted for CP’s original bid for KCS applies to the amended notice of the companies’ intent to merge. In May, the STB approved the planned use […]
CALGARY, Alberta – Canadian Pacific has unveiled a locomotive that commemorates Canada’s first National Day for Truth and Reconciliation, which will be observed on Sept. 30. CP ES44AC No. 8757 has been painted in an orange livery that bears the motto “Every Child Matters.” The holiday honors the lost children and survivors of Indian Residential […]
Canadian Pacific CEO Keith Creel — who last week won a hard-fought, four month merger battle to acquire Kansas City Southern — is fully aware that the first Class I railroad combination in two decades is history in the making. “We’ve got some history that we’re very proud of with Canadian Pacific. We drove the […]
KANSAS CITY, Mo. — Canadian Pacific CEO Keith Creel and Kansas City Southern CEO Pat Ottensmeyer expressed excitement today about finally being able to combine their two railways into the first system to connect Canada, the U.S., and Mexico. Their merger deal, officially announced on Wednesday after Canadian National dropped its pursuit of KCS, came […]
Now that the months-long battle for Kansas City Southern is over and Canadian Pacific has been won, let’s get down to the important part for those of us who cover railroading for a living and those of us who have reverence for great railroad titles: the name of the new company that will carry on […]
KANSAS CITY, Mo. — The four-month battle for Kansas City Southern is officially over. KCS and Canadian National ripped up their $33.6 billion merger agreement today, 15 days after the Surface Transportation Board denied CN’s request to place KCS into an independent voting trust. Canadian Pacific and KCS, with voting trust approval already in […]
KANSAS CITY, Mo. — Kansas City Southern on Sunday accepted Canadian Pacific’s $300 per share merger offer, spurning Canadian National’s higher bid due to its regulatory obstacles. In a midday press release, KCS said its board had determined CP’s revised offer constituted a “Company Superior Proposal” as defined in the agreement with CN. CP extended the […]
VANCOUVER, British Columbia — Canadian Pacific and container-ship operator Maersk have opened their new Vancouver transload facility, adjacent to the railroad’s Vancouver Intermodal Facility. Construction was completed in August, with operations beginning Sept. 1 and first containers arriving earlier this week. The facility will allow cargo to be moved between international containers and domestic 53-foot […]
CHICAGO — CSX Transportation is willing to part with its stake in Pan Am Southern if that would alleviate competitive concerns surrounding its proposed acquisition of New England regional Pan Am Railways. “It was our position from day one, if they wanted us to step out of the Pan Am Southern, we were glad to […]
CHICAGO — Surface Transportation Board Chairman Martin J. Oberman stepped up his criticism of Class I railroads on Wednesday, saying the industry’s drive for ever-increasing profits resulted in a loss of market share to trucks over the past 15 years and is restraining growth today. Rail rates fell by 27% between 1985 and 2004, as […]
