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On Friday, Canadian Pacific announced it signed a collaborative agreement with the Montreal Port Authority that focuses on improving container traffic performance, productivity and efficiency.

The pact — the fifth collaboration agreement CP has reached with intermodal industry stakeholders in the past 12 months — formalizes the railroad's and port's ongoing supply chain collaboration, according to the Class I.

CP moves merchandise from Canada's industrial heartland and the Port of Montreal to U.S. markets. The agreement will help create the “most efficient and reliable routing for freight traffic moving between Europe and the American Midwest,” said CP Executive Vice President and Chief Marketing Officer Jane O'Hagan in a prepared statement.

"This collaboration agreement continues to strengthen our long partnership with the Port of Montreal, setting the stage for a cross-supply chain collaboration that improves performance and service of the Continental Gateway," she said.