Canadian Pacific sets grain record in Q4

Canadian Pacific moved more grain and grain products in fourth-quarter 2019 than in any quarter in its history, the Class I announced yesterday.

CP shipped 7.9 million metric tons (MMT) during the quarter, breaking the previous record set in fourth-quarter 2018 by 400,000 metric tons, CP officials said in a press release.

As of Dec. 31, CP's movement of grain for the 2019-2020 crop year reached 12.17 MMT, up 2.1 percent over the previous crop year. The Class I’s volume in the 2019 calendar year, which includes portions of two separate crop years, climbed to a record 27 MMT.

The banner year for CP and the Canadian grain supply chain occurred despite challenging economic and environmental conditions, said Joan Hardy, vice president of sales and marketing, grain and fertilizers.

"These month-after-month records are a testament to the hard work from everyone involved: from field to rail to port, all stakeholders have collaborated closely to ensure we are delivering for farmers and the Canadian economy," Hardy said.

CP now has added more than 2,170 new high-capacity hopper cars to its fleet and plans to employ 3,300 such cars by 2020's end. The cars are part of CP's plan to spend CA$500 million on acquiring 5,900 new hopper cars over four years, as announced in June 2018.

"We recognize that there is crop left to harvest in spring due to the wet conditions this past fall, and the entire supply chain will need to work together to maximize its efficiency and move the balance of the crop," said Hardy. "With the investments made in facilities and in the supply chain by CP and shippers, I'm confident that the Canadian grain industry will continue to deliver strongly and efficiently."

To learn more about CP's banner crop year, read this cover story in Progressive Railroading's November 2019 issue.