Canadian Pacific Railway (CP) has announced that the company plans to invest more than a half-billion dollars on new high-capacity grain hopper cars, which will enable CP to ship more grain in each dedicated train.
"For more than 100 years, grain has been embedded in CP's DNA," said Keith Creel, CP president and CEO. "We know farmers depend on us to transport their product efficiently, safely and reliably to market. It's the largest sector of CP's business by revenue, and we're committed to continuous improvement for the benefit of our customers and the North American economy.”
“These new railcars will revitalize our fleet and help cement our status as an industry leader in grain transportation for decades to come," added Creel.
The new hopper cars are shorter, lighter and feature a three-pocket design that can be loaded and unloaded more efficiently than the old four-pocket government cars. They also can handle more than 15 percent greater volume and 10 percent greater load weight than the cars being retired. Grain shippers in North America can expect to see more than 500 of the new cars in service before the end of 2018.
CP began with an initial order for 1,000 cars from National Steel Car of Hamilton, Ontario, and expects to order approximately 5,900 hopper cars in total.