CP Reports Record Grain Movements

Canadian Pacific Railway Limited (CP) has reported it moved more Canadian grain and grain products during the 2019 final quarter than any prior quarter in its history. The company moved a total of 7.9 million metric tons (MMT) of grain and grain products, breaking the company's prior quarterly record of 400,000 metric tons in the 2018 fourth quarter.

As of December 31, 2019, CP's grain movement for the 2019-2020 crop year was 12.17 MMT, an increase of 2.1 percent over last year. The 2019 calendar year, which includes portions of two separate crop years, was a record at 27 MMT.

In 2019, CP also recorded the second-best month on record in October with 2.66 MMT; an all-time monthly record for November with 2.74 MMT; and the best-ever December with 2.50 MMT.

"2019 has been a banner year for CP and the Canadian grain supply chain despite the challenging economic and environmental conditions," said Joan Hardy, CP vice president 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."

CP has more than 2,170 new high-capacity hopper cars in its fleet and plans to have 3,300 cars by the end of 2020. The company’s 8,500-foot High Efficiency Product (HEP) train model is also a factor in CP's record-breaking quarter.

"The CP team has worked hard to support our customers' supply chains through this challenging fall," continued Hardy. "Late harvest, rainy periods in Vancouver and other disruptions threatened to slow the movement, but tight planning with customers enabled us to keep the grain moving. 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.”

“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," concluded Hardy.