CALGARY, Nov. 7, 2016 /CNW/ - Canadian Pacific (TSX: CP)
(NYSE: CP) announced that, despite a weather-delayed harvest,
October was its best-ever month for Western Canadian grain movement
to Vancouver and stands ready to
work with its supply chain partners through the 2016/17 season to
transport a bumper crop to world markets.
A record 15,865 carloads were moved to West Coast ports in October,
besting the previous record of 15,449 carloads in March 2016. Total Western Canadian grain
movements in the month climbed 3.9 percent over last year, just off
the record set in May 2014.
Millions of dollars in investment over the past three years by
CP as well as new investment by its supply chain partners on grain
country elevator capacity and port capacity has already begun to
fulfill the promise of greater efficiency, fluidity and velocity.
You can find details of the supply chain's weekly performance at
www.cpr.ca/grain.
"I am proud of the CP team and applaud the efforts and early
success of our supply chain partners as the crop season begins to
accelerate into the colder months," said CP President and Chief
Operating Officer Keith Creel. "We
continue to focus on providing best-in-class service to our
customers and look forward to moving more Western Canadian grain to
market for the benefit of farmers, shippers and the Canadian
economy."
CP reiterates that with the winter months and the majority of
the 2016/17 crop movement still ahead, finger-pointing and
unwarranted criticism of any single component of this complex chain
is counter-productive and undermines Canada's reputation as a world-class supplier
of grain.
Misleading and inaccurate data published by the Ag Transport
Coalition, then cited repeatedly in the media by paid industry
lobbyist Wade Sobkowich, of the
Western Grain Elevators Association, continues to promote the
notion that an adversarial relationship exists between the
railroads and Canada's farm
community. The truth is we are partners in driving the Western
Canadian economy forward.
More than three-quarters of CP's Western Canadian grain business
uses the Dedicated Train Program (DTP), which allows customers to
control their own train assets for a period of 12 months or more.
In other words, DTP customers use the capacity they need when they
need it.
Trying to compare DTP performance to an "order fulfillment"
model, as the Ag Transport Coalition does, simply does not
work.
"The evidence is clear: CP and its supply chain partners are not
only working hard to get this bumper crop to market but
succeeding," Creel said. "Together, we are also succeeding in
putting old conflicts between railroads and the farmer into the
past where they belong."
About Canadian Pacific
Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway
in Canada and the United States with direct links to eight
major ports, including Vancouver
and Montreal, providing North
American customers a competitive rail service with access to key
markets in every corner of the globe. CP is growing with its
customers, offering a suite of freight transportation services,
logistics solutions and supply chain expertise.
Visit cpr.ca to see the rail advantages of CP.
SOURCE Canadian Pacific