• DATVF.VSU
    1.369
    0.089
    7%
  • DATVF.DALLAX
    1.049
    0.080
    8.3%
  • DATVF.VWU
    1.715
    -0.019
    -1.1%
  • DATVF.SEALAX
    1.306
    -0.001
    -0.1%
  • DATVF.ATLPHL
    1.773
    0.050
    2.9%
  • DATVF.LAXDAL
    1.690
    0.099
    6.2%
  • DATVF.VNU
    1.570
    0.043
    2.8%
  • DATVF.PHLCHI
    0.996
    0.029
    3%
  • DATVF.VEU
    1.625
    0.059
    3.8%
  • DATVF.LAXSEA
    2.124
    -0.038
    -1.8%
  • DATVF.CHIATL
    2.107
    0.099
    4.9%
  • ITVI.USA
    10,297.120
    -58.780
    -0.6%
  • OTRI.USA
    8.320
    0.070
    0.8%
  • OTVI.USA
    10,315.280
    -58.610
    -0.6%
  • TLT.USA
    2.610
    0.010
    0.4%
  • WAIT.USA
    158.000
    8.000
    5.3%
  • DATVF.VSU
    1.369
    0.089
    7%
  • DATVF.DALLAX
    1.049
    0.080
    8.3%
  • DATVF.VWU
    1.715
    -0.019
    -1.1%
  • DATVF.SEALAX
    1.306
    -0.001
    -0.1%
  • DATVF.ATLPHL
    1.773
    0.050
    2.9%
  • DATVF.LAXDAL
    1.690
    0.099
    6.2%
  • DATVF.VNU
    1.570
    0.043
    2.8%
  • DATVF.PHLCHI
    0.996
    0.029
    3%
  • DATVF.VEU
    1.625
    0.059
    3.8%
  • DATVF.LAXSEA
    2.124
    -0.038
    -1.8%
  • DATVF.CHIATL
    2.107
    0.099
    4.9%
  • ITVI.USA
    10,297.120
    -58.780
    -0.6%
  • OTRI.USA
    8.320
    0.070
    0.8%
  • OTVI.USA
    10,315.280
    -58.610
    -0.6%
  • TLT.USA
    2.610
    0.010
    0.4%
  • WAIT.USA
    158.000
    8.000
    5.3%
IntermodalNewsRail

Canadian Pacific acquiring Central Maine & Quebec

Canadian Pacific (NYSE: CP) will be acquiring short line Central Maine & Quebec Railway (CMQ) in a deal that CP hopes will boost its footprint in the Eastern U.S. and establish a coast-to-coast network in Canada, the railway said on Nov. 20.

CMQ has 481 miles of rail lines in Quebec and Maine, and it has access to the ports at Searsport, Maine, and Saint John, New Brunswick, via the short lines Eastern Main Railway and New Brunswick Southern Railway.

“With additional port access, more dots on the map and our proven precision scheduled railroading operating model, we are confident this transaction will bring benefits to all stakeholders moving forward,” said CP CEO Keith Creel. 

Financial terms weren’t disclosed, but CP expects the purchase of CMQ from Fortress Transportation and Infrastructure Investors (FTAI), its present owner, to close by the end of 2019. As part of the deal, FTAI will keep its ownership of Katahdin Railcar Services, a tank car cleaning and repair facility in Derby, Maine. FTAI will also continue to operate a 12-mile branch line at the Long Ridge Energy Terminal in Monroe County, Ohio.

“We are excited about this transaction as it brings value to our shareholders, while ensuring that the CMQ continues to provide safe and reliable rail transportation options,” said FTAI CEO Joe Adams.

CMQ owns the track that was involved in the July 2013 fatal accident a Lac Mégantic, Quebec. Transport Canada has also cited the line as having numerous defects, but the short line has told the agency that those defects have been addressed, according to CBC.ca

CP deploys asset monitoring technology for its chassis

In an unrelated announcement on Nov. 20, BlackBerry said CP will be deploying BlackBerry Radar across 2,000 of its domestic intermodal chassis at the Vaughan Intermodal Terminal in greater Toronto. 

BlackBerry described the technology as a device that enables asset monitoring by providing real-time information and analytics on location, motion, mileage, utilization and dwell and turn times, among other factors. The data is stored on a cloud platform and can be accessed through an online dashboard.

“CP is constantly looking to evolve, innovate and elevate the experience for our customers,” said Jonathan Wahba, CP’s vice president of sales and marketing for intermodal and automotive. “We’re excited about this collaboration with BlackBerry Radar and the potential benefits this technology will allow us to drive within our network.”

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Joanna Marsh

Joanna is a Washington, DC-based writer covering the freight railroad industry. She has worked for Argus Media as a contributing reporter for Argus Rail Business and as a market reporter for Argus Coal Daily.

3 Comments

  1. Speaking about Quebec and Rail :

    Quote:

    “Quebec has less than 5 days propane left due to CN strike, premier says”

    “Quebec has already started to ration propane, narrowing it to less than half the typical six million litres per day, Legault said. The province has about 12 million litres in reserve.
    “We started to make choices,” he said Thursday. “That means we have enough for four days, four-and-a-half days.”

    Canadian Propane Association CEO Nathalie St-Pierre says that six-hour truck lines for propane have already formed in Sarnia, Ont.
    “It’s having a huge impact. We’re very concerned, because propane infrastructure relies heavily on rail,” St-Pierre told The Canadian Press.
    “There’s no pipeline that brings propane to Quebec.”

    About 85 per cent of the province’s propane comes via rail, the bulk of it from Sarnia and some from Edmonton — the country’s two propane trading hubs.”

    I only quoted parts of the article . You may want to read the whole article titled :

    Quebec has less than 5 days propane left due to CN strike, premier says”

  2. April 2019
    quote:

    “Quebec doesn’t want another pipeline, François Legault tells Jason Kenney”

    “In his victory speech, Jason Kenney appealed to Quebec for help in getting more oil to market.”

    “There’s no social acceptability for an additional oil pipeline,” Legault told reporters, though he added his government does support a pipeline that would transport natural gas from Alberta to Quebec.”

    “Legault has previously criticized Alberta’s oil industry for producing “dirty” energy. ”

    End quote .

    November 13 2019
    Quote :

    “Kenney fires back after Bloc leader shows little sympathy toward calls for more Western independence”

    “Blanchet, who has highlighted the fight against climate change as a top priority for the Bloc Québécois, was reluctant to draw any parallels between Quebec sovereignty and the growing calls from western Canada for greater autonomy. “If they were attempting to create a green state in western Canada, I might be tempted to help them,” he said. “If they are trying to create an oil state in western Canada, they cannot expect any help from us.”

    End quote .

    Apparently Quebec doesn’t want an oil “pipeline” , will not support Alberta , Calls them a dirty energy producer , but now cries about a shortage in propane that comes from the West ???

    Doesn’t Legault and his cohorts realize that they depend on the West and that natural gas wells, natural gas , methane , and LNG all contribute to climate changes ? Propane is produced as a by-product of two other processes, natural gas processing and petroleum refining.

    Quote:
    “In December 2015, the Line 9B Reversal and Line 9 Capacity Expansion Project became operational, enabling Quebec refiners to access western Canadian crude oil by pipeline.”

    Guess where Quebec gets its oil
    Quote:
    “The Line 9 pipeline has become a critical link for oilsands giant Suncor, which owns the Montreal Refinery near the pipeline’s eastern terminal on the Island of Montreal. Line 9 connects with the Enbridge Mainline system that brings crude oil east from Alberta, Saskatchewan, Manitoba and North Dakota to Sarnia in southern Ontario.”

    Re-quote from first comment :

    “There’s no pipeline that brings propane to Quebec.”
    About 85 per cent of the province’s propane comes via rail, the bulk of it from Sarnia and some from Edmonton — the country’s two propane trading hubs”

    Quote:

    “The resource B.C. is piping to Alberta that nobody is talking about

    “The hidden subsidy

    And it also includes disturbing evidence of massive amounts of methane leaking into the atmosphere at numerous gas well sites and wreaking climatic havoc. Given this, it is entirely conceivable that if the day ever came when a major liquefied natural gas (LNG) facility — or more accurately, a liquefied fracked gas plant — was built in B.C., the greenhouse gas emissions associated with that gas would put it on par with coal.”

    Here’s another quote from :

    “3 Big Myths about Natural Gas and Our Climate
    July 2018

    Natural gas will not solve the climate crisis.
    When people make this argument, they’re (mostly) referring to one thing in particular that is indeed true of natural gas: a new, efficient natural gas power plant emits around 50 percent less carbon dioxide (CO2) during combustion when compared with a typical coal-based power plant, according to the National Energy Technology Laboratory (NETL).

    To be sure, we should take seriously any source of energy that reduces our dependence on coal and oil, the primary sources of the carbon emissions that drive climate change. But let’s also engage in some real talk: 50 percent less CO2 also isn’t zero CO2, and CO2 isn’t the only harmful emission generated by natural gas development.

    We’re still talking about a fossil fuel here, one that still contributes to climate change when burned. And achieving net-zero greenhouse gas emissions by the second half of this century is essential to the long-term health of our planet.
    That number also doesn’t take into account all of the carbon emissions that happen across the full life cycle of natural gas, particularly during extraction, infrastructure construction, transport, and storage. But rather than dwell, let’s just get straight to the real climate Big Bad when it comes to natural gas – methane.

    Methane is a very, very powerful greenhouse gas. In the atmosphere, compared to carbon, it’s fairly short-lived: only about 20 percent of the methane emitted today will still be in the atmosphere after 20 years. However, when it first enters the atmosphere, it’s around 120 times more powerful than CO2 at trapping heat and 86 times stronger over a 20 year period.
    (Carbon dioxide hangs around for much longer: As much as 15 percent of today’s carbon dioxide will still be in the atmosphere in 10,000 years.)

    And a lot of the methane that ends up in the atmosphere comes from natural gas production.

    Natural gas is not environmentally friendly.
    We need to be very clear here: Natural gas is not a clean form of energy. Cleaner than coal? Sure – but that’s not saying a heck of a lot.’

    End quote .

    And I haven’t mentioned the enormous amounts of earthquakes BC is encountering due to fracking .

    In conclusion , Legault and his cohorts are clowns .

    Since Hydro Quebec is a world renowned expertise and has some of the industry’s most advanced technological innovations , I’m surprised that they haven’t advanced much in hydrogen production .

    Speaking of which , here is a translated quoted part from an article written in one of their French newspapers October 21 2019

    “Hydro-Québec wants to start producing hydrogen
    The Crown corporation is giving itself 5 to 10 years to develop this energy sector

    Hydro-Québec believes that hydrogen has great potential. The Crown corporation now has the firm intention to develop this sector in Quebec and to start production, Le Journal said.

    “We can become clean hydrogen producers with the electricity we have,” Hydro-Québec CEO Éric Martel said in an interview with Le Journal.

    Hydro-Québec’s new strategic plan, which will be unveiled next December, will clearly make room for the hydrogen sector. Which was not the case in the past.

    “We could go as far as selling hydrogen molecules instead of selling electrons”, suggested the big boss of the state-owned company giving himself a horizon of 5 to 10 years to develop this sector in Quebec soil .
    Hydro-Québec believes that by stimulating investments and research in the hydrogen sector, it could succeed in attracting big global players in this industry to Quebec.

    “We think we can attract plants from the green chemistry industry and we want to see what will be the presence of hydrogen for heavy vehicles,” said Martel adding that it was necessary to “put our foot in the door “in order to” be ready to be able to offer a competitive price “.

  3. It’s delightfully ironic that roughly 30 years after CP Rail sold most of this track, it’s now buying it back, although it still won’t own the actual tracks into Saint John, long the company’s eastern terminus.

    Still, CP isn’t alone in reversing corporate decisions. Several years after CN Rail sold its lines in northern New Brunswick and Quebec to a shortline operator, it bought them back. And I believe that a few years after CN ripped up several double track segments in western Canada, it’s now in the process of putting the rails back down!

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