We see falling demand for oil, lumber, and wheat out of Canada in the future due to a combination of market forces. Canadian Pacific Railroad appears to be especially exposed to this freight recession.
The class 1 railroad owned by Berkshire Hathaway had the worst OR of any of the class 1 railroads for the second quarter.
XPO Logistics’ CFO Hardig resigns; Shanghai – Los Angeles container rates spike; watch heavy haulers move SpaceX rockets; Canadian National publishes its first annual ‘Grain Plan’; meet the teen who rides in a self-driving Waymo vehicle every morning.
CN had a strong quarter as it comes out of system problems that stretch back into 2017.
An analyst says the company management is willing to accept “short term pain.”
Used truck prices strengthen; trailer orders go crazy; Arizona suspends Uber self-driving; Canadian National trades at 52-week lows; aftermath of Harvey still affects Houston tanker traffic; Philadelphia freight market is heating up.
After a few disastrous months and a CEO ouster, the interim chief lays out the plan.
