Canadian Pacific sets record quarter for Canadian grain movements

CALGARY, Jan. 6, 2020 /PRNewswire/ - Canadian Pacific (TSX: CP) (NYSE: CP) moved more Canadian grain and grain products in 2019's final quarter than any prior quarter in the company's history. Shipping totals came in at 7.9 million metric tonnes (MMT) of Canadian grain and grain products, breaking the company's prior quarterly record from the 2018 fourth quarter by 400,000 metric tonnes:

October: 2.66 MMT (second-best month on record)

November: 2.74 MMT (an all-time monthly record)

December: 2.50 MMT (the best-ever December)

As of Dec. 31, 2019, CP's movement of grain for the 2019-2020 crop year was 12.17 MMT, up 2.1 percent over last year. The 2019 calendar year, which includes portions of two separate crop years, was a record at 27 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's 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 now 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. These cars are part of CP's plan to spend approximately $500 million on acquiring 5,900 new hopper cars over four years, as announced in June 2018. The high-efficiency hopper cars are contributing to the capacity that CP is offering for the movement of grain. Shippers are loading more than one tonne of extra grain per car compared to the same period last year.A 
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