English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

CN increases net income to C$3.5 billion

TORONTO: January 26, 2016. The Canadian National railway (CN) has reported fourth quarter net income of C$941 million on revenue of C$3.16 billion, down one percent on the same period in 2014.

The company also reported its results for 2015 with a 12 percent increase in net income to C$3.5 billion on a four percent increase in revenue of C$12.6 billion.

Free cash flow rose to a record C$2.4 billion from C$2.2 billion the previous year.

CN 1President and CEO Claude Mongeau said: "CN generated strong fourth-quarter and full-year 2015 results despite the weak volume environment. Our solid performance is testament to the strength of CN's franchise and diversified portfolio of businesses.”

Commenting on the outlook for 2016 he added: "Although the economic environment remains challenging, CN will continue to invest in the safety and efficiency of its network, with a 2016 capital investment program of approximately C$2.9 billion, including the negative impact of foreign exchange and increased spending for Positive Train Control technology.”

CN said it increased revenues last year from the automotive sector (16 percent), forest products (13 percent), intermodal (five percent), grain and fertilizers (four percent), and petroleum and chemicals (four percent). Revenues from coal shipments fell 17 percent and metals and minerals three percent during the period.

The rail company said it attributed the increases to the Can$/US$ exchange rate, rising freight rates, “solid” overseas intermodal demand, higher volumes of finished vehicle traffic, and increased shipments of lumber and panels to U.S. markets.

The revenue growth was partially offset by a lower applicable fuel surcharge rate; and decreased shipments of energy-related commodities including crude oil, fracking and drilling pipe, lower volumes of semi-finished steel products and short-haul iron ore, reduced shipments of coal due to weaker North American and global demand, as well as lower U.S. grain exports via the Gulf of Mexico.

Earlier this week CN applied to the Canadian Transportation Agency (CTA) to approve a C$250 million logistics hub to be built in Milton, Ontario. CN said with its intermodal traffic growing solidly since 2005, the terminal would create more inland freight capacity to better connect domestic and global supply chains linking the West and East coasts in Canada.

More News

Written on 18/01/2018, 21:36
jd-com-signs-deals-with-vietnam-and-franceBEIJING: January 15, 2018. JD.com, China's largest retailer, is to become a major shareholder in Vietnam's B2C e-commerce platform Tiki.com following the...
Written on 18/01/2018, 17:43
record-port-volume-for-south-carolinaCHARLESTON, SC: January 17, 2017. The South Carolina Ports Authority (SCPA) handled a record 2.2 million TEU in 2017, resulting in a nine percent growth...
Written on 17/01/2018, 23:18
fedex-trade-networks-to-include-ecommerce-and-specialty-logisticsMEMPHIS, January 16, 2018. FedEx Corporation is combining its specialty logistics and e-commerce solutions in a new organization under its FedEx Trade...
Written on 17/01/2018, 22:25
singapore-and-kuehne-nagel-to-invest-in-advanced-logistics-technologySINGAPORE/SCHINDELLEGI, Switzerland: January 15, 2018. Singapore sovereign investor Temasek has signed an MoU with Kuehne + Nagel to invest in early stage...
Written on 16/01/2018, 22:59
freightweek-news-update-week-03-2018LANGHORNE, PA: January 19, 2018. va-Q-tec, a provider of thermal packaging solutions for temperature controlled transportation, has opened a North...
Written on 13/01/2018, 15:10
freightweek-news-update-week-02-2018HOLZWICKEDE: Germany: January 12, 2018. The Rhenus Group has acquired Brazilian import broker Pirâmide SeaAir Comércio Exterior with offices in São...
Written on 10/01/2018, 23:01
fedex-opens-new-shanghai-hubHONG KONG, January 8, 2018. Federal Express has officially opened its 134,000 sq.mt. cargo hub at Shanghai Pudong International Airport to support 66...
Written on 10/01/2018, 22:55
dp-world-to-continue-us-1-billion-annual-investmentsDUBAI: January 08, 2018. DP World invested US$1 billion in global trade services, supply chain diversification and smart technology last year. The...
Written on 09/01/2018, 23:18
turkish-airlines-adds-to-b777-freighter-fleetSEATTLE: January 08, 2017. Turkish Airlines has ordered three more B777 freighters with a list price of approximately US$300 million each. The new order...
Written on 09/01/2018, 22:41
brussels-reports-best-traffic-in-a-decadeBRUSSELS: January 08, 2018. Brussels Airport finished 2017 with an 8.3 percent increase in air cargo traffic compared to 2016 with a total of 535,634 tons...
Written on 05/01/2018, 18:46
dunkerque-added-to-central-america-reefer-serviceCURACAO: January 04, 2018. Specialist reefer and bulk cargo carrier StreamLines has begun a new weekly service linking Central America, the Caribbean,...
Written on 04/01/2018, 22:29
swisslog-provides-automated-pharma-facility-for-kuehne-nagelBUCHS, Switzerland: January 03, 2018. Swisslog, a specialist in warehouse automation and robotics, is implementing a 'high-bay' warehouse at Möhlin in the...
Written on 03/01/2018, 23:56
block-train-helps-maersk-line-expand-in-nepalMUMBAI: January 03, 2018. Responding to a Nepalese import market that has doubled in the past five years, Maersk Line says it wants to increase its block...
Written on 02/01/2018, 18:27
freightweek-news-update-week-01-2018DOHA: January 07, 2018: Qatar Airways Cargo operated 14 B777 freighter flights to carry 1,400 tonnes of cherries from Santiago, Chile via Doha to Shanghai...
Written on 30/12/2017, 20:41
freightweek-news-update-week-52DUBAI: December 30, 2017. Emirates SkyCargo reports carrying 2.5 million tonnes of airfreight in 2017 and a 38 percent growth in pharmaceutical traffic...
Written on 18/12/2017, 17:30
freightweek-news-update-week-51AMSTERDAM: December 22, 2017. Hutchison Ports has acquired a 50 percent stake in TMA Logistics, with three locations in Amsterdam and one in Antwerp as...
Written on 15/12/2017, 22:46
tx-logistik-buys-40-bombardier-locomotivesTROISDORF, Germany: December 14, 2017. Italian rail company TX Logistik has signed a purchase and maintenance contract with Bombardier Transportation for...
Written on 15/12/2017, 21:57
turkish-airlines-signs-airport-transfer-dealISTANBUL: December 14, 2017. Turkish Airlines has signed a consulting contract with Munich Airport International (MIA) to help facilitate the transfer of...
Written on 15/12/2017, 19:59
xeneta-to-add-air-to-ocean-rate-platform-in-2018OSLO: December 14, 2017. Ocean rate platform Xeneta is adding air cargo rates to a product suite that it says will "bring fresh levels of transparency to...
Written on 15/12/2017, 17:34
cargolux-gets-the-measure-of-wind-farmsLUXEMBOURG: December 15, 2017. Cargolux and Globaltrans Internationale Logistik have delivered two wind measuring buoys for two 2.8GW capacity wind...

- powered by Quickchilli.com -