translate arrow

DFDS to acquire Turkey's U.N. Ro-Ro
COPENHAGEN: April 18, 2018. European short-sea RoR...

Read more

Etihad Cargo supports bustard relocation
ABU DHABI: April 18, 2018. In the past three years...

Read more

New CMA CGM rail link between UK and China
LONDON GATEWAY: April 18, 2018. GB Railfreight, ow...

Read more

Dutch add more short-sea capacity to London
LONDON: April 18, 2018. Dutch-based A2B-online Con...

Read more

Saudia Cargo gets new CEO
JEDDAH, Kingdom of Saudi Arabia: April 17, 2018. F...

Read more

Turkish Cargo to introduce new routes
ISTANBUL: April 17, 2018. Turkish Cargo is to begi...

Read more

South Carolina opens second inland port
DILLON, SC: April 16, 2018. The South Carolina Por...

Read more

North Sea Port reports increase in first combined traffic
GENT, Belgium: April 16, 2018. North Sea Port (NSP...

Read more

Delta Cargo up 23 percent in Q1 2018
ATLANTA: April 12, 2018. Delta Air Lines has repor...

Read more

DFDS to acquire Turkey's U.N. Ro-Ro
Etihad Cargo supports bustard relocation
New CMA CGM rail link between UK and...
Dutch add more short-sea capacity to London
Saudia Cargo gets new CEO
Turkish Cargo to introduce new routes
South Carolina opens second inland port
North Sea Port reports increase in first combined...
Delta Cargo up 23 percent in Q1 2018...

Latest News

Lekki port CMA CGM
17 Apr, 2018

Nigeria’s first deep-sea port to open in 2020

in ports
LEKKI PORT, Nigeria: April 16, 2018. CMA CGM and Lekki Port LFTZ Enterprise have signed…
Rift Valley Railways
17 Apr, 2018

World Bank sanctions African Railways Logistics

in Rail
WASHINGTON, April 16, 2018. The World Bank Group has barred Africa Railways Logistics…
HyperloopTT Tube2
16 Apr, 2018

Hyperloop technology takes another high-speed step

in Latest News
TOULOUSE: April 16, 2018. HyperloopTT has taken delivery of full-scale passenger and…
13 Apr, 2018

First drone delivery network for medicines set to expand

in Humanitarian
ATLANTA: April 13, 2018. The UPS Foundation has awarded grants and in-kind support of…
Charleston harbor
13 Apr, 2018

BMW helps Port of Charleston achieve March record

in Ocean
CHARLESTON, SC: April 11, 2018. The South Carolina Ports Authority (SCPA) reports an…
IRI World Congress
12 Apr, 2018

European road transport operators want technology to replace paper

in Road
AMSTERDAM: April 12, 2018. A survey of European road haulage operators by the world…
10 Apr, 2018

Nestlé follows Dutch lead for circular economy

in Latest News
DEN HAGUE: April 10, 2018. According to the Netherlands Statistical Office, some 9.0…
HP 3D printing
09 Apr, 2018

HP says 3D printing reduces supply chain costs

in Manufacturer
ST LOUIS, MO: April 09, 2018. HP says industrial-scale 3D printing is growing with repeat…
07 Apr, 2018

HyperloopTT to set up innovation lab in Brazil

in Latest News
PLAYA VISTA, CA: April 06, 2018. Hyperloop Transportation Technologies (HyperloopTT) is…

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.

Corporate News


- powered by Quickchilli.com -