CN Announces New Intermodal Rail Service Between Moncton and Halifax

Rhea-AI Summary

CN (TSX: CNR) (NYSE: CNI) announced a partnership with Halifax Port Authority to enhance supply chain efficiency by offering integrated intermodal services through its Moncton yard. This initiative aims to reduce short-haul trucking in Halifax, benefiting stakeholders and customers in the Atlantic region. The CN Intermodal Ramp in Moncton is expected to positively impact truck traffic by loading containers onto rail instead of trucking them to Halifax. CN transports over C$250 billion worth of goods annually across a vast rail network, contributing significantly to the economy.

Positive

• Collaboration with Halifax Port Authority enhances supply chain efficiency.
• New intermodal service reduces short-haul trucking in Halifax.
• The CN Intermodal Ramp in Moncton positively impacts truck traffic.

Negative

• None.

Railway Aims to Encourage Efficiency Within Supply Chains

MONTREAL, May 22, 2020 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today that, in collaboration with the Halifax Port Authority, stakeholders, ocean carriers, and customers, it will now offer integrated solutions through its Moncton yard aimed at reducing short-haul trucking in Halifax.

“This intermodal service will play a key role in overall integrated solutions that drive value and support growth in the Atlantic region,” said JJ Ruest, president and chief executive officer at CN. “We are pleased to be moving forward with this initiative that will benefit all of our partners and customers.”

“The CN Intermodal Ramp in Moncton continues to have a positive impact on truck traffic as containers are loaded and unloaded onto rail at that point as opposed to being trucked to and from Halifax,” explained Captain Allan Gray, president and Chief executive officer, Halifax Port Authority. “Expanding the existing CN Intermodal Ramp in Moncton is showing positive results during this initial development phase, and we will continue working with CN, terminal operators and ocean carriers to find new ways of developing a more sustainable supply chain.”

CN is a true backbone of the economy, transporting more than C$250 billion worth of goods annually for a wide range of business sectors, ranging from resource products to manufactured products to consumer goods, across a rail network of approximately 20,000 route miles spanning Canada and mid-America. CN – Canadian National Railway Company, along with its operating railway subsidiaries – serves the cities and ports of Vancouver and Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth, Minn./Superior, Wis., and Jackson, Miss., with connections to all points in North America. For more information about CN, visit the Company’s website at www.cn.ca.

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FAQ

What is CN's new initiative regarding intermodal services in Halifax?

CN is collaborating with the Halifax Port Authority to offer integrated intermodal services aimed at reducing short-haul trucking in Halifax.

How does the CN Intermodal Ramp in Moncton benefit supply chains?

The CN Intermodal Ramp in Moncton allows for the loading of containers onto rail, which decreases truck traffic to Halifax, enhancing supply chain efficiency.

What is the economic significance of CN's operations?

CN transports more than C$250 billion worth of goods annually across a rail network of approximately 20,000 route miles, playing a crucial role in the Canadian economy.

Who announced the collaboration for intermodal services?

CN announced the collaboration with the Halifax Port Authority on May 22, 2020.

What are the expected outcomes of the new intermodal service by CN?

The new intermodal service is expected to drive value and support growth in the Atlantic region by improving transport efficiency.