CN Propane Supply Chain Sets New Record

Rhea-AI Summary

CN (CNI) reported that three vessels of Canadian propane have left the Ridley Island Propane Export Terminal, surpassing the previous record by 50%. The terminal, operational since May 2019, has transported over 1 million tonnes of propane using CN’s rail network. Executive Robert Reilly emphasized the importance of CN's investments in supply chain capacity for market growth. As global economies revive, CN aims to provide reliable energy sources, crucial for Canada's economic recovery.

Positive

• Achieved a new record with three vessels carrying propane, exceeding the previous record by 50%.
• Since May 2019, over 1 million tonnes of propane have been transported, indicating strong demand and operational efficiency.
• CN's investments in capacity are enhancing customer supply chains, supporting market expansion.

Negative

• None.

MONTREAL, June 11, 2020 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today that three vessels carrying Canadian propane destined for international markets departed from AltaGas’ Ridley Island Propane Export Terminal located in British Columbia beating the previous record by 50%.

The Ridley Island Propane Export Terminal exclusively uses CN’s transcontinental rail network to safely transport propane from Alberta and British Columbia for export to global markets. Since its launch in May 2019, the terminal has moved over 1 million tonnes of propane. 

“CN’s investments in its Edmonton to Prince Rupert corridor continue to help support and enable strong and reliable supply chains,” declared Robert Reilly, executive vice president and chief operating officer at CN. “By investing in capacity, we are supporting our customers’ ability to grow and expand to new markets. Propane is an essential commodity required for commercial, residential, and industrial use and we are proud to be providing a critical, safe, and reliable option for our customers. Congratulations to all the energy workers and railroaders involved in achieving this new record.”

“As world economies start to get moving again, we are committed to enabling their growth and success,” said James Cairns, senior vice president, rail centric supply chain at CN. “CN has been at the forefront of innovation and identifying how we can create new supply chains and expand the country’s trade with international markets. The Ridley Island Propane Export Terminal is an excellent example of how we work directly with our customers to help them win in their markets and expand to new ones. We are proud to go above and beyond for our customers and of what our collaboration can achieve.”

“International markets are constantly looking for new reliable sources of energy,” explained Buck Rogers, vice president, petroleum and chemicals at CN. “Canada’s ability to provide this energy, safely and efficiently, is key to our economic recovery and to our role as a global trading partner. While the energy industry has been particularly affected by the recent economic downturn, CN remains committed to providing a safe and reliable solution to getting Canadian Energy to international markets.”

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, 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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Media	Investors
Jonathan Abecassis	Paul Butcher
Senior Manager	Vice-President
Media Relations	Investor Relations
(514) 399-7956	(514) 399-0052

FAQ

What record did CN (CNI) achieve recently in propane exports?

CN announced a new record of three vessels carrying Canadian propane from Ridley Island, surpassing the previous record by 50%.

When did the Ridley Island Propane Export Terminal commence operations?

The Ridley Island Propane Export Terminal began operations in May 2019.

How much propane has CN (CNI) transported since the terminal's launch?

CN has transported over 1 million tonnes of propane since the terminal's launch.

What role does the Ridley Island Propane Export Terminal play in international markets?

The terminal provides a reliable source of Canadian propane to international markets, supporting global energy needs.

How does CN (CNI) contribute to Canada's economic recovery?

CN is committed to efficiently transport Canadian energy to international markets, aiding in economic recovery post-economic downturn.