BOSTON — CN Rail says that its operations are performing better than it expected so far in the second quarter after a rough winter that led to the replacement of its chief executive.<\/p>\n
Chief financial officer Ghislain Houle told a transportation conference on Tuesday that volumes are up 14 per cent in the first two weeks of May after falling four per cent in the first quarter.<\/p>\n
Demand is strong for frac sand, lumber, Canadian grain and coal, he said.<\/p>\n
The Montreal-based railway says its port facility at Prince Rupert, B.C., is expanding faster than expected and should hit capacity two years ahead of schedule.<\/p>\n
Houle says the operating performance will see a particular improvement in the fourth quarter after significant investments in the railway network, especially in Western Canada.<\/p>\n
CN Rail increased its capital expenditures by $200 million to reach $3.4 billion, is qualifying hundreds of new conductors and buying 200 locomotives over the next three years.<\/p>\n
Two days after CN Rail dumped its CEO in March, his interim replacement, Jean-Jacques Ruest, apologized for the railway’s poor performance last winter and promised immediate action to clear the backlog of grain shipments.<\/p>\n
Companies in this story: (TSX:CNR)<\/p>\n","protected":false},"excerpt":{"rendered":"
BOSTON — CN Rail says that its operations are performing better than it expected so far in the second quarter after a rough winter that led to the replacement of its chief executive. Chief financial officer Ghislain Houle told a transportation conference on Tuesday that volumes are up 14 per cent in the first two […]<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/9606"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=9606"}],"version-history":[{"count":2,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/9606\/revisions"}],"predecessor-version":[{"id":9638,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/9606\/revisions\/9638"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=9606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=9606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=9606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}