Canadian railroads benefit from strong intermodal market

© Robert Philip

Canadian National (CN) has recorded a 7% upturn in revenue for its intermodal division during the three months to March. In total, some C$850m was generated in the first quarter, suggesting a good Canadian intermodal market, with Canadian Pacific also reporting growth. CN chief executive JJ Ruest said he was pleased that the team “continued to deliver very strong results”. He added: “Despite a prolonged period of historic cold temperatures in key segments of our network, CN railroaders delivered record first-quarter carload volumes, adding C$350m of top-line growth, while improving year-on-year car velocity. We remain on track to deliver on our 2019 financial outlook.”