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File photo of a CN locomotive in Winnipeg. (Dave Bedard photo)
Crops, Reuters

CN CEO to retire as investor pressure weighs

Shareholder TCI has replacement in mind

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Reuters — Canadian National Railway (CN) said on Tuesday its CEO Jean-Jacques Ruest will retire at the end of January, following investor demands for his exit after the railroad operator’s failed bid for Kansas City Southern. TCI Fund Management, which owns five per cent of Canadian National, in August pitched former Jim Vena — a […] Read more
An eastward-facing view from the north edge of the crossing at Mile 98.14 of CN’s Ashcroft subdivision, where BCWS suspected the Lytton fire began. (TSB photo)
Crops, Machinery, Weather

No evidence trains sparked Lytton fire, TSB says

Transportation Safety Board now stepping out of ongoing fire probe

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There’s no proof the fire that largely destroyed a British Columbia village, damaged a key rail bridge and led to cuts in rail speed limits in high-risk areas was sparked by train traffic, the federal Transportation Safety Board says. The TSB on Thursday said its investigation, launched in early July, “has not revealed any evidence […] Read more
(CPR.ca)
Crops, Machinery

CP, Kansas City lock in new deal as CN steps out

More efficient flow of grain, perishables, machinery parts touted

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Canadian Pacific Railway and U.S. railway Kansas City Southern on Wednesday again formalized their engagement after competing suitor Canadian National Railway walked away from the table. CP and KCS, which reported “unanimous” support from both companies’ boards, have entered a merger agreement committing CP to pay about $31 billion in cash and stock, or about […] Read more
(File photo by Dave Bedard)
Crops, Reuters

Kansas City Southern plans to accept CP’s bid

Deal would create new lanes for Prairie freight, CP says

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Reuters — U.S. railway Kansas City Southern said on Sunday it planned to accept Canadian Pacific Railway’s US$27.2 billion cash-and-stock acquisition offer as superior to its US$29.6 billion deal to sell itself to Canadian National Railway. CN now has until the end of Friday to submit a better offer or lose its deal with KCS. […] Read more
A Kansas City Southern (KCS) rail car at Toluca, Mexico on Oct. 1, 2018. (File photo: Reuters)/Edgard Garrido)
Crops, Reuters

U.S. regulator rejects CN’s voting trust to buy Kansas City Southern

CP rips CN's play as 'illusory and not achievable'

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Reuters — The U.S. rail regulator on Tuesday rejected a voting trust structure that would have allowed Canadian National Railway (CN) to proceed with its US$29 billion proposed acquisition of U.S. peer Kansas City Southern. The decision was a blow to the deal that would create the first direct railway linking Canada, the U.S. and […] Read more
A Kansas City Southern (KCS) rail car at Toluca, Mexico on Oct. 1, 2018. (File photo: Reuters)/Edgard Garrido)
Crops

U.S. railway’s board sticks with CN’s bid

Kansas City Southern board spurns sweetened CP bid

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The board of directors for a U.S. railway facing takeover bids from each of Canada’s big two railways is sticking with Canadian National Railway’s (CN) proposal. The board for Kansas City Southern (KCS), in a release Aug. 12, said it unanimously agrees an upgraded Aug. 10 cash-and-stock bid from Canadian Pacific Railway (CP) “does not […] Read more
(Mysticenergy/iStock/Getty Images)
General, Machinery

Exemptions, extensions to be granted for rail crossing upgrades

New amendments would exclude low-risk field-to-field crossings

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Some farmer-owned field-to-field grade crossings over Canadian rail lines are now expected to be exempted altogether from looming federal requirements for safety upgrades. Proposed amendments to the Grade Crossings Regulations, announced June 18 by Transport Minister Omar Alghabra, this week cleared their 30-day public comment period. The amendments are expected to tweak rules which were […] Read more
Charred remnants of a rail bridge destroyed by a wildfire on June 30 are seen during a media tour by authorities in Lytton, B.C. on July 9, 2021. (Photo: Reuters/Jennifer Gauthier)
Crops, Reuters, Weather

Lytton bridge re-opened but grain movement ‘hit and miss’

B.C. wildfires continue to disrupt Prairie grain movement

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Canadian National Railway’s fire-damaged bridge at Lytton, B.C. reopened for traffic Tuesday — but all train movement, including for grain, through British Columbia’s wildfire-ravaged southern Interior, is “hit and miss” and will remain so until the fire risk lessens. “Both (CN and Canadian Pacific Railway) are having troubles because there are so many fires in […] Read more
An undated photo from CN’s media gallery shows a locomotive travelling through the Ashcroft, B.C. area. (CN.ca)
Crops, Machinery, Weather

CN, CP trains ordered to slow down against fire risk

Ministerial order in effect until Oct. 31

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A new federal ministerial order calls for Canada’s big two railways to significantly cut their train speeds in any areas deemed to be at an “extreme” fire risk. “With extreme weather events occurring more severely and frequently in Canada due to climate change, it is important to have an adaptive regulatory system that responds to […] Read more
A sign for Lytton, B.C. on July 1, 2021. (Photo: Reuters/Jennifer Gauthier)
Crops

Feds halt CN, CP trains through B.C. wildfire area for two days

'Extended recovery' expected for westbound grain traffic

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Updated — A federal ministerial order has been issued halting Canadian National and Canadian Pacific rail movement through the Kamloops area of British Columbia for 48 hours from midnight Friday. Transport Minister Omar Alghabra announced the order late Thursday, ahead of an authorized tour Friday by evacuated residents to the largely-destroyed village of Lytton, about […] Read more

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