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SOURCE Canadian Pacific
CALGARY, May 8, 2014 /PRNewswire/ - Canadian Pacific (TSX: CP) (NYSE: CP) Chief Executive Officer E. Hunter Harrison said today direct face-to-face discussions based on facts are the best way to make progress on strengthening Canada's grain handling and transportation system.
"We need constructive dialogue instead of the ongoing back and forth that is happening in the media among various parties," said Harrison. "CP has reached out to customers and other stakeholders, including the Western Grain Elevator Association, and look forward to further constructive dialogue in person, rather than through the media. This way, stakeholders like the WGEA, would have a better understanding of supply chain realities and everything CP is doing to continue to move record amounts of grain."
Harrison noted some CP Canadian grain highlights:
Harrison also responded to suggestions grain should have moved to the United States during the extreme winter weather periods. He noted sending grain cars to a congested terminal like Chicago during this past winter would have significantly impacted the supply chain's ability to move grain to the benefit of Canadian farmers.
2013 was a record crop for the grain supply chain. Harrison said at close to 80 million metric tonnes (MMT), this crop is 27 per cent above the previous 2008/2009 record and 37 per cent above the 5-year average. This amounts to an incremental 22 MMT of grain that needs to be moved to an export position in addition to the 33 to 34 MMT that normally moves.
"The reality is that Canada's grain handling system is just not built to handle this record amount of grain and CP is moving all the grain the supply chain can currently handle," said Harrison. "CP is moving grain in all available lanes but we need to move grain to fluid outlets with strong cycle times to move as much grain as possible as quickly as possible."
Harrison added, "This is a capacity problem and the Canadian supply chain needs to be searching for a capacity solution. Rail is only one element of the supply chain."
About Canadian Pacific
Canadian Pacific (TSX:CP)(NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to eight major ports, including Vancouver and Montreal, providing North American customers a competitive rail service with access to key markets in every corner of the globe. CP is a low-cost provider that is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit www.cpr.ca to see the rail advantages of Canadian Pacific.
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