02:33:34 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Canadian National Railway Company
Symbol CNR
Shares Issued 643,833,245
Close 2024-01-23 C$ 169.44
Market Cap C$ 109,091,105,033
Recent Sedar Documents

Globe/CP say Red Sea conflict will hamper CN operations

2024-01-24 08:20 ET - In the News

The Globe and Mail reports in its Wednesday edition that Canadian National Railway is girding itself for ripple effects from the conflict in the Red Sea. A Canadian Press dispatch to The Globe reports that major container carriers are steering clear of the area. The longer travel time and scrambled schedules have resulted in delays of up to three weeks on container ships slated to roll into the Port of Halifax -- a key hub for CN -- over the next month. Earlier this month, an extreme cold snap in the Prairies hampered CN operations. Extreme cold reduces train lengths and thus cargo volumes and efficiency. The frigid start to the year followed a fourth quarter where revenues slid owing to lower grain and container shipments, even as CN shored up parts of its operations. It reported revenues of $4.47-billion in the three months ended Dec. 31, a 2-per-cent decrease from $4.54-billion in the same period a year earlier. The dip nonetheless marked an improvement from a tough third quarter that saw profits drop as a result of falling consumer demand, fallout from the B.C. port strike and a raft of forest fires and floods. CN expects operations to improve at the West Coast ports of Vancouver and Prince Rupert.

© 2024 Canjex Publishing Ltd. All rights reserved.