News Content
Canadian National profit up 21pc to US$2.5 billion as revenues rise 15pc
THE Canadian National Railway (CN) posted a 21 per cent year-on-year profit increase in 2015 to C$3.5 billion (US$2.5 billion) drawn on annual revenues of C$12.6 billion, up 15 per cent.
Full year intermodal revenues increased by C$148 million, or five per cent, when compared to 2014.
"The increase was primarily due to higher international shipments, mainly through the Port of Prince Rupert, the positive impact of a weaker Canadian dollar, and freight rate increases. These factors were partly offset by a lower applicable fuel surcharge rate," said the CN statement.
Intermodal includes rail and trucking and includes both domestic and international traffic.
"The domestic segment transports consumer products and manufactured goods, serving both retail and wholesale channels, within domestic Canada, domestic US, Mexico and transborder, while the international segment handles import and export container traffic, serving the major ports of Vancouver, Prince Rupert, Montreal, Halifax, New Orleans and Mobile," said the statement.
CN freight revenues are derived from seven commodity groups. In 2015, no individual commodity group accounted for more than 23 per cent revenue.
From a geographic standpoint, 18 per cent of revenues relate to United States domestic traffic, 33 per cent transborder traffic, 18 per cent Canadian domestic traffic and 31 per cent overseas traffic.
The company is the originating carrier for 85 per cent of traffic moving along its network, which allows it both to capitalise on service advantages and build on opportunities to efficiently use assets.
Higher freight volumes due to a record 2013/2014 Canadian grain crop, strong energy markets, particularly crude oil and frac sand, as well as new intermodal and automotive business brought last year's increased revenue.
Also contributing was the positive translation impact of the weaker Canadian dollar on US dollar-denominated revenues; and freight rate increases.
CN's network of 20,000 miles of track spans Canada and mid-America, uniquely connecting three coasts: the Atlantic, the Pacific and the Gulf of Mexico, linking all three North American Free Trade Agreement (NAFTA) nations.
"A true backbone of the economy, CN handles over C$250 billion worth of goods annually and carries more than 300 million tons of cargo, serving exporters, importers, retailers, farmers and manufacturers," said the company statement.
Full year intermodal revenues increased by C$148 million, or five per cent, when compared to 2014.
"The increase was primarily due to higher international shipments, mainly through the Port of Prince Rupert, the positive impact of a weaker Canadian dollar, and freight rate increases. These factors were partly offset by a lower applicable fuel surcharge rate," said the CN statement.
Intermodal includes rail and trucking and includes both domestic and international traffic.
"The domestic segment transports consumer products and manufactured goods, serving both retail and wholesale channels, within domestic Canada, domestic US, Mexico and transborder, while the international segment handles import and export container traffic, serving the major ports of Vancouver, Prince Rupert, Montreal, Halifax, New Orleans and Mobile," said the statement.
CN freight revenues are derived from seven commodity groups. In 2015, no individual commodity group accounted for more than 23 per cent revenue.
From a geographic standpoint, 18 per cent of revenues relate to United States domestic traffic, 33 per cent transborder traffic, 18 per cent Canadian domestic traffic and 31 per cent overseas traffic.
The company is the originating carrier for 85 per cent of traffic moving along its network, which allows it both to capitalise on service advantages and build on opportunities to efficiently use assets.
Higher freight volumes due to a record 2013/2014 Canadian grain crop, strong energy markets, particularly crude oil and frac sand, as well as new intermodal and automotive business brought last year's increased revenue.
Also contributing was the positive translation impact of the weaker Canadian dollar on US dollar-denominated revenues; and freight rate increases.
CN's network of 20,000 miles of track spans Canada and mid-America, uniquely connecting three coasts: the Atlantic, the Pacific and the Gulf of Mexico, linking all three North American Free Trade Agreement (NAFTA) nations.
"A true backbone of the economy, CN handles over C$250 billion worth of goods annually and carries more than 300 million tons of cargo, serving exporters, importers, retailers, farmers and manufacturers," said the company statement.
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
