Canadian National Railway is making a $33.7 billion cash-and-stock offer for the Kansas City Southern. The bid is higher than a $25 billion cash-and-stock proposal made by Canadian Pacific last month.
Read MoreTag: Canadian National Railway
Canadian National Railway Says Business is Downhill
Canadian National Railway Co. said business has gone downhill since mid-March as the COVID-19 pandemic ripped into a sector that serves as a barometer of economic cycles.
Read MoreThis Week’s Market Buzz
Canadian National Railway (CN) reported a higher than expected net profit in the first quarter but said lower commodity shipments weighed on revenue and have prompted a downward revision to the company’s 2016 financial outlook. Its frac sand business was down 45 percent and coal was cut in half, accounting for 3.1 percent of total business, the lowest of any…
Read MoreThis Week’s Market Buzz
Canadian National Railway Co. reported better-than-expected fourth-quarter earnings and boosted its dividend, but lagged its main Canadian rival in a key efficiency measure. CN Rail said it is aiming to increase shipments of crude oil and frac sand in 2015 despite a steep decline in the price of oil. “There’s a lot of investments that are being made by our customers…
Read MoreCanadian Railways Dealing With Demand
According to CTV News, volatility in energy prices is expected to be a “wild card” for Canadian railways in the long term, but crude-by-rail volumes should continue to grow, albeit more slowly, in 2015.
Read MoreNews Briefs – November 2014
According to the latest PacWest Consulting Partners ProppantIQ market study, North America proppant consumption is expected to increase at 23 percent per annum through 2016, from 80 billion lb. in 2013 to 153 billion lb. in 2016, with much of the growth occurring in frac sand consumption. Growth in proppant consumption is driven by an increasing number of horizontal wells…
Read MoreThis Week’s Market Buzz
Hi-Crush Partners LP announced the appointment of Jeffery A. Johnson as director of environmental compliance, with the responsibility for maintaining and administering the regulatory compliance programs for all Hi-Crush facilities. Johnson brings more than 15 years of experience to the company, with the majority working within the environmental regulatory programs at the Wisconsin Department of Natural Resources. Johnson will have…
Read More