COMPANY NEWS

Port of Montreal to receiver $300 million in federal funding

December 4, 2019 – The Canada Infrastructure Bank announced it is committing up to $300 million in financing to the Port of Montreal’s project to build a new container terminal in Contrecoeur. The Canada Infrastructure Bank’s (CIB) financing demonstrates significant support for the expansion of the largest port in Eastern Canada, which must expand its activities to fully participate in national economic growth. This project will enable the port to meet the needs of the market in the coming decades. The Contrecoeur expansion will allow the Port of Montreal to increase its container handling capacity, according to Sylvie Vachon, president and CEO of the Port of Montreal. “We will be more competitive, which will strengthen Montreal’s role as a hub for maritime trade in Eastern Canada. This will support national economic prosperity through job creation and supply chain development,” she said.

Air freight volumes decline year over year

December 2, 2019 – Air freight’s pattern this year of declining year-on-year general cargo demand continued in October, with worldwide air cargo volumes down 5% compared with the same month in 2018 – in line with the worldwide average decline in volumes of 5% for the year to date – according to figures from WorldACD Market Data. Average yields, in U.S. dollars, decreased by 11%, year on year and, as a result, overall revenues from air cargo in U.S. dollars were 16% lower.

12th Update – Tentative settlement reached

November 26, 2019 – Breaking news as a tentative deal has been reached between CN and its union this morning. With this agreement the strike will cease as of 6 am tomorrow and trains will start running again. Canaan Transport thanks our customers for their patience during this time as we look to get back on schedule.

11th Update – Both sides dig in as talks at an impasse

November 25, 2019 – After a weekend with no change in the CN rail strike, pundits are now predicting a prolonged strike with only federal intervention changing the status quo. The earliest that the government can put in place back to work legislation will be Dec 5th. In the meantime, there have been some intermodal trains moving throughout the network (about 10%) but our customers are advised to contact us if their product needs to be trans loaded and trucked to avoid delays.

10th Update – CN Rail talks continue

November 23, 2019 – We would like to update you on CN’s collective bargaining with the Teamsters Canadian Rail Conference (TCRC), which represents approximately 3,200 of CN employees working as train conductors and railyard coordinators in Canada. Negotiations continue over this weekend and the two sides are working closely with Minister of Transport Marc Garneau and now with the new Minister of Labour Filomena Tassi, to find a solution.

9th Update – Pressure mounting on Liberal government to step into CN Rail dispute

November 22, 2019 – Prime Minister Justin Trudeau’s new cabinet could find itself moving faster than anticipated to deal with anger in the West over challenging economic conditions, in the face of a rail strike that a growing number of industry leaders say could trigger layoffs and closures and cost millions. The Liberals are being urged to step in with legislation to end the strike by roughly 3,200 Canadian National Railway Co. workers, which began early Tuesday after the workers and CN failed to reach a deal.

8th Update – Update is available on CN Rail’s website

November 21, 2019 – There has been no significant update in the negotiations. Although CN Rail claims that intermodal trains are running normally, Canaan Transport is assuming that come this weekend, there will be significant delays if the strike continues. We have been asked to provide CN’s website for daily labor negotiation update . Please see the following. https://www.cn.ca/en/media/labour-negotiations-update/

7th Update – CN Rail negotiations under a cone of silence

November 20, 2019 – Whether or not this is an intentional silence during negotiations, no news has come out of the federally mediated talks between CN Rail and its union. Canaan Transport interprets this as a good sign and sources indicate that a deal could be announced by the end of the week to avoid additional delays or impact to the economy. More news as it develops.

6th Update – No news thus far

November 20, 2019 – Negotiations are expected to resume today between CN Rail and its union with the help of the federally appointed mediator. As an update, we are currently able to transload cargo in Vancouver to expedite it to Toronto for customers that need this urgent service. Please contact our Richmond office for more details.

5th Update – Federal mediation for CN Rail strike

November 19, 2019 – As of noon Tuesday, November 19th, Canaan Transport has been informed of the following update from CN.

• The Federal mediator is still involved in negotiations between the railway and the union and both will continue to negotiate today.

• In the meantime CN is unwinding the railroad and taking trains offline.

• There will be no new releases for manifest customers due to safety concerns.

• There will be no new trains loaded at origin.

• CN will be running limited operations where it can but is far from having a sufficient amount of managers to run the trains.