CP and Hapag-Lloyd Announce Additional Seasonal Port Saint John Call
CALGARY, Alta., April 25, 2022 /CNW/ – Canadian Pacific (NYSE: CP) (TSX: CP) and Hapag-Lloyd AG (XETR: HLAG) (FWB: HLG) today announced an additional port call Saint John, NBvia a seasonal supplemental charger in another step forward for growth Atlantic Canada Port.
This additional call follows their first call for service in Port Saint John in May 2021connecting via CP rail service to the domestic markets of Canada and United States.
“We are thrilled to see Hapag-Lloyd add a second solution to Port Saint John, further unlocking the port’s potential for CP customers and the North American supply chain,” said John Brooks, executive vice president and chief marketing officer of CP. “Port Saint John provides a congestion-free gateway to Canadian and US markets. In combination with DP World, CP’s East Coast Advantage offers the fastest and most reliable public transit to Montreal, Toronto and Chicago.”
CP regained access to Port Saint John by June 2020 with the strategic acquisition of Central Maine & Quebec Railway, which has connections to the Eastern Maine and the New Brunswick Southern Railways. This vital link to Port Saint John offers the shortest route between Atlantic Canada and North American domestic markets, including a 269-mile advantage over our competitors for Montreal, Toronto and Chicagocreating value for shippers through North America.
“We are excited to be able to offer another product to our customers in the United States and Canada,” mentioned Uffe Ostergaard, President of Hapag-Lloyd Americas. “This seasonal product will be especially beneficial for connecting customers located inside the U.S. Midwest and throughout the Canada with the main ports of Northern Europe.”
Port Saint John has embarked on an enhanced modernization program that will increase container capacity to 800,000 TEUs and provide additional rail capacity at the docks in the months and years to come.
“We are delighted to welcome Hapag-Lloyd’s second connection to Port Saint John, linking this port to the markets of North Europe,” mentioned Craig Bell Estabrooks, CEO, Port Saint John. “The choice of port for this product highlights the importance of a diverse supply chain. By modernizing our infrastructure, adding DP World, a world-class terminal operator, and reconnecting to CP’s network, we have solidified our place among the world’s leading container ports. Canada.”
East Port Saint John Eastern Canada largest port by volume and has a diverse cargo base, handling an average of 28 million metric tons of cargo annually, including dry and liquid bulks, general cargo and containers. With 56 acres of terminal area, DP World Saint John offers year-round ice-free access, with deep draft and no air draft restrictions.
“Together with our supply chain partners, we are delighted to welcome this additional seasonal service from Hapag-Lloyd to DP World Saint John,” said Matthew Leech, Chief Executive Officer and Managing Director, Americas Region, DP World. “As an end-to-end logistics solutions provider, DP World Saint John has sufficient capacity to provide reliable, congestion-free service to carriers and shippers. This service will help further strengthen the global supply chain while generating sustainable economic growth for the region. . It’s another way to help Canadians get the goods they need by making the flow of trade smarter, faster and more sustainable.
Note on forward-looking information
This press release contains certain forward-looking information and forward-looking statements (collectively, “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information includes, but is not limited to, statements regarding expectations, beliefs, plans, goals, objectives, assumptions, and statements regarding possible future events, conditions, and results of operations or performance. . Forward-looking information may contain statements with words or titles such as “will”, “anticipate”, “believe”, “expect”, “plan”, “should” or similar words suggesting future results.
This press release contains forward-looking information relating to, but not limited to, our operations, priorities and plans, the expected timely performance by us and Hapag-Lloyd AG of our respective obligations, the timing and intended use, as well as the impacts and benefits towards, the wearing of Saint Jean by Hapag-Lloyd AG and the planned and future benefits of CP’s rail network from the port of Saint Jean to companies of Atlantic CanadaCP customers and the supply chain.
The forward-looking information contained in this press release is based on current expectations, estimates, projections and assumptions, given CP’s experience and its perception of historical trends, and includes, but is not limited to, expectations , estimates, projections and assumptions regarding: North American and global economic growth; growth in demand for raw materials; agricultural production; commodity prices and interest rates; the performance of our assets and equipment; applicable laws, regulations and government policies; the availability and cost of labour, services and infrastructure; the fulfillment by third parties of their obligations to CP; the anticipated impacts of the new strain of coronavirus (and the disease known as COVID-19); and capital investments by third parties. Although CP believes that the expectations, estimates, projections and assumptions reflected in the forward-looking information presented herein are reasonable as of the date hereof, there can be no assurance that they will prove to be correct. Current economic and other conditions render assumptions, while reasonable when made, subject to greater uncertainty.
Undue reliance should not be placed on forward-looking information, as actual results may differ materially from those expressed or implied by the forward-looking information. By its nature, CP’s forward-looking information involves inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking information, including, but not limited to, the following factors: changes in strategies commercial; general economic, credit and business conditions in North America and around the world; risks associated with agricultural production, such as weather conditions and insect populations; the availability and price of energy products; the effects of competition and pricing pressures; industry capacity; changes in market demand; changes in commodity prices; uncertainty surrounding the timing and volumes of products shipped through CP; inflation; changes in laws, regulations and governmental policies, including rate regulation; changes in taxes and tax rates; potential increases in maintenance and operating costs; changes in fuel prices; uncertainties of investigations, proceedings or other types of claims and litigation; labor disputes; risks and liabilities arising from derailments; transport of dangerous goods; schedule for completion of capital and maintenance projects; currency and interest rate fluctuations; trade restrictions or other changes in international trade agreements; climate change; various events that could disrupt operations, including severe weather events, such as droughts, floods, avalanches, and earthquakes, and cybersecurity attacks, as well as security threats and the government response to them. ci, and technological changes; and the pandemic created by the outbreak of the novel strain of coronavirus (and the disease known as COVID-19) and the resulting effects on economic conditions, the demand environment for logistics needs and the energy prices, restrictions imposed by public health authorities or governments, taxation and monetary policy responses by governments and financial institutions, and disruptions to global supply chains. The foregoing list of factors is not exhaustive. These and other factors are detailed from time to time in reports filed by CP with the securities regulators of Canada and United States. See “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Forward-Looking Statements” in CP’s annual and interim reports on Forms 10-K and 10-Q.
The forward-looking information contained in this press release is made as of the date hereof. Except as required by law, CP undertakes no obligation to publicly update or otherwise revise any forward-looking information, or the foregoing assumptions and risks affecting such forward-looking information, whether as a result of new information, future events or otherwise.
About Canadian Pacific
Canadian Pacific is a transcontinental railway in Canada and United States with direct connections to major ports on the west and east coasts. CP offers its North American customers competitive rail service with access to key markets around the world. CP grows with its customers, offering a range of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see CP rail benefits. CP-IR
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SOURCE Canadian Pacific
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