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Canadian Pacific Railway Inks Multi-year Rail Deal With A.P. Moller - Maersk

(RTTNews) - Canadian Pacific Railway Ltd. (CP.TO, CP) Monday announced a multi-year rail agreement with A.P. Moller - Maersk to move freight through the ports of Vancouver and Montreal.

The agreement is further to the September 15 announcement regarding the construction of a new, world-class transload and distribution facility in Vancouver to expand CP's and Maersk Canada's supply chain options for customers.

"We are proud to provide safe and efficient rail service to the world's largest shipping company, and with Maersk we see a strong relationship developing," said CP's President and CEO Keith Creel. "Today's news coupled with the announcement of the Vancouver transload facility back in September are evidence of the power of our operating model, our people and of our shared commitment to sustainable growth. Furthermore, our unique land holdings and co-location opportunities, network advantages and commitment to service excellence continue to create win-win scenarios and capacity for our customers and the broader supply chain."

The strategic relationship is expected to result in CP moving Maersk traffic on March 1, 2021 and applies to both dry and refrigerated cargo.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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