Canadian National also in talks with their workers, setting up a precarious freight scenario
Canadian Pacific Kansas City Ltd. is steeling itself for the possibility of a strike by some 3,300 workers next month, as the clock ticks down toward a negotiation deadline.
With 6,000 workers at rival Canadian National Railway Co. in talks with their employer as well, the possibility of work stoppages at two rail companies looms this spring, which combined could grind virtually all freight rail traffic in Canada to a halt. The Teamsters Canada Rail Conference has said safety is at stake, claiming that the country’s two main railways aim to eliminate all “safety-critical rest provisions” from their collective agreements.
But the Calgary-based company’s core adjusted operating income stayed flat at about $1.26 billion when compared with the combined income of Canadian Pacific and Kansas City Southern a year earlier. The former acquired the latter in December 2021 in North American’s first major rail merger in decades, but had to wait to merge operations until April last year following regulatory approval of the deal.
The bottleneck barely registered on CPKC’s results, however, with average train speed up 13 per cent and dwell time — the time a railcar spends waiting in a terminal — reduced by 10 per cent. Ongoing missile strikes by Iran-backed Houthi militants in Yemen have pushed major container carriers to steer clear of the area. The crisis prompted many shippers that had recently switched to the Suez Canal to return to transpacific routes between Asia and North America.
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