Canadian Pacific & Hapag-Lloyd Extend Rail Transportation Agreement; Add Port of Saint John Service

Canadian Pacific (“CP”) and Hapag-Lloyd AG (“Hapag-Lloyd”) announced they have extended their long-term rail service agreement to the end of 2025. Additionally, after successful calls to the Port of Saint John, N.B., this summer, Hapag-Lloyd will begin regular service via CP and this key Atlantic Canada port starting in 2021.

“It’s a special day when we get to announce the renewal of a contract with Hapag-Lloyd, our largest customer by volume and a world-class ocean carrier,” said CP President and Chief Executive Officer Keith Creel. “It’s through our network reach and disciplined execution of the precision scheduled railroading model that we can offer a caliber of service capable of winning our customers’ support in this way. With our expanded reach to the deep-water port at Saint John, we are proud to offer Hapag-Lloyd another reason to use our services.”

CP regained access to the Port of Saint John in June 2020 with the acquisition of the Central Maine & Quebec Railway and through connections with the Eastern Maine and New Brunswick Southern railways.

“The return of CP was a transformational development for our region,” said New Brunswick Premier Blaine Higgs. “This agreement with Hapag-Lloyd is another critical step for our province. Port Saint John offers a competitive advantage, and this will lead to more jobs and more investment in New Brunswick.”

CP also serves Hapag-Lloyd through ports at Vancouver and Montréal.

“Having Hapag-Lloyd call the Port of Saint John regularly is the first step in the port becoming a world-class gateway,” Creel said. “Through the Port of Saint John, CP enjoys about a 200-mile advantage over our competition into Montréal, Toronto and Chicago. This East Coast advantage bodes well for businesses in Atlantic Canada, customers across our network, and for the broader supply chain. We are only just starting to unlock the potential that exists at the Port of Saint John.”

About Canadian Pacific

Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of CP. CP-IR

Source: Canadian Pacific Railway Limited