The moves follow a major backlog in grain shipments last winter. However, both railways have roared back from the bottleneck. CP moved 2.64 million tonnes of Canadian grain and grain products in October, a company record for monthly shipments that it nearly matched in November.CN reported the highest quarterly revenues in its 99-year history in October, spurred on by revenue growth of between 15 percent and 25 percent for grain and fertilizers as well as metals and minerals, forest products and coal.CP, though lacking its rival’s broad access to maritime ports, traffics heavily in bulk commodities such as grain, potash, coal and fertilizer that amount to 44 percent of its revenue, according to a DBRS report from October.“There’s this shift in China where the diet is changing to more Western-style habits and they’re eating a lot more grain. That also demands a lot more potash 1/8for fertilizer 3/8 than the traditional seafood-based diet,” Deutsche Bank analyst Seldon Clarke said. MONTREAL – Canada’s two major railways are well-positioned to weather potential economic headwinds and the U.S.-China trade war, analysts say, as ongoing investments in new cars and track bolster crude-by-rail and commodities shipments.Canadian National Railway Co. and Canadian Pacific Railway Ltd. shipped 23 percent more oil and petroleum in 2018 to drive a four percent increase in total freight traffic, according to the Association of American Railways.Crude-by-rail exports have spiked over the past year amidst a pipeline shortage and a big discount on Western Canadian Select oil, hitting a record 327,229 barrels per day in October, a 58 percent year-over-year increase, according to the National Energy Board. With Enbridge’s Line 3 not set to come online until late this year and the Trans Mountain expansion facing uncertainty, CN and CP can expect continued high demand for shipments of the black stuff, DBRS analyst Amaury Baudouin said.The railways have drawn on lessons from unfilled contracts following the crude-by-rail boom five years ago, entering into multi-year contracts with oil shippers that set minimum volumes and higher fees to help insulate them from volatile demand, he said.“I think lessons of the past have been learned, and a lot of this capacity is being contracted on a take-or-pay basis…which means that if the economics of Western Canadian oil change a lot, CN and CP will still have that oil to move around to the U.S. refineries and the Gulf Coast.”In 2017 petroleum, chemicals and plastics brought in 16 percent of CN’s $13.04 billion in revenue and 14 percent of CP’s $6.38-billion revenues. With crude comprising only a portion of those categories, surging sales will have a limited impact on the bottom line and the stock price, Baudouin cautioned.Over the past year, Montreal-based CN has invested in rail cars, track doubling and expanded rail yards, particularly between Chicago and the West Coast, to the tune of $3.5 billion, 30 percent more than its three-year average. It has plans to keep building in 2019.Calgary-based CP, meanwhile, aims to have 1,000 more grain cars in service by this spring, following CN’s order for 1,000 hoppers last May. The expanded port at Prince Rupert, B.C., where CN has laid track directly on the dock, is another reason for long-term optimism. It offers shippers a swift route for Asian-produced goods, avoiding the congestion of Vancouver and Los Angeles. Meanwhile, more grain is being stuffed into shipping containers and dropped on carriers bound for China, he said.Lumber and automotive parts, however, pose a potential weak point for both railways.“The American housing market is looking pretty weak and not going to have a sharp turnaround any time soon. Same goes for the auto industry in the U.S.,” Clarke said, pointing to plummeting lumber prices. Automotive shipment revenues dropped 21 percent for CP and 10 percent for CN in 2017, with further declines in 2018.Ongoing steel and aluminum tariffs affect only a fraction of the railways’ shipments, but CN and CP remain vulnerable to the fallout from U.S.-China trade tensions and a potential economic slowdown following a decade of global growth, Clarke said.“You’re seeing a slowdown in economic activity in China, and it’s probably a fair guess to say that that starts to impact North America at some point.”(THE CANADIAN PRESS)
New Delhi: The Supreme Court Wednesday refused to further hear the plea of Congress MP Sushmita Dev seeking action against Prime Minister Narendra Modi and BJP President Amit Shah for alleged poll code violations, saying the Election Commission has already decided the complaints.The apex court said it cannot examine the merits of the EC orders, giving clean chits to the BJP leaders, as they gave rise to a fresh cause of action for which another petition has to be filed. Also Read – India gets first tranche of Swiss account details under automatic exchange frameworkSince the EC has decided “rightly” or “wrongly” the pending complaints against the Prime Minister and the BJP President, the merits of the orders can be challenged only by filing a fresh petition, said a bench comprising Chief Justice Ranjan Gogoi and Justice Deepak Gupta. “The petition has become infructuous as the Election Commission has taken decisions on the complaints,” the bench said. Senior advocate A M Singhvi, appearing for Dev, said the additional affidavit has been filed as the apex court had asked her to bring on record EC’s orders giving clean chit to Modi and Shah on complaints of MCC violations over their alleged hate speeches and using armed forces for “political propaganda”.
Behind a career night in 3-point shooting by senior Jon Diebler, the No. 2 Ohio State men’s basketball team remained undefeated as it breezed past Florida Gulf Coast University, 83-55, Wednesday night at the Schottenstein Center. After missing his first two shots, Diebler picked apart FGCU’s zone defense, making nine 3-point shots in a row en route to scoring a career-high 29 points. His nine 3-pointers tied Jay Burson’s OSU single-game record set in 1988. “It’s just one of those nights, I guess,” Diebler said. “It just feels like you can throw the ball in the ocean and it’s going to go in.” The Buckeyes jumped out to an 18-3 lead with 11 minutes remaining in the first half and never looked back. Freshman guard Jordan Sibert assisted a one-handed dunk by classmate Lenzelle Smith for the final score of the half, bringing OSU’s lead to 42-16 at intermission. The Eagles didn’t help their cause, committing 16 first-half turnovers against a disciplined OSU defense that didn’t allow a free throw during the game’s first 16 minutes. The Buckeyes also collected 11 offensive rebounds in the first half. After committing three first-half turnovers, the Buckeyes got off to a sloppy start in the second half, doubling their turnover total in the first five minutes. The Eagles took advantage of the Buckeyes’ mistakes, doubling their own point total within the first eight minutes of the second half. “You’re ultimately striving for 40 minutes of great basketball,” said OSU coach Thad Matta. “A lot of times, you need a hard lesson to get that across.” FGCU cut the Buckeyes’ lead to 19 with less than 11 minutes remaining in the game. But Diebler fired back on the next possession with his seventh 3-pointer of the game, stretching OSU’s lead to 57-35 and sparking a second-half scoring streak for the Buckeyes, who led by as many as 33 points. Freshman Jared Sullinger scored 11 points and grabbed three rebounds despite playing just nine minutes in the first half because of foul trouble. Junior William Buford added a season-high 17 points, becoming the 47th Buckeye to score 1,000 points in a career. Diebler and senior David Lighty also have achieved that milestone. “It’s a real honor,” Buford said. “To look in the books before the game and see the people did reach 1,000. They were the greats at Ohio State.” The Buckeyes return to action Saturday when they host South Carolina, their final non-conference opponent from a major conference.
Liverpool’s ability to focus on games as they come has been their biggest strength this campaign according to James Milner.Klopp’s men are the only unbeaten side in the Premier League after 17 rounds of matches and could further strengthen their grip at the stop when they face Wolverhampton Wanderers on Friday night.The messages continually coming from the dressing room according to Milner state that the players are not looking any further ahead than their next game.“A big strength of this group is how we’ve improved over the last few years but also how we stay in the present and focus on each game,” the midfielder disclosed to the club’s media.Top 5 Premier League players to watch for next weekend Tomás Pavel Ibarra Meda – September 11, 2019 With the international activity cooling down for the next month, we go back to the Premier League’s Top 5 players to watch this weekend.After…“We know how good the teams are in the Premier League and how tough it is to win every game.“[The title] is a special achievement and one we’re obviously hoping to get to but it’s a long way to go and we’re coming up against a lot of good teams.“As a group, we just want to concentrate on playing as well as we can and keep on improving.”
Proposition No. 1General Obligation Bonds to Pay the Local Required Match Portion of the Costs of the Kachemak-Selo New K-12 School (to be voted on by all voters) The proposed new area of the Central Kenai Peninsula Hospital Service Area as should “the common boundary line between the Central Kenai Peninsula Hospital Service Area and the South Kenai Peninsula Hospital Service Area be moved south by about 15 miles to Barbara Drive in Ninilchik?” Proposition No. 3Expanding the South Kenai Peninsula Hospital Service Area to Include the Land South of Kachemak Bay Excluding the City of Seldovia (to be voted on by voters in the South Kenai Peninsula Hospital Service Area and the new proposed area) The proposed new southern area of the South Kenai Peninsula Hospital Service Area will be asked “shall the southern boundary line of the South Kenai Peninsula Hospital Service Area around Kachemak Bay be moved south?” Proposition No. 2Amending the Code to Move the Common Boundary Between the Central Kenai Peninsula Hospital Service Area and the South Kenai Peninsula Hospital Service Area (to be voted on by voters in the Central Kenai Peninsula Hospital Service Area and the Proposed new Area) To required match for the borough is a $5,450,000 issuance bond for the Kenai Peninsula Borough to pay the local required match portion of the costs of ohe Kachemak-Selo new K-12 School construction project. Facebook0TwitterEmailPrintFriendly分享There are three propositions that will be on the upcoming ballot for residents of the Kenai Peninsula for the municipal election on October 2.