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Grain to Drive CP Rail's Surging Shipments

Freight sales drove 17% leap in revenues last quarter, fueled by commodities

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Grain could continue to anchor Canadian Pacific Railway Ltd. in 2019 following a record-setting year, with recent federal legislation and higher efficiency likely to bolster revenues amidst a China-U.S. trade battle that could benefit Canadian commodities, railway executives and analysts say.

The Preeceville Progress reports the railway's revenues increased 17% to a record $2.01 billion in the quarter, fuelled by grain, oil and other commodities.

Quarterly revenues for grain rose 7% to a record $453 million.

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