CN and COSCO Shipping extend partnership

CN reports C$13.8bn in revenues for the full year 2020, showing a 7% decrease Y-o-Y, while operating income decreased by 15%, to C$4.8bn.

COSCO Shipping has chosen CN to be the exclusive rail provider for COSCO Shipping’s discharge at the Ports of Vancouver, Prince Rupert, Montreal, and Halifax to all currently served CN destinations. 

Keith Reardon, senior vice-president of consumer product supply chain at CN said: “This is yet another strategic contract signed recently. By choosing CN to service all inland destinations on the network, COSCO will be well positioned to benefit from a unique tri-coastal access. This new exclusive Canadian partnership further reinforces our relationship and our commitment to providing the best intermodal rail service.” 

According to CN, the company transports more than $190bn worth of goods annually for a wide range of business sectors, ranging from resource products to manufactured products to consumer goods, across a rail network of approximately 20,000 route miles spanning Canada and mid-America.

Source: CN