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MONTREAL and JACKSONVILLE, Fla., Aug. 08, 2019 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) and CSX (NASDAQ: CSX) are pleased to announce a new intermodal service offering between CN’s greater Montreal and Southern Ontario areas, and the CSX-served ports of Philadelphia, New York, New Jersey and the New York City metropolitan area.
“Over the long term, the freight market will increasingly depend on demand driven by the consumer economy and the rail industry must create new intermodal services that can successfully rival the over the road options,” said JJ Ruest, president and chief executive officer at CN. “This interline service fits perfectly with our strategic focus on feeding our unique network through organic and inorganic growth opportunities, including extending our reach into new geographic markets.”
“This new intermodal offering aims to convert long-haul trucks to interline rail services,” explained Keith Reardon, senior vice-president of consumer product supply chain at CN. “Trains will run directly into the heart of the metropolitan markets of Toronto and Montreal via CN intermodal yards, making this partnership a natural opportunity for both railroads.”
“CSX is pleased to work with CN to deliver superior all-rail intermodal service into the Montreal and Toronto markets,” said Jim Foote, president and chief executive officer at CSX. "Answering a need expressed by our customers, this new service positions us to capture market share from trucks and increases capacity in these expedited lanes, as larger container ships call at the Port of Philadelphia and Port of New York and New Jersey.”
Mark Wallace, CSX executive vice president of sales and marketing said, “At CSX, we’re continually evaluating our network to increase efficiency and improve the quality of the service we offer to customers. Offering all-rail intermodal service from the East Coast to Montreal and Toronto aligns with our objectives for providing faster, more efficient service while positioning both CSX and CN for future growth.”
The intermodal service agreement will come into effect on October 7, 2019.
CN is a true backbone of the economy, transporting more than C$250 billion 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. CN – Canadian National Railway Company, along with its operating railway subsidiaries – serves the cities and ports of Vancouver and Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary, Chicago, Memphis, Detroit, Duluth, Minn./Superior, Wis., and Jackson, Miss., with connections to all points in North America. For more information about CN, visit the Company’s website at www.cn.ca.
CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For nearly 200 years, CSX has played a critical role in the United States’ economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation’s population resides. It also links more than 230 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook (http://facebook.com/OfficialCSX) and follow us on Twitter (http://twitter.com/CSX).
|Jonathan Abecassis||Paul Butcher|
|Senior Manager||Vice President|
|Media Relations, CN||Investor Relations, CN|
Corporate Communications, CSX
Head of Investor Relations, CSX