CALGARY, Dec. 11, 2012 /CNW/ - Canadian Pacific (TSX:CP)(NYSE: CP) today
commented on the federal government's Rail Freight Service Review
(RFSR) amendment to the Canadian Transportation Act.
Throughout the RSR process CP has maintained there is no need for
additional regulation between railways and shippers as it is the
company's belief that commercial undertakings, coupled with a stable
regulatory regime, remains the best approach to promote supply chain
coordination and investment.
"The proposed legislation contains key elements of the Dinning Report,"
said CP President and CEO, E. Hunter Harrison. "We firmly agree that
improvement in Canada's world class rail supply chain will best be
achieved through offsetting commercial undertakings, in particular,
better traffic forecasting and more certainty on traffic volumes."
"CP has been implementing various commercial agreements that were
included in the Dinning Report's recommendations, including a service
agreement template and a commercial dispute resolution process," said
Harrison. "As such, we are confident strong commercial relationships
will continue to emerge with little need for the processes described in
"Canada is fortunate to already have the best rail system in the world
from which to build upon," said Harrison. "CP continues to make
across-the-board service improvements where customers are benefiting
from more consistent, safe and efficient service."
About Canadian Pacific
Canadian Pacific (TSX:CP)(NYSE: CP) is a transcontinental railway in
Canada and the United States with direct links to eight major ports,
including Vancouver and Montreal, providing North American customers a
competitive rail service with access to key markets in every corner of
the globe. CP is a low-cost provider that 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 Canadian Pacific.
SOURCE: Canadian Pacific
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