CP and DP World Vancouver sign productivity and performance agreement

DUBAI, UAE and CALGARY, June 23 /CNW/ - Railway company Canadian Pacific (TSX/NYSE: CP) and marine terminal operator DP World Vancouver today announced they have entered an agreement to further improve productivity and performance through Canada's west coast ports.

"This agreement outlines a number of goals and specific actions such that all stakeholders in the supply chain can have measurable accountabilities," said Matt Hoag, CEO DP World Vancouver. "Over time we can measure performance changes, characterize best practices, and work cooperatively toward growth."

DP World Vancouver and CP will coordinate identification of available tools and processes for productivity improvements for railways, terminals, and shipping lines. This will include improved information systems that enhance the visibility and predictability of customer supply and demand.

"This agreement will increase the efficiency and reliability of this major supply chain," said CP President and CEO, Fred Green. "Between 2001 and 2008 collaboration between terminal operators and CP has led to a 229% increase in loaded import containers through Canada's Asia-Pacific Gateway terminals in Vancouver."

Ongoing discussions between DP World Vancouver and CP are opening up additional opportunities for improvement in the performance of the supply chain, creating further growth in container traffic through Centerm in Vancouver.

About DP World

DP World is one of the largest marine terminal operators in the world, with 49 terminals and 12 new developments across 31 countries(1). Its dedicated, experienced and professional team of nearly 30,000 people serves customers in some of the most dynamic economies in the world.

DP World aims to enhance customers' supply chain efficiency by effectively managing container, bulk and other terminal cargo.

The company constantly invests in terminal infrastructure, facilities and people, working closely with customers and business partners to provide quality services today and tomorrow, when and where customers need them.

In taking this customer-centric approach, DP World is building on the established relationships and superior level of service demonstrated at its flagship Jebel Ali facility in Dubai, which has been voted "Best Seaport in the Middle East" for 15 consecutive years.

In 2009, DP World handled more than 43.4 million TEU (twenty-foot equivalent container units) across its portfolio from the Americas to Asia. With a pipeline of expansion and development projects in key growth markets, including India, China and the Middle East, capacity is expected to rise to around 95 million TEU over the next ten years.

www.dpworld.com

(1) As of January 2010

About Canadian Pacific:

Canadian Pacific, through the ingenuity of its employees located across Canada and in the United States, remains committed to being the safest, most fluid railway in North America. Our people are the key to delivering innovative transportation solutions to our customers and to ensuring the safe operation of our trains through the more than 1,100 communities where we operate. Come and visit us at www.cpr.ca to see how we can put our ingenuity to work for you.

SOURCE Canadian Pacific

For further information: For further information: Media Inquiries: DP World, Dana Khalaf, Dana.khalaf@dpworld.com, +971 (0) 4 8080887; Canadian Pacific, Mike LoVecchio, Canadian Pacific, 778 772-9636, 416 814-0948 24/7 media pager


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