Calgary, AB – 21.October –It has been no secret that Canadian Pacific has sights set on the two new east coast ports it gained through the Central Maine & Quebec Railway acquisition. While Searsport has been mentioned for the bulk and liquid terminal capacity, CP President and CEO, Keith Creel, expanded upon his goal for the Saint John, NB terminal in an investors conference call on 20.October.
Creel responded to a question regarding the progress of the integration of the CMQ with, “the way I think about the CMQ, I’m extremely bullish about the opportunity that Saint John represents for our customers now, as well as future and for our employees. The innovativeness, the entrepreneurial spirit of the people in Saint John. That port geographically is advantaged by distance from tide water to key markets it will serve. They are in the middle of an investment. Capital expansion going from effectively 200,000 TEU capacity in partnership with CP and with the province and with the key stakeholders. The vision is, by the end of 2022, that’s going to be an 800,000 TEU capacity terminal.”
Creel says that today the terminal is capable of 150,000 TEUs, “which is today and with 800,000, which will be key success enabler getting that from tide water into the markets internal to Canada as well as the U.S. Midwest, it’s compelling. And every other benefit, every other associated revenue stream that’s created as a result of that, it’s an economic lifeline to Saint John, it’s an economic lifeline for growth to fill additional growth for this franchise and a great service offering for our customers.”
He added that during 2021 there will be a steamship flag that is planted in Saint John and that flag will be the prominent basis for the increase from 150,000 to 800,000 TEUs. Creel remains committed to seeing Saint John through as a new east coast hub. “I’ve said this just this year, think of Saint John as the Vancouver of the east, that’s going to be a major gateway. It’s going to be a major gateway in the future for Canada, for Canadian Pacific, for Saint John and for our customers. And it’s something we’re super excited to be a part of and honored and proud to be a part of.”
He hinted at the automotive traffic that is sporadic at this point, increasing in frequency and volume during the next year. Traffic to date has been KIA autos that are destined to the Maritime region.