November 14, 2017 / 4:26 PM / a month ago

Canadian Pacific watching signs of life in crude by rail shipments

MONTREAL, Nov 14 (Reuters) - Canadian Pacific Railway Ltd is watching shipments of crude by rail which are now “coming alive a little bit,” the company’s chief marketing officer told a Toronto transportation conference on Tuesday.

CP, Canada’s second-largest railroad, reported a better-than-expected profit for the third quarter in October on higher shipments of crude oil, coal and potash.

In 2015 Canadian rail companies were forced to slash rates for shipping crude to revive an industry rocked by the rout in global oil prices. (Reporting By Allison Lampert)

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