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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CANADA
- Two of Canada’s largest railroad companies, Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC), are set to strike from Thursday if no agreement is reached with a union representing more than 9,000 employees.
- The union’s demands have included better wages and benefits, provisions for fatigue management and improved crew scheduling.
- The two operators started a phased shutdown of the network last week, including wheat, chemicals and fertilizer: AP Moller-Maersk said Monday it is no longer accepting shipments for Canada that are too heavy for trucks and US operator Union Pacific has warned of “devastating consequences”.
- CN said despite negotiations over the weekend, the parties remain “very far apart”, whilst CPKC has offered competitive wage increases and work rules that comply with regulatory requirements for rest.
- Canada is the world’s top potash producer and 75% of fertilizer moves by rail (per CEO of Fertilizer Canada).
- Roughly 30% of freight rail operations in Canada cross the US-Canada border annually (per the Association of American Railroads) and in 1H24 rail transport accounted for ~14% of total bilateral trade of $382bn between US-Canada (per the US Dept of Transportation).
- Commuter lines would also be affected including in the Vancouver, Greater Toronto and Montreal areas.
- Some potential cost estimates – key will be whether strikes last longer than a week with non-linear impacts:
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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