Agreement aimed at improving customer service and container throughput at Vancouver's Centerm Terminal
VANCOUVER and MONTREAL, Sept. 16 /CNW Telbec/ - CN (TSX: CNR) (NYSE:CNI) and DP World, operators of the Centerm Terminal in Vancouver, announced today the signing of a comprehensive Service-Level Agreement designed to further enhance the competitiveness of Canada's Pacific Gateway and improve services for customers. The agreement ensures best practices are followed to improve productivity with the aim of increasing market share.
This agreement follows other recent CN supply chain collaboration agreements with ports on both the west and east coasts of Canada - part of CN's continuing drive to promote balanced accountability among all port stakeholders.
The CN-DP World Service-Level Agreement will ensure that best practice technology is utilized where appropriate to meet the common goals of the parties. The two parties hope these objectives are achieved through commercial means that avoid unnecessary regulation or government intervention. CN and DP World will work closely on all matters related to security, in coordination with the relevant government agencies, with the goal of branding Centerm Terminal in Vancouver as a secure point of entry to North America.
Claude Mongeau, president and chief executive officer of CN, said: "DP World is an important, strategic partner of CN and this innovative Service-Level Agreement will lead to increased collaboration and information-sharing in order to make one of the country's busiest gateways even more efficient."
Matthew Hoag, general manager of DP World Vancouver, said: "We are pleased to be working even more closely with CN to help improve productivity. Sharing best practices is key to the overall improvement of intermodal transportation and more efficient supply chains for customers."
To achieve the goals and take advantage of solid growth opportunities in Asia/North America trade, the parties agree to establish working subcommittees with senior, fully engaged personnel to coordinate operational issues, communications between the parties and other stakeholders, as well as commercial and business matters.
About DP World
DP World is one of the largest marine terminal operators in the world, with 50 terminals and 11 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, depending on market demand. http://www.dpworld.com
(1) As of January 2010
About CN
CN - Canadian National Railway Company and its operating railway subsidiaries - spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico, serving the ports of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New Orleans, and Mobile, Ala., and the key metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth, Minn./Superior, Wis., Green Bay, Wis., Minneapolis/St. Paul, Memphis, St. Louis, and Jackson, Miss., with connections to all points in North America. For more information on CN, visit the company's website at www.cn.ca.
Forward-Looking Statements
Certain information included in this news release constitutes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws. CN cautions that, by their nature, these forward-looking statements involve risks, uncertainties and assumptions. The Company cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results of performance of the Company or the rail industry to be materially different from the outlook or any future results or performance implied by such statements. Important factors that could affect the above forward-looking statements include, but are not limited to, the effects of general economic and business conditions, industry competition, inflation, currency and interest rate fluctuations, changes in fuel prices, legislative and/or regulatory developments, compliance with environmental laws and regulations, actions by regulators, various events which could disrupt operations, including natural events such as severe weather, droughts, floods and earthquakes, labor negotiations and disruptions, environmental claims, uncertainties of investigations, proceedings or other types of claims and litigation, risks and liabilities arising from derailments, and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should be made to "Management's Discussion and Analysis" in CN's annual and interim reports, Annual Information Form and Form 40-F filed with Canadian and U.S. securities regulators, available on CN's website, for a summary of major risks. CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable Canadian securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related maters, or any other forward-looking statement.
