(Source: S&P Global Platts, April 27, 2020)
HOUSTON — Canadian National railroad reported a record level of coal shipments in March, along with strong revenues in the first quarter, executives said Monday. Not only did CN move all-time records for coal in March, but “[Teck Resources] is on track to start shipping in April 2021, and if marketing conditions remain favorable, we could see Coalspur continue to ramp up production, which will position us to move record coal volumes in 2021,” CEO Jean-Jacques Ruest said on the call. Although conditions look brighter for CN in Canada, “US coal might get worse from here,” Ruest said, along with other sectors in the energy market.
Full story: S&P Global Platts