BRITISH COLUMBIA

Canadian Pacific Rail Vancouver Service: Railway Launches Faster Trains From West To East

09/17/2012 11:26 EDT | Updated 11/17/2012 05:12 EST
Flickr: mayanais
CALGARY - Canadian Pacific Railway says it has launched faster intermodal train service from Vancouver, stripping one day from a 4,200-kilometre trip to Toronto and two days from service to Chicago.

The Calgary-based railway said it has improved the service by reducing dwell times in its terminals and optimizing the use of its assets.

Chief marketing officer Jane O'Hagan said the effort will help its customers be more competitive.

Canadian Pacific (TSX:CP) says the redesign of its transcontinental package and previous investments in its network will give shippers "fast and reliable shipping solutions" to reach existing and emerging North American and international markets.

"This new transcontinental service is part of the evolution at CP as more enhancements are being pilot tested across the network creating further service improvements," it said in a news release.

The change comes nearly three months after Canada's second-largest railway named former rival Hunter Harrison as its new chief executive following a bruising shareholder battle.

Harrison, 67, is the former CEO of Canadian National Railway (TSX:CNR) and is credited with turning CN into one of North America's most successful railways.

New York hedge fund Pershing Square Capital Management became the largest shareholder of Canadian Pacific last year, touching off a bitter months-long battle that resulted in the departure of the railway's chief executive, its chairman and several directors.

On the Toronto Stock Exchange, CP's shares lost $1.12 at $84.10 in morning trading.