Railways suffered a sharp drop-off in container shipments this month as the strike by B.C. port workers — now poised to end after a tentative deal Thursday — halted more than half of steel-box cargo.
Canadian National Railway Co.’s revenue ton miles—a key industry metric used to gauge income and freight volume—fell 60 percent in the first week of the job action, according to RBC Dominion Securities analyst Walter Spracklin.
The figure dropped by 45 percent at Canadian Pacific Kansas City Ltd.
The plunge left the number of containers hauled by Canadian railways last week at barely half the level it reached during the same period in 2022, according to the American Railroad Association….