Canadian National Railway Company (CNI)

So a new grain terminal has been proposed for North Vancouver...first new expot terminal in Vancouver for 40 years.

A few points:

1) How can ANY country go 40 years without building a new terminal in its major Pacific shipping port?
CUBA got more done than that.

2) The reaction form locals is, of course, is negative. That it will create "noise pollution". I shi+ you not.
Because Vancouverites are oblivious, myopic, left-wing idiots....at least partly due to a real estate ponzi scheme of an economy that precludes any desire for 'work' or 'jobs'.

3) Canada in general is becoming self-loathing towards natural resources. They wring their hands every day obver climate change, and are willing to commit hare kare while the rest of the world just watches in bemused awe. It's really something.

4) This project is backed by Saudi interests. Because Canada has about as much investing sense, ambition and capital as you might expect of a place that is as socialist, anti-business and as thoroughly infected with the "welfare-state" mentality as Canada is.

The only thing Canada ever dd well was to kill golden geese. (....and it's slim pickens, for the reasons mentioned).
So keep hammering the railways, Marc Garneau....it's your patriotic duty!

CN directors got a big pay raise last year.....a 22% raise across the board.
Combine that 'gift' with the simultaneous ending tying compensation to attending director meetings....wow.

Sounds like a first shift back towards shareholder indifference......where CN used to be when it was a government crony club, and economic black hole.

There is nothing new under the Sun. Just cycles of the same old shi+.

"The company has recently expanded its container shipping business in the ports of New Orleans and Mobile, Ala., in a bid to tap into growing freight volumes flowing through the expanded Panama Canal."

Shhh...NSC & CSX shareholders still think that the new panama canal is their own, exclusive 'ace in the hole'......CN competes with triucks, while US railroads struggle with 21st century business reality.

Maresk is now bulking up and putting lipstick on its energy division to make it attractive enough to spin off as a separate listed company.

Why? Because it's in the same financial shi+ as every other shipping company.

Because there's no freight. D'uh.

NSC and CSX: Waiting for the tide to come in. At a lake.

An interesting backstory on the Hanjin bankruptcy story: nepotism.

The widow of the former chairman of HJ Shipping was appointed to his job after his death in 2007 by the head of HJ Group --- his brother.
Prior to the appointment, she was a housewife.

During the next few years ---- the best years ever in international shipping ----- she "managed" to drive the company into financial trouble, and sold it to Korean Air in 2014.

And with the precipitous drop in global shipping ever since, it recently declared bankruptcy.

Hanjin was first because it didn't build up any financial strength during the boom.
But it certainly won't be the last.

53.3.

Meanwhile, Squires makes his "plans" to get to 65. By 2020. Somehow.

Bwa ha ha hah ah ah.....

News Item: Hanjin Shipping Company of South Korea looks like its headed for bankruptcy, with a stranded ship full of containers anchored limbo in Prince Rupert, complete radio silence with the media.

Probably very disruptive to CN in the near term.

But hey, how would you like to be a banker holding the debt of the companies who levered up to build those Super Panamax ships? Career-ending.

Or worse, the bankers that financed the perfectly awful-timed canal widening project?! Bank-ending.

And NSC and CSX are absolutely counting on all that "volume growth" for their non-coal future....
Bwa ha ha ha ha ha