MONTREAL, Nov. 08, 2023 (GLOBE NEWSWIRE) — CN (TSX: CNR) (NYSE: CNI) today announced that it signed a memorandum of understanding (MOU) with the Mississippi State Port Authority at Gulfport and Ports America establishing a new intermodal service. The trial run of the service will launch in the coming weeks.
“We are proud to be partnering with the Mississippi State Port Authority at Gulfport and Ports America to launch this new service. It will provide shippers with new Ocean connectivity options to move goods between the Gulf Coast, US Midwest and Canada. By working collaboratively with partners, CN will continue to maximize the use of its capacity in its southern network to accelerate sustainable, profitable growth.”
- Dan Bresolin, Vice President of Intermodal, CN
“This agreement is a great source of pride for us at Ports America. By leveraging CN’s incredible reach and network into different points in North America, we will be offering our customers direct access to new markets and opportunities for business. This represents a significant step forward in our commitment to delivering world-class service to our customers and creating value for our stakeholders. We are excited to work with the Port of Gulfport and CN to provide seamless and efficient transportation solutions that will drive growth and strengthen our inland systems.”
- Rob Kusiciel, EVP and Chief Commercial Officer at Ports America
“We are very excited to expand our relationship with Ports America to include CN. This will further enable us to leverage our strategic advantages here at the Port of Gulfport. With CN being the industry leader in refrigerated service and the Port of Gulfport being one of the largest importers of green fruit in the U.S., we see this as a natural fit with great potential.”
- Jon Nass, Executive Director and CEO at the Port of Gulfport
The goals of the MOU include identification & development of a best practices vision through productivity improvements for the supply chain, and the collaboration in implementing those supply chain improvements to leverage & increase market share.
CN is a world-class transportation leader and trade enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. CN’s network connects Canada’s Eastern and Western coasts with the U.S. South through an 18,600-mile rail network. CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.
About Ports America
Ports America is the largest terminal operator and stevedore in the United States, with operations in more than 33 ports and 70 locations. With over 100 years of experience through predecessor companies, Ports America’s services include container, bulk, breakbulk, military and project cargo; world-class cruise terminals; intermodal facilities; maintenance and repair; and state-of-the-art auto/RoRo operations. Ports America provides clients with a distinct competitive advantage with the expertise to manage all types of cargo and the resourcefulness to serve as a trusted logistics solutions provider.
CN Forward-looking Statements
Certain statements by CN included in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws. By their nature, forward-looking statements involve risks, uncertainties and assumptions. CN 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. Forward-looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other similar words. Forward-looking statements reflect information as of the date on which they are made. 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 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 matters, or any other forward-looking statement. 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 and available on CN’s website, for a description of major risk factors.
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