Canadian Pacific Kansas City (CP) and Knight-Swift Transportation Holdings (KNX) announced a new multi-year agreement to provide truckload intermodal transportation service on CPKC’s new single-line north-south corridor connecting Mexico, the United States and Canada. Knight-Swift is one of North America’s largest and most diversified freight transportation companies, providing multiple truckload transportation and logistics services. Knight-Swift’s established Mexico customer base will be able to leverage CPKC’s broad network of rail lines, terminals, and cross-border efficiency and expertise to improve service reliability and competitiveness. Anticipated environmental benefits of CPKC include the avoidance of more than 1.6M tons of greenhouse gas emissions due to the expected improved operational efficiency of CPKC versus current operations and another 300,000 tons of GHG emissions with the diversion of 64,000 trucks to rail for a total reduction of 1.9M tons of GHG emissions over the next five years.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on CP:
- Canadian Pacific Kansas City signs multi-year agreement with Schneider
- North American rail traffic down 3.6% for the week ending April 15
- Canadian Pacific Kansas City price target lowered to $75 from $78 at Stifel
- Canadian Pacific Kansas City resumed with an Outperform at BMO Capital
- Canadian Pacific price target raised to C$107 from C$106 at National Bank