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Canadian Pacific and Hapag-Lloyd AG today announced they have extended their long-term rail service agreement to the end of 2025.
Additionally, Hapag-Lloyd — CP's largest customer by volume — will begin regular service via CP and Port Saint John, New Brunswick, in 2021.
"It's through our network reach and disciplined execution of the precision scheduled railroading model that we can offer a caliber of service capable of winning our customers' support in this way," said CP President and Chief Executive Officer Keith Creel in a press release. "With our expanded reach to the deepwater port at Saint John, we are proud to offer Hapag-Lloyd another reason to use our services."
The Class I regained access to the port in June with the acquisition of the Central Maine & Quebec Railway, and through connections with the Eastern Maine and New Brunswick Southern railways.
"The return of CP was a transformational development for our region," said New Brunswick Premier Blaine Higgs. "This agreement with Hapag-Lloyd is another critical step for our province. Port Saint John offers a competitive advantage, and this will lead to more jobs and more investment in New Brunswick."
CP also serves Hapag-Lloyd through ports in Montreal and Vancouver, British Columbia.