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First destination from new Istanbul airport to be Northern Cyprus
ISTANBUL: July 14, 2018. According to a report by ...

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Amerijet to adopt indexed fuel surcharge mechanism
MIAMI: July 12, 2018. Amerijet International Airli...

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Private equity firm Cinven to acquire Envirotainer
STOCKHOLM: July 12th, 2018. Envirotainer, a suppli...

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Harren & Partner reacquires offshore construction vessel
BREMEN, Germany: June 11, 2018. Bremen-based shipp...

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CMA CGM gets green light for Ceva investment
BAAR Switzerland: July 11, 2018. CMA CGM has obtai...

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Volumes jump at Brussels
BRUSSELS: June 11, 2018. Brussels Airport recorded...

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K+N adds Santiago to Pharma network
SANTIAGO: July 11, 2018. Kuehne + Nagel has expand...

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Skycell and DuPont form pharma alliance
ZURICH: July 12, 2018. SkyCell, the Swiss-based ma...

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BBC Chartering begins Gulf – Australia breakbulk service
LEER, Germany: July 10, 2018. BBC Chartering has l...

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First destination from new Istanbul airport to be...
Amerijet to adopt indexed fuel surcharge mechanism
Private equity firm Cinven to acquire Envirotainer
Harren & Partner reacquires offshore construction vessel
CMA CGM gets green light for Ceva investment...
Volumes jump at Brussels
K+N adds Santiago to Pharma network
Skycell and DuPont form pharma alliance
BBC Chartering begins Gulf – Australia breakbulk service...

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TORONTO: January 26, 2016. The Canadian National railway (CN) has reported fourth quarter net income of C$941 million on revenue of C$3.16 billion, down one percent on the same period in 2014.

The company also reported its results for 2015 with a 12 percent increase in net income to C$3.5 billion on a four percent increase in revenue of C$12.6 billion.

Free cash flow rose to a record C$2.4 billion from C$2.2 billion the previous year.

CN 1President and CEO Claude Mongeau said: "CN generated strong fourth-quarter and full-year 2015 results despite the weak volume environment. Our solid performance is testament to the strength of CN's franchise and diversified portfolio of businesses.”

Commenting on the outlook for 2016 he added: "Although the economic environment remains challenging, CN will continue to invest in the safety and efficiency of its network, with a 2016 capital investment program of approximately C$2.9 billion, including the negative impact of foreign exchange and increased spending for Positive Train Control technology.”

CN said it increased revenues last year from the automotive sector (16 percent), forest products (13 percent), intermodal (five percent), grain and fertilizers (four percent), and petroleum and chemicals (four percent). Revenues from coal shipments fell 17 percent and metals and minerals three percent during the period.

The rail company said it attributed the increases to the Can$/US$ exchange rate, rising freight rates, “solid” overseas intermodal demand, higher volumes of finished vehicle traffic, and increased shipments of lumber and panels to U.S. markets.

The revenue growth was partially offset by a lower applicable fuel surcharge rate; and decreased shipments of energy-related commodities including crude oil, fracking and drilling pipe, lower volumes of semi-finished steel products and short-haul iron ore, reduced shipments of coal due to weaker North American and global demand, as well as lower U.S. grain exports via the Gulf of Mexico.

Earlier this week CN applied to the Canadian Transportation Agency (CTA) to approve a C$250 million logistics hub to be built in Milton, Ontario. CN said with its intermodal traffic growing solidly since 2005, the terminal would create more inland freight capacity to better connect domestic and global supply chains linking the West and East coasts in Canada.

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