Montreal, Canada-based Class I railway Canadian National saw net income for the third quarter of 2016 fall 2.9 percent to C$972 million (U.S. $727.6 million) on revenues that slid 6 percent to C$3.01 billion compared with the same 2015 period.
The public-private partnership is aimed at increasing the height of the Howard St. Tunnel so two containers can be loaded onto intermodal cars, making it more efficient for traffic moving to and from the Port of Baltimore.
Trucking and intermodal carrier Swift Transportation grew net income 4.7 percent year-over-year to $38 million in third quarter 2016 on revenues that slipped 4.9 percent to $1.01 billion compared with the same 2015 period.
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The mid-Atlantic port is moving quickly to make large strategic investments in marine and inland terminals after years of relative neglect.
The Port of Montreal has plans for a new terminal in Contrecoeur, while DP World signed a lease in July to expand and operate the Rodney container terminal in Saint John, and new container terminals are proposed in Melford and Sydney.
Atlantic Forest Products, a wholesale distributor of building materials, has signed a long-term lease at Tradepoint Atlantic, a 3,100-acre multimodal industrial site in Baltimore.