Port Metro Vancouver and Canadian Pacific announce productivity and performance agreement

VANCOUVER, Feb. 22 /PRNewswire/ - North American railroad Canadian Pacific (CP: TSX/NYSE) and Port Metro Vancouver (PMV) today announced a collaboration agreement to improve productivity and performance through Canada's Pacific Gateway. The Port and CP believe that greater collaboration and accountability among supply chain partners is the key to more efficient and reliable trade through the Gateway.

This collaboration agreement sets the framework for the Port, CP and port stakeholders to develop mechanisms to define, measure, monitor and evaluate the performance of each participant at the port against established benchmarks. It also establishes processes to proactively communicate on service-related matters and resolve disputes between CP, the Port and port supply chain participants on a commercial basis.

"I am pleased that we were able to work collaboratively with CP on this important agreement," said Robin Silvester, Port Metro Vancouver's President and Chief Executive Officer. "With an emphasis on reciprocal accountability, our agreement will further improve competitiveness and optimize the performance of the Vancouver Gateway."

"This collaboration agreement strengthens our partnership with Port Metro Vancouver in our biggest Gateway, setting the stage for a cross-supply chain collaboration that improves performance and service of the Pacific Gateway," said CP Executive Vice-President and Chief Marketing Officer Jane O'Hagan. "CP strongly believes in the growth opportunities that underpin the Vancouver Gateway."

This is the fourth collaboration agreement announced by Canadian Pacific in the past 12 months. Forty per cent of all the freight traffic moved by Canadian Pacific passes through Port Metro Vancouver. 

About Canadian Pacific:

Canadian Pacific (CP: TSX/NYSE) operates a North American transcontinental railroad providing freight transportation services, logistics solutions and supply chain expertise. Incorporating best-in-class technology and environmental practices, CP is re-defining itself as a modern 21st century transportation company built on safety, service reliability and operational efficiency. Visit cpr.ca and see how Canadian Pacific is Driving the Digital Railway.

About Port Metro Vancouver:

Port Metro Vancouver is Canada's largest and North America's most diversified port, trading $75 billion in goods with more than 160 trading economies annually. Port activities generate 129,500 total jobs across Canada, $10.5 billion in GDP and $22 billion in economic output.

SOURCE Port Metro Vancouver