CHICAGO, IL, Feb. 28, 2013 /CNW Telbec/ - CN (TSX: CNR) (NYSE:
CNI) announced today it will increase shipments of heavy northern
Alberta crude oil through LBC Tank
Terminals' expanded terminal at Sunshine, located within the
Geismar, La., Industrial Complex,
starting in March 2013.
The new service is part of CN's plan to develop new markets for
northern Alberta crude oil on the
east side of the Mississippi River near the Gulf of Mexico. CN is also moving chemicals
from the Chicago area to the LBC
Tank Terminals facility at Geismar, which is home to a large
concentration of petrochemical industries.
Russ Crawford, vice-president,
marketing, Americas, at LBC Tank Terminals, said: "The expansion of
the Sunshine storage capacity by 160,000 barrels, with additional
rail unloading spots, steaming spots and increased storage
capacity, is another step in our long-term global growth program.
It will help us accommodate the rise in customer demand as a
response to the growth in the movement of heavy crude oil and fuel
oil products. CN's service to our facility is a key part of our
growth plan."
LBC Tank Terminals' Sunshine facility is located near two of the
largest heavy crude refineries in Geismar and various pipeline assets and marine
terminals.
Jean-Jacques Ruest, CN executive vice-president and chief
marketing officer, said: "Louisiana terminals on the east shore of the
Mississippi River are a good fit for heavy crudes. CN is the
natural supply chain partner to help connect northern Alberta with desirable markets on the U.S.
Gulf coast.
"CN provides direct, efficient single-line service from northern
Alberta to the Gulf Coast, and we
are pleased to be working with companies such as LBC Tank Terminals
to move heavy crude oil volumes to the Gulf for our customers.
Crude oil by rail is one of CN's fastest growing businesses. We
moved more than 30,000 carloads of crude last year, and we believe
we have the scope to double this business in 2013."
The expansion of the LBC Tank Terminals Geismar facility is
expected to be completed by October
2013 and will eventually result in total storage capacity of
close to three million barrels.
About CN
CN - Canadian National Railway Company and its operating railway
subsidiaries - spans Canada and
mid-America, from the Atlantic and Pacific oceans to the
Gulf of Mexico, serving the ports
of Vancouver, Prince Rupert, B.C., Montreal, Halifax, New
Orleans, and Mobile, Ala.,
and the key metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth,
Minn./Superior, Wis.,
Green Bay, Wis., Minneapolis/St. Paul, Memphis, and Jackson, Miss., with connections to all points
in North America. For more
information on CN, visit the company's website at www.cn.ca.
Forward-Looking Statements
Certain information included in this news release constitutes
"forward-looking statements" within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and under Canadian securities laws.
CN cautions that, by their nature, these forward-looking statements
involve risks, uncertainties and assumptions. The Company
cautions that its assumptions may not materialize and that current
economic conditions render such assumptions, although reasonable at
the time they were made, subject to greater uncertainty. Such
forward-looking statements are not guarantees of future performance
and involve known and unknown risks, uncertainties and other
factors, which may cause the actual results or performance of the
Company or the rail industry to be materially different from the
outlook or any future results or performance implied by such
statements. Important factors that could affect the above
forward-looking statements include, but are not limited to, the
effects of general economic and business conditions, industry
competition, inflation, currency and interest rate fluctuations,
changes in fuel prices, legislative and/or regulatory developments,
compliance with environmental laws and regulations, actions by
regulators, various events which could disrupt operations,
including natural events such as severe weather, droughts, floods
and earthquakes, labor negotiations and disruptions, environmental
claims, uncertainties of investigations, proceedings or other types
of claims and litigation, risks and liabilities arising from
derailments, and other risks detailed from time to time in reports
filed by CN with securities regulators in Canada and the
United States. Reference should be made to "Management's
Discussion and Analysis" in CN's annual and interim reports, Annual
Information Form and Form 40-F filed with Canadian and U.S.
securities regulators, available on CN's website, for a summary of
major risks.
CN assumes no obligation to update or revise
forward-looking statements to reflect future events, changes in
circumstances, or changes in beliefs, unless required by applicable
Canadian securities laws. In the event CN does update any
forward-looking statement, no inference should be made that CN will
make additional updates with respect to that statement, related
matters, or any other forward-looking statement.
About LBC Tank Terminals
Headquartered in Belgium, LBC Tank
Terminals has operations in ARA, U.S. Gulf Coast, China, France, Spain
and Portugal. Business Development
in Asia is supported by its
commercial office based in Singapore.
LBC works with the world's leading petro-chemical producers and
distributors. LBC supports them with tank storage, a range of value
added services and in-depth knowledge of local regulations,
logistics and transport facilities. LBC offers a comprehensive
storage solution, designed to meet the individual needs of our
customers. For more information on LBC, please visit its website at
www.lbctt.com.
SOURCE CN