It appears the projected numbers for CN Railway are not what they were hoping, and blockades in the Quinte region are one reason for that.
The Quinte region is an important hub for CN. They have a large passenger terminal and freight switching yard in Belleville. It also intersects with the busiest corridor in Canada, between Toronto/Montreal, and Toronto/Ottawa.
CN has withdrawn their financial projections for the next three years, and the forecast for 2020.
Officials with CNR say it has to do with numerous issues such as COVID-19, but also the rail demonstrations from earlier this year.
Two demonstration sites in Tyendinaga Township garnered national attention, shutting down freight and passenger traffic for weeks. There were several demonstration locations across the country.
Despite the issues, Canadian National Railway hopes for $2.5 billion in free cash flow for the year.
Annually, CN moves $250 billion in goods across Canada, and to and from international ports.
They also transport more than four million people, the majority in the Quebec City – Windsor corridor.
WRITTEN WITH HELP FROM THE CANADIAN PRESS
Trains sitting idle in the Belleville train yard (Photo: Quinte News)
