Canada potash rail shipments down 50% in Q3 - rail exec

22 September 2009 20:48  [Source: ICIS news]

HOUSTON (ICIS news)--Potash rail shipments out of western Canada are down 50% in the third quarter, a major railroad executive said on Tuesday.

Potash shipping volumes have improved over the summer but were still running well below prior-year levels, Canadian Pacific Railway (CP) CEO Fred Green said at an investor conference hosted by the Canadian Imperial Bank of Commerce.

The potash business will come back, but it is unclear when that will be, Green said.

When it comes back, it will come back hard, he said.

CP has the capacity to haul 1m tonnes/month of potash, but in April this year, it hauled just 41,000 tonnes, Green said.

CP is the exclusive hauler of potash for Canpotex, which is the export marketing agency for potash producers Potash Corporation of Saskatchewan (PotashCorp), Agrium and Mosaic.

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By: Frank Zaworski
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