Canadian Pacific and Yang Ming Sign Long-Term Agreement to Connect Yang Ming’s Customers With North American Markets

Canadian Pacific Railway Limited (“CP”) and Yang Ming Marine Transport Corporation (“Yang Ming”) announced a three-year agreement to safely and efficiently connect Yang Ming customers with North America, via the Port of Vancouver. “On behalf of the 13,000-strong CP family, I would like to offer a warm welcome to Yang Ming,” said CP President and CEO Keith Creel. “We are proud to be selected as Yang Ming’s Canadian rail carrier, and we look forward to a long and successful relationship. This agreement is a testament to our service, to our network capacity and room to grow at our inland terminals and to the tireless work we put in to understand our customers and create win-win solutions for the supply chain and the broader economy.”

Effective January 1, 2020, CP will handle all of Yang Ming’s Vancouver traffic. The agreement also provides synergies across THE Alliance, as Hapag-Lloyd, Ocean Network Express (“ONE”) and Yang Ming will now be moving, in whole or in part, on CP out of Canada’s largest and most important ocean terminal, Global Container Terminal’s (“GCT”) Deltaport.

With CP’s growing network of transload facilities, its innovative live-lift operation at Portal, North Dakota, and the fastest transit times between Vancouver and the Twin Cities, Chicago and beyond, Yang Ming is well positioned to connect with its key customers across North America.

With the Deltaport Rail Expansion Project now complete, CP and its customers will continue to benefit from increased capacity and production. Since 2016, CP has steadily increased its market share at Deltaport and will now become the largest rail provider at Canada’s premier ocean terminal. CP’s intermodal franchise has the lowest on-dock dwell and best on-time performance at the Port of Vancouver, ensuring faster end-to-end transits for shippers.

About Canadian Pacific

Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of CP.

Contact:

Chris De Bruyn – Director Investor Relations – investor@cpr.ca – (403) 319-3591

Source: Canadian Pacific Railway Limited