CP rates up

CP rates up

Copyright 2003, Traffic World, Inc.

Canadian Pacific Railway is raising rates 4 percent effective Nov. 1. The increase will apply to roughly 80 percent of the railroad''s freight tariffs excluding grain, which is managed under a separate tariff program.

"The increase is part of the normal annual price review cycle in our business," according to a CP spokesman. "In conducting this review, we assessed business considerations, the health of the economy, competitive matters and recent and future market developments. Taken together, these factors led to a 4 percent freight tariff increase."

Tariffs that were increased by less than 4 percent earlier this year and that are covered by the current program will be subject to an adjustment on Nov. 1 to bring them to 4 percent as well, CP said.