Canadian National Railway (USA) (NYSE:CNI) Decides To Discontinue Service to Auburn

Boston, MA 08/26/2014 (wallstreetpr) – According to reports, the largest freight railroad or Canada i.e. Canadian National Railway (USA) (NYSE:CNI) is looking forward to ending its services in Maine’s truck-and-rail hub in Auburn. The main reason as per told by the representatives of CNI behind discontinuing services is but the insufficient volume of freight in the state.

CNI is a 35 acre terminal that opened twenty years ago. It connects Canadian National Railway (USA) (NYSE:CNI) with Maine shippers.

Importance of Auburn Terminal:

The terminal of Auburn has reach stackers or large-lift vehicles which pick up containers off truck chassis easily and then place them on flatbed rail cars with 100% safety. It works as a savior for those companies that do not have direct access to rail as they can ship freight on trains without any problem.

Who will be affected most by this step of CNI:

As per the market data, L.L.Bean in Freeport will be affected most by this step of Canadian National Railway (USA) (NYSE:CNI). It uses Auburn facility to receive a significant amount of freight from Asia; therefore discontinuation of services will affect it badly. According to Carolyn Beem, one of the spokeswomen of L.L.Bean, “We are looking after this matter very closely and trying to find another way to receive our freight.” Although she indicated that L.L.Bean had an alternative plan in place if the situation failed to improve.

When reporters tried to get in touch with the management of CNI, none other than the Director of public and government affairs came forward to answer all the questions. Jim Feeny said, “Traffic volumes in Auburn Intermodal Terminal are not enough to sustain; hence, Canadian National Railway (USA) (NYSE:CNI) is going to terminate its services from there.”

Although the main railway terminal will shut, but the center will remain open. It has a 157 miles long short-line railroad which starts from the suburbs of Montreal and goes till Portland’s East Deering neighborhood.

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Published by Steve Hackney

Steve Hackney is a corporate finance professional with over 14 years of experience in cash management and investing. He earned a Bachelor of Science in Finance from Florida State University and holds a Certified Treasury Professional certification. Steve lives in Orlando, Florida with his family.