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Nov 14, 2017

Crude by rail shipments 'coming alive': CP

The Canadian Pacific railyard is pictured in Port Coquitlam, B.C. February 15, 2015

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MONTREAL - Canadian Pacific Railway Ltd (CP.TO) is watching shipments of crude by rail which are now "coming alive a little bit," the company's chief marketing officer told a Toronto transportation conference on Tuesday.

CP, Canada's second-largest railroad, reported a better-than-expected profit for the third quarter in October on higher shipments of crude oil, coal and potash.

In 2015 Canadian rail companies were forced to slash rates for shipping crude to revive an industry rocked by the rout in global oil prices.