CALGARY, AB, Oct. 8, 2020 /CNW/ - Canadian Pacific (TSX:
CP) (NYSE: CP) today announced it has joined TradeLens, a
blockchain-based platform that enables the secure and transparent
transfer of container-shipping documents. This open-API platform
will help CP intermodal shippers create, amend and share documents
with other supply chain participants, including consignees,
beneficial cargo owners, customs agencies, dray operators and
steamship lines.
"CP is pleased to join TradeLens as part of its efforts to
improve the customer experience through technological innovation,"
said CP Vice-President and Chief Information Officer Mike Redeker. "Global shipping is a profoundly
complex business and TradeLens is improving the information-sharing
processes that support the industry. CP is always innovating for
the benefit of its customers, and joining TradeLens is an example
of that innovation."
TradeLens was developed by IBM and A.P. Moller-Maersk
specifically for use in the container-shipping industry. It
currently handles more than 700 million events and 6 million
documents annually. The system integrates with users' in-house
systems via non-proprietary, publicly available APIs designed for
ease of setup and use.
Note on forward-looking information
This news release
contains certain forward-looking information and forward-looking
statements (collectively, "forward-looking information") within the
meaning of applicable securities laws. Forward-looking information
includes, but is not limited to, statements concerning
expectations, beliefs, plans, goals, objectives, assumptions and
statements about possible future events, conditions, and results of
operations or performance. Forward-looking information may contain
statements with words or headings such as "will", "anticipate",
"believe", "expect", "plan", "should" or similar words suggesting
future outcomes.
This news release contains forward-looking information relating,
but not limited to, our operations, priorities and plans, and the
anticipated future benefits to CP's customers of the TradeLens
platform.
The forward-looking information contained in this news release
is based on current expectations of the operability and
functionality of TradeLens, which CP and its intermodal shippers
create, including the ability to amend and share documents with
other supply-chain participants, including consignees, beneficial
cargo owners, customs agencies, dray operators and steamship lines.
Although CP believes the expectations, estimates, projections and
assumptions reflected in the forward-looking information presented
herein are reasonable as of the date of this release, there can be
no assurance that they will prove to be correct. Current
conditions, economic and otherwise, render assumptions, although
reasonable when made, subject to greater uncertainty.
Undue reliance should not be placed on forward-looking
information as actual results may differ materially from those
expressed or implied by forward-looking information. By its nature,
CP's forward-looking information involves inherent risks and
uncertainties that could cause actual results to differ materially
from the forward-looking information including, but not limited to,
the following factors: changes in business strategies; operability
of TradeLens with CP intermodal shippers; ability of customers to
amend and share documents with other supply-chain participants,
including consignees, beneficial cargo owners, customs agencies,
dray operators and steamship lines; changes in laws, regulations
and government policies, including privacy policies; trade
restrictions or other changes to international trade arrangements;
various events that could disrupt operations, including
cybersecurity attacks, as well as security threats and governmental
response to them, and technological changes; and the pandemic
created by the outbreak of the novel strain of coronavirus (and the
disease known as COVID-19) and resulting effects on economic
conditions, the demand environment for logistics requirements and
energy prices, restrictions imposed by public health authorities or
governments, fiscal and monetary policy responses by governments
and financial institutions and disruptions to global supply chains.
The foregoing list of factors is not exhaustive. These and other
factors are detailed from time to time in reports filed by CP with
securities regulators in Canada
and the United States. Reference
should be made to "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations -
Forward-Looking Statements" in CP's annual and interim reports on
Form 10-K and 10-Q.
The forward-looking information contained in this news release
is made as of the date hereof. Except as required by law, CP
undertakes no obligation to update publicly or otherwise revise any
forward-looking information, or the foregoing assumptions and risks
affecting such forward-looking information, whether as a result of
new information, future events or otherwise.
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. CP-IR
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SOURCE Canadian Pacific