By Stephen Nakrosis

Canadian Pacific Railway Ltd. on Monday said it entered a strategic, multi-year rail agreement with A.P. Moller-Maersk to move freight through the ports of Montreal and Vancouver.

The railroad company said the agreement furthers its Sept. 15 announcement concerning construction of a new transload and distribution facility in Vancouver.

"The strategic relationship is expected to result in CP moving Maersk traffic on March 1, 2021 and applies to both dry and refrigerated cargo," the railroad said.

Keith Creel, Canadian Pacific's president and chief executive, said, "Today's news coupled with the announcement of the Vancouver transload facility back in September are evidence of the power of our operating model, our people and of our shared commitment to sustainable growth."

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

October 19, 2020 17:06 ET (21:06 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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