CN Railway reported significant revenue and profit increases this week for the nine-month period ending Sept. 30.
The reports come after shipping companies announced earlier this month a dramatic yearlong comeback from low ore shipments totals in 2009. CN runs the ore docks in Two Harbors and Duluth, hauling taconite pellets and other materials from the Iron Range.
The third-quarter 2010 highlights were reported in Canadian dollars, which are worth about 2 cents more than U.S. dollars:
Net income increased 21 percent to $556 million. "Greater freight volumes in almost all markets reflected the continued recovery in North American and global economies," said Claude Mongeau, president and chief executive officer, in a company statement.
