Canadian Pacific today announced that the section of the CP main line east of Medicine Hat, AB that has been closed since June 18 is now open to traffic. This follows the reopening of the southern line between Lethbridge, AB and Swift Current, SK.
The one in 100 year rainfall event (one in 500 year event in some locations) that washed out portions of the CP main line in Southeastern Alberta and Southwestern Saskatchewan caused widespread flooding and resulted in the closure of the TransCanada Highway and the declaration of states of emergency in nine municipal jurisdictions.
During the 11 day outage CP utilized both secondary network routes and detour routes on other railways to minimize impacts to domestic and international supply chains. With the resumption of normal traffic routing CP will work closely with its customers and supply chain partners to reschedule and expedite shipments that may have been delayed by the temporary outage.
It is currently estimated that the impact of the main line closure will reduce Q2 earnings per share by 10 to 13 cents. It is also estimated that a majority of the deferred shipments will be moved in Q3.