CMQ : CP Takes The Prize, Acquires All CMQ Lines

Canadian Pacific Completes its Coast-To-Coast Objective by Acquiring Entirety of Central Maine & Quebec Rail Assets from Fortress Transportation & Infrastructure (FTAI).

20 November, Bangor ME – CP will acquire 481 miles of track and facilities spanning from St. Jean QC to Searsport ME, and connecting tails to Newport VT (interchange with VRS) and Millinocket ME (interchange with NBM). CP will also gain direct interchanges with PAR at Hermon ME, and SLQ/SLR at Sherbrooke QC.

The transaction is expected to close by the end of 2019, which will round out FTAI’s ownership of CMQ at 5 1/2 years. It is assumed that they made a profit. CMQ came into being when FTAI acquired certain assets and assumed certain liabilities of the Montreal, Maine & Atlantic Railroad (MM&A).

Most critically, CP gains a captive Atlantic port at Searsport ME, as well as closer access to Port St. John NB at Brownsville Jct., where CP will interchange directly with the J.D. Irving New Brunswick & Maine system.

CMQ’s assets fit perfectly with CP, giving the Class I a captive Atlantic port, improving its access to one of the region’s major international ports, and adding direct interchanges with the region’s major Class II player (PAR), and the G&W and VRS networks. Not included in the sale is the year-old Katahdin Railcar Services (KRS) tank cleaning operation located in the Derby shops KRS will be retained by FTAI.

While Port St. John is capable of berthing ultramax container ships, Searsport possesses numerous assets, and is a major energy hub with its partners J.D. Irving Co. and Sprague Energy.

Searsport assets and features:

Dry Cargo Pier

  • 100’ x 560’ working surface
  • Deck Load Capacity 1,000 psf
  • Berth #1 800+ feet long, -40’ MLW
  • Berth #2 800+ feet long, -32’ MLW

Liquid Cargo Pier

  • Multi Purpose Hose Platform
  • Berth #1 700+ feet long, -37’ MLW
  • Berth #2 500+ feet long, -25’ MLW

Storage Areas

  • 6 million barrel active tank
  • truck and rail loading racks
  • 5 Paved Storage pads
  • truck and rail access
  • 90,000 sq. ft. warehouse(under development)
  • truck and rail access
  • 70+ acres for development

Intermodal Truck to Rail Facility

Over 6,500 feet of on-site rail siding interconnected with Canadian Pacific, Canadian National, Pan Am, NBS Railways and Central Maine and Quebec Railway

Tidal Range 10 feet

Approach Channel and Turning Basin -35’ MLW

{www.maineports.com/searsport }

The Sparague Energy Terminal ads additional assets and markets:

Fuel

Services

  • Ship Bunkering (ex truck)
  • Rail Car Switching

Materials Handling Services

  • Dry Bulk
  • Break Bulk
  • Heavy Lift
  • Liquid Bulk Storage

Offerings

  • Dry Bulk Pad Storage
  • Heated Tank Storage
  • Rail Transload for heavy lifts
  • Trackmobile
  • Ship Loader
  • 140 MT Mobile Harbor Crane
  • 2 Crawler cranes
  • Rail Bottom Dump Conveyor (coming soon)

Dock

  • 700′ LOA
  • 106′ Beam
  • Designed depth of 36′
  • 58,000 DWT
  • 340′ BCM

Cargo Dock

  • 750′ LOA
  • Designed depth of 40′

106′ Beam