OmniTRAX

November 02, 2005 13:24 ET

Port of Churchill Ends 2005 Season; Some 460,000 Tonnes of Wheat, Durum, and Other Grains through the Port of Churchill in 2005

WINNIPEG, Manitoba and DENVER--(CCNMatthews - Nov 2, 2005) -

OmniTRAX

-- The Port Generated 100% More non-Wheat Board-Controlled Tonnage in 2005 than 2004; Port also Handled Gasoline, Diesel Fuel and Jet Fuel, as well as Consumer Goods Destined for Nunavut

-- Working with CGDC (Churchill Gateway Development Corporation) in Team Effort to Diversify Churchill Import and Export Opportunities in the Future

With the sailing of the MV Theotokos on October 29, 2005, loaded with 37,000 tonnes of wheat to Sudan, the Port of Churchill ended its 2005 season. The Hudson Bay Port Company handled 460,000 tonnes of wheat, durum, and other grains through the Port of Churchill this season. A total of 15 ships called at Churchill to load grain for export during this season. In addition, the port handled gasoline, diesel fuel, and jet fuel, as well as consumer goods destined for Nunavut.

Mike Ogborn, Managing Director of OmniTRAX Canada, the owner of the Port, said: "Even considering the low carryover of crops from 2004, that led to a slow startup for the Port in 2005; we were disappointed that the tonnage figures came in lower than we forecasted in early 2005. The good news, however, is that because of the size of the crop in 2005, there should be a significant tonnage available to move through Churchill in the early part of our season in 2006."

The Port was able to generate 100% more non-Wheat Board-controlled tonnage this year compared to last year. "The tonnage shipped by the Wheat Board this year was slightly less than the Board shipped through Churchill last year," Ogborn said, "which is interesting, given the fact that the total amount shipped in export from Canada was higher this year compared to last." The goal of the Port is to ship a minimum of one million tonnes of grain through the Port each year. The Hudson Bay Port Company is working closely with the Wheat Board and other non-Board shippers to reach that goal.

In addition, OmniTRAX Canada is working closely with the Churchill Gateway Development Corp. -- a public/private marketing company supported by OmniTRAX Canada, the Province of Manitoba, and Western Economic Diversification -- to attract new and different commodities through the Port, to increase volumes, and to bring products into Canada and the U.S. through the Port. Bill Drew, Executive Director of the Churchill Gateway Development Corp., said, "We have made some significant inroads in securing movements of bulk products from overseas through Churchill and believe there are opportunities to accomplish the goal of bringing products through the Port in the future." In addition, he said, "A number of shippers in Canada have contacted us about shipping products other than grain through the Port, and many of those types of movements look positive for the future, too."

About OmniTRAX

An affiliate of The Broe Companies (www.broe.com), OmniTRAX is the largest privately held rail services company in North America. With its headquarters in Denver, Colorado, OmniTRAX owns and operates 18 short-line railroads across the U.S. and Canada. OmniTRAX also owns and operates the Port of Churchill, Manitoba. Additionally, OmniTRAX provides intermodal terminal services to Class I railways through its Quality Terminal Services subsidiary, provides customized private switching services for major industrial complexes through its OmniTRAX Switching Services subsidiary, and provides locomotive maintenance services to Class I railways through its OmniTRAX Locomotive Services subsidiary. Learn more about OmniTRAX at www.omnitrax.com.

About The Broe Companies

Founded in 1972, The Broe Companies is an international investment, acquisition, and operational enterprise headquartered in Denver, Colorado. The company is involved in an expanding and diverse array of businesses and industries, including: Transportation, featuring OmniTRAX, the largest private rail and rail-related operation in North America; Strategic Capital, including McKinley Medical, a global supplier of innovative drug-infusion systems; Real Estate, incorporating the ownership and operation of premier office, industrial, and multi-family properties throughout North America; Aspen Retirement Communities, which owns and operates independent and assisted-living communities across the United States, with eight communities and nearly 1,400 units; and Energy, including Century Coal and Great Western Oil and Gas Company.

Broe seeks to engage with qualified business people to discuss possible acquisition of, investment in, or operational affiliation with a company or other assets. Visit us on the Web at www.broe.com.

Contact Information

  • The Broe Companies for OmniTRAX
    Michael Burke, 303-398-0423
    Sr. VP Corporate Marketing-Communications
    E-mail: mburke@broe.com