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Ceres gets OK for terminal rail link for oil, grain shipping



Grain elevator and short-line railway operator Ceres Global (CERE +2.4%) says it received approval from U.S. and Canadian federal border agencies to link its Saskatchewan terminal to a rail line operated by Burlington Northern (BRK.A, BRK.B).The move will allow CERE to begin construction on the terminal, which will be able to ship 25K bbl/day of light crude and up to 40M bushels/year of grain once it is fully operational.

CERE plans to ramp up shipments of light crude at the terminal to as much as 70K bbl/day within three years and install a liquefied natural gas pipeline from Saskatchewan refineries.