Canadian Pacific is alive and kicking but not in ocean-going shipping. You can read about its history and see some photos at http://www.cprheritage.com/ The site links to the home page of the modern company.
.........actually Dave they are ocean-going carriers of......cargo. CP Ships is based in both UK and Bermuda.....but not Canada......never were. Historically their ships were staffed with British officers.......
Digging deeper, I see that in October 2001, CPR was split into five independent companies. One of them is CP Ships. That's why the site I found only has railways. CP Ships is at http://www.cpships.com where there is a sketchy history of the company.
I sailed on a CP ship in 1986, her name was, (Is?) M.V.Fort Nelson. She was under U.K. Registry, as a bulk carrier, her officers were all British , and her crew were Indian.
At the time the officers were feeling under pressure to join a Hong Kong Co. which may or not have been called C.P. (Or anything like it).
Most of the guys I sailed with thought the pressure meant, "move or you ""may"" lose your job". I know for a fact that some ships, at least, moved over to the H.K. Flag, along with some of the Officers I sailed with. At the time there was no mention of any switch to the Bermuda flag, but there again I`m going back to the 80`s and an awful lot of things can & have changed in the last 16 years --- ( Can they ever !!!)