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Despite economic slowdown, Port Metro Vancouver continues to grow

VANCOUVER, B.C. – Port Metro Vancouver released its 2015 year-end statistics revealing a third consecutive year of strong cargo volumes and records set in the container, potash, grain and agriculture product sectors.

Increased trade with Asia accounted for the continued growth in cargo shipped in containers, with a 5% jump in units for a record of 3.1 million twenty-foot-equivalent units, or TEUs.

Grain and agriculture product exports increased by 8% and potash was up 15.6% from the prior year.

“These strong and consistent cargo volumes through Port Metro Vancouver demonstrate the diversification of the port and the Canadian economy,” said Robin Silvester, president and CEO of Port Metro Vancouver. “The many terminals throughout the port have done a remarkable job of facilitating Canada’s trade.”

Port Metro Vancouver is Canada’s largest port and accommodates a diversified list of cargo, which aids in the port’s growth, even during economic downturns.

“As Canada’s largest port, Port Metro Vancouver is a leading example of how to operate a global port with respect for the environment, marine safety and security,” said the Honorable Marc Garneau, federal minister of transport. “It continues to play a critical role in Canada’s economy – importing goods from around the world and exporting Canada’s resources to critical international markets – while also working with local communities and promoting environmentally sustainable operations.”

Declines were seen in breakbulk metal imports during the second half of 2015, but the year remained the second highest for metals on record with 1.4 million metric tonnes.

“In the last five years, the port has grown by the equivalent of the annual volume of Canada’s second largest port – the Port of Montreal,” continued Silvester. “And we anticipate that growth to continue at about the same rate over the next five years, despite the current slow-down.”

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