Port Metro Vancouver Sees Jump in Cargo Volume
VANCOUVER, BC – The amount of cargo moving through Canada’s largest port shows continued growth in trade through the Pacific gateway.
Total cargo handled at Port Metro Vancouver was 70.3 million metric tons in the first half of 2015, an increase of 1.5 percent over the same period in 2014, according to newly released figures.
Trade using containers showed substantial growth, with an 8 percent jump in the number of 20-foot equivalent units (TEUs).
Continued growth in container numbers on the west coast of Canada has been projected for some time, but this higher than expected jump is likely due to the impact of U.S. cargo diverted to Vancouver earlier this year in response to labor unrest at U.S. west coast ports, according to the port, and with deflated results last year due to the 28-day Vancouver trucking dispute in March 2014.
“We are seeing continued growth of trade through Port Metro Vancouver as Canadian demand for foreign products and international demand for Canadian resources continue to increase,” said Robin Silvester, president and CEO, Port Metro Vancouver. “Our status as North America’s most diversified port is significant as overall cargo grew in the first half of 2015 despite some softening markets and global economic uncertainty.”
Increases in wheat, sulphur, potash, lumber and consumer goods boosted results, while declines were registered in coal and petroleum products. Movements of breakbulk and bulk dry cargo rose 2 percent and 1 percent, respectively.
Auto volumes rebounded in the first half of 2015, up 7 percent, as Canadian demand for vehicles from Asia increased and North American manufacturers struggled to manage growth and shifts in the Canadian market so far this year, according to the port.
Port Metro Vancouver reportedly handles one fifth of the value of Canada’s total trade in goods.
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