Truck News


Port of Montreal says recession is ending

MONTREAL, Que. -- Montreal's Port boss says he can see the light at the end of these dark economic times.

MONTREAL, Que. — Montreal’s Port boss says he can see the light at the end of these dark economic times.

“Ports normally are a precursor of what’s going to happen,” says Taddeo. “All the ports of the world — New York, Halifax, Rotterdam — have witnessed a decrease.”

Taddeo tells local media the decline in steel shipments for the auto and construction industries cut the Port of Montreal’s 2001 profits in about half from $6 million a year earlier to an estimated $2.5 to $3 million.

He adds Montreal is now seeing benefits from more efficient railway transport that can move containers inland to Chicago within 36 hours. His goal is to reduce the time to 24 hours.

He credits these advancements in part with helping Montreal to secure freight from Mediterranean Shipping Corp., which traditionally called on Halifax.

“They will no longer be dealing with the Port of Halifax to reach Ontario and American markets,” says Taddeo. “They’ve seen the light. The more you go inland on water, the cheaper it is in the long run.”

He also notes there’s no government funding for the Port of Montreal, “Ottawa doesn’t give us a red cent” — despite this, the facility intends to spend nearly $40 million this year on improving its facilities.

Truck News

Truck News

Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry.
All posts by

Print this page
Related Articles

Have your say:

Your email address will not be published. Required fields are marked *