BC Port Sees Continuing Growth in Cargo Volume
Port Metro Vancouver has released its 2015 mid-year statistics, showing continued growth in trade through the British Columbian port.
Total cargo volume generated at the port reached 70.3 million metric tons, an increase of 1.5 percent over the same period in 2014, according to the latest statistics released by the port.
“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 Port Metro Vancouver President and CEO, Robin Silvester.
The volume of containerized cargo moving through the port showed substantial growth, with an eight percent jump.
Increased volumes in wheat, sulphur, potash, lumber and consumer goods boosted results, while declines were registered in coal and petroleum products. The flow of breakbulk and bulk dry cargo rose two percent and one percent, respectively.
Continued growth in the flow of containers moving through British Columbia has been projected for some time, but this higher-than-expected jump is likely due to the impact of US cargo diverted to Vancouver earlier this year in response to labor unrest at U.S. West Coast ports, and deflated results last year due to the 28-day Vancouver trucking dispute in March 2014.
“The port continues to grow in response to increasing consumer and international demand,” continued the port’s chief executive. “It remains critical that we continue working with government and other stakeholders to build related infrastructure and maintain the supply of available land to support trade and goods movement.”
Auto volumes at the port have also rebounded, climbing 7 percent in the first half of 2015 as the Canadian demand for vehicles from Asia increased and North American manufacturers have struggled to manage growth and shifts in the Canadian auto market so far this year.
“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,” said Silvester.
Port Metro Vancouver is Canada’s largest port, handling one fifth of the value of Canada’s total trade in goods.