Growth Forecasts for Pacific Gateway Demonstrated by Strong Mid-Year Cargo Volumes at Port Metro Vancouver

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 27, 2014) - Canada's largest and most diverse port has released its 2014 mid-year cargo volume numbers showing continued growth for Canada's Pacific Gateway. Port Metro Vancouver posted a 3.6 per cent growth in overall tonnage compared to the same period last year, handling more than 69 million tonnes of cargo in the first half of 2014.

"At the mid-point of 2014 we are seeing ongoing growth as Canadian trade continues to increase with both strong demand for Canadian exports and for imports to Canada," said Robin Silvester, President and Chief Executive Officer, Port Metro Vancouver. "Our focus on infrastructure projects that build capacity and maximize supply chain efficiency has been key as we always seek to ensure we balance this growth with the need to protect our environment and respect the quality of life of our neighbours."

Container traffic volumes continued to increase, showing a 4.6 per cent increase over the same period last year, and representing a quick rebound in traffic volumes that were impacted by the 28-day trucking disruption earlier in the year. Total foreign and domestic tonnage at Port Metro Vancouver both posted more than three per cent growth, with foreign tonnage at 54.6 million tonnes, and domestic at 14.5 million tonnes.

"Our Government remains engaged with our provincial counterparts in British Columbia to continue to collaborate and ensure the smooth flow of goods at Port Metro Vancouver," said the Honourable Lisa Raitt, Minister of Transport. "The continued growth shown by this report is yet another testament to the success and importance of the ongoing infrastructure investments in achieving stable and efficient port operations"

Breakbulk and bulk volumes maintained overall growth at 1.4 per cent and 4.6 per cent respectively.

"Strong growth at Port Metro Vancouver reminds us of the ongoing success of the Pacific Gateway Strategy, and British Columbia's pivotal role in the gateway," said the Honourable Todd Stone, Minister of Transportation and Infrastructure. "Port Metro Vancouver is a key enabler of British Columbia's economy, supporting more than 76,000 jobs across the province."

Port Metro Vancouver received widespread recognition for environmental stewardship and sustainability in the first half of 2014, receiving an endorsement by Sir Richard Branson's Carbon War Room and spots on both Aon Hewitt's Canadian Green 30 list and Future 40 by Corporate Knights.

About Port Metro Vancouver

Port Metro Vancouver is Canada's largest port and the fourth largest tonnage port in North America, responsible for Canada's trade with more than 160 world economies. Located in a naturally beautiful setting on Canada's west coast, Port Metro Vancouver is responsible for the efficient and reliable movement of goods and passengers, and integrates environmental, social and economic sustainability initiatives into all areas of port operations. Port Metro Vancouver is committed to meaningful engagement with the communities in which it operates and the shared obligation to improve the quality of life for Canadians. Enabling the trade of approximately $184 billion in goods annually, the port generates an estimated 100,000 jobs, $6.1 billion in wages, and $9.7 billion in GDP across Canada. As a non-shareholder, financially self-sufficient corporation established by the Government of Canada, Port Metro Vancouver operates pursuant to the Canada Marine Act, and is accountable to the elected federal Minister of Transport.

More information:

2014 mid-year Cargo Statistics Report

Background:

Auto volumes of 198,788 units represented a 1.2 per cent decline since mid-year 2013. Increasing North American production of automobiles is continuing to impact total vessel imports.

Breakbulk cargo of 8.2 million tonnes represents a slight growth of 1.4 per cent over the same period last year. Imports, led by metals, remain the main driver of growth in this category. A return of breakbulk lumber exports to China, as well as increases in wood pulp exports, have contributed to an increase of 16% for total foreign forest product exports..

Bulk volumes of 48.7 million tonnes represent a 4.6 per cent increase over the 46.5 million tonnes of the same period last year. Coal was up 5.5 per cent. Grain and specialty crops continued to increase, showing a 14.5 per cent growth over the same period last year, due to strong growth in Canola (47.6 per cent), as well as strong growth in Wheat (9.4per cent) due to the record 2012/2013 crop in Canada.

Container traffic volumes continue to increase, posting a 4.6 per cent increase over the same period last year. The recent volume growth represents a quick rebound in traffic volumes that were impacted by the 28-day trucking disruption that ended on March 27, 2014.

Cruise passenger numbers are expected to reach nearly 812,000 passengers in 2014, on par with 2013 numbers.

Infrastructure projects that build capacity, maximize efficiency and density and minimize community impacts on port operations moved forward. Major milestones celebrated in the first half of 2014 include the completion of the Powell Street overpass and South Shore Corridor Project in the South Shore Trade Area, and completion of the 54th Ave, 196th St. and 232nd St. overpasses as part of the Roberts Bank Rail Corridor Project.

Foreign vessel calls were up to 1,585, a 2.5 per cent increase over 1,546 in the same period last year.

Environmental initiatives continued to be a top priority for Port Metro Vancouver in the first half of 2014. Port Metro Vancouver teamed up with Metro Vancouver to improve air quality monitoring on the Burrard inlet, and was recognized in the Future 40 by Corporate Knights. In addition, the EcoAction program was endorsed by Sir Richard Branson's Carbon War Room and Aon Hewitt named Port Metro Vancouver to the Canadian Green 30 list. More information is available in Port Metro Vancouver's 2013 Sustainability Report.