Record grain boosts mid-year results at the Port of Vancouver

Overall cargo through the Port of Vancouver has increased 4% to 69 million t the same time last year with mid-year records in bulk grain and containers.

Container quantities (measured by TEUs or twenty-foot equivalents) increased by 9.6% compared to mid-year 2016 to a record 1.6 million TEUs as a result of the strengthening economy as well as global demand for Canadian products shipped in containers and Canadian demand for consumer and manufacturing goods from Asia.

“Our record mid-year container results demonstrate the continued confidence of shippers in the Port of Vancouver and our ability to handle the growing demand for goods shipped in containers,” said Robin Silvester, President and Chief Executive Officer of the Vancouver Fraser Port Authority.

Strong overseas demand for Canadian grain products resulted in a steep increase in wheat, canola and specialty crop exports, which include pulses and lentils (up 55%). This is the Port of Vancouver’s sixth consecutive year of record mid-year volumes of bulk grain at 12.5 million t in 2017, a 12.9% increase over mid last year.

“The global demand for Canadian agricultural products continues to be strong in 2017 and is reflected in the record grain volumes through the Port of Vancouver over the first half of the year,” added Silvester.

“The long-term outlook for Canadian trade is one of growth and the Port of Vancouver is working hard to ensure we will be ready to handle increased volumes through Canada’s West Coast. We’d like to thank all of our terminal partners for their investments in new technology and infrastructure that are helping to increase capacity, and provide a more efficient and reliable goods movement supply chain,” added Robin.

Read the article online at: https://www.drybulkmagazine.com/ports-terminals/16082017/record-grain-boosts-mid-year-results-at-the-port-of-vancouver/