Increasing Demand for Canadian Trade Drives Record Year at Port Metro Vancouver

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 12, 2015) - Port Metro Vancouver today released its 2014 year-end statistics, showing its second consecutive year of record-breaking cargo volumes.

The year was marked by best-ever volumes in the bulk and container sectors, resulting in a record overall year in tonnage. The port's terminals handled 140 million tonnes of cargo in 2014, up three per cent from 2013. Import cargo rose 4.1 per cent to 27 million tonnes, and exports rose 3.3 per cent to 108 million tonnes.

Substantial completion of major infrastructure programs and projects, significant accomplishments in environmental initiatives, and ongoing community engagement were key to managing this growth and striking an appropriate balance between economic development and community interests.

"The port had another record year for cargo volumes, illustrating the demands created by a growing Canadian economy and increasing international desire for Canadian trade," said Robin Silvester, President and Chief Executive Officer, Port Metro Vancouver. "I'm proud of the leading-edge environmental initiatives, community engagement and infrastructure projects we have completed this year to help balance this continued growth with our local quality of life."

Bulk volumes increased by 5.3 per cent over 2013, with substantial increases in grain exports after a bumper crop year and strong international demand spurred an 18 per cent increase in exports of wheat and 31 per cent increase for canola. Bulk coal volumes remained strong as volumes increased in several emerging markets from more traditional markets. Bulk potash reached a new record of 7.4 million tonnes, a 14 per cent increase from the previous year.

Container volumes continued to grow, with a 3.1 per cent increase over 2013, despite reduced volumes in the month of March due to a container trucking disruption.

"Every year, millions of tonnes of cargo are handled at Port Metro Vancouver. As we further develop our already robust trade ties with the world, this number will only go up," said the Honourable Lisa Raitt, Minister of Transport. "The record volume of goods that move through the port every year is testament to Canada's strong economic growth, and demonstrates Canada's important role as a vital trading partner to the rest of the world."

Auto volumes declined in 2014 largely due to a shift in vehicle production from Asia to North America. Breakbulk volumes also fell slightly due to a decrease in log exports. Cruise passenger numbers however remained strong, as Port Metro Vancouver welcomed 812,095 passengers throughout the 2014 season.

Port Metro Vancouver is Canada's largest gateway, handling 19 per cent of the value of Canada's total trade in goods.

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.

For more information

Port Metro Vancouver's 2014 Statistics Overview: http://www.portmetrovancouver.com/en/about/factsandstats.aspx

Backgrounder

• Highlights for 2014 include new records in:
  • total port tonnage, at 140 million metric tonnes
  • total container TEU volumes at 2.9 million TEUs
  • dry bulk tonnage at 87.9 million metric tonnes
  • bulk grain (19.6 million metric tons) and containerized grain (3.7 million metric tonnes)
  • total grain tonnage at 23.3 million metric tonnes
  • bulk potash at 9.5 metric tonnes
• Auto volumes were down 7.2 per cent from 2013 levels, at 351,463 units in 2014. The drop in auto imports through Port Metro Vancouver is largely due to more cars being produced in North American instead of Asia.
• Breakbulk cargo volumes were down 0.5 per cent since 2013, at just under 17 million metric tonnes. A decrease in log exports was almost offset by increases in metals, lumber and other commodities, buoyed by strong construction and industrial activity in western Canada.
• Bulk volumes of 97.6 million metric tonnes represents an increase of 5.3 per cent since 2013, with dry bulk up 6.8 per cent, and liquid bulk down 6.3 per cent. Grain led growth in the dry bulk category with a record year at 19.6 million metric tonnes, representing a 22 per cent increase over 2013. Bulk coal volumes held steady at 38.1 million metric tonnes, as dropping demand in China and South Korea was offset by increases to other economies, notably Japan, Chile and Brazil.
• Container growth remained steady overall at 3.1 per cent, with a record total of 2,912,928 TEUs (twenty foot equivalent units). Container TEUs reached a record despite a significant decline in TEUs for the month of March due to a trucking disruption. Container growth is supported by growth in both retail trade and consumer confidence in North America. Cargo-filled inbound containers were up 6 per cent, and cargo-filled outbound containers were down by 7 per cent. Container lines chose to ship more empty containers to Asia to meet higher demand for inbound cargo and facilitate quicker turn-around of ships recovering from scheduling delays as a result of U.S. west coast port congestion.
• Cruise passenger numbers remained strong, as Port Metro Vancouver welcomed 812,095 passengers on 243 calls by 29 vessels, compared with 812,398 passengers on 235 calls by 29 vessels for the 2013 season.
• Environmental initiatives continue to be a core focus for Port Metro Vancouver. In 2014, the port was recognized for sustainability performance by Corporate Knights, MarCom and Clean Tech50. From shore power and the Northwest Ports Clean Air Strategy, to the container truck licensing system and EcoAction, Port Metro Vancouver is an established global leader in port sustainability. Our fourth annual Sustainability Report captures these, and other, key achievements.
• Infrastructure projects that increase capacity while minimizing traffic and other adverse impacts on local communities continued in 2014, with many key projects and programs coming to a close. The Roberts Bank Rail Corridor program was completed, two South Shore Corridor Program projects came to an end, and the Low Level Road in North Vancouver was opened to traffic.
• Community engagement remains integral to operations. Port Metro Vancouver opened a community office in Delta, and participated in more than 500 community engagement events. It also hosted several signature events at Canada Place, including Canada Day at Canada Place and Christmas at Canada Place.