Friday, August 24, 2012

Port of Vancouver Posts Mid-Year Growth

Port Metro Vancouver handled 62.3 million tons of cargo through the first half of 2012, posting continued growth of six percent overall, according to newly released 2012 mid-year results.

“What we have seen to the mid-point in 2012 is continued resiliency in the Canadian export market,” Robin Silvester, President and Chief Executive Officer of Port Metro Vancouver said in a statement announcing the data. “Although some Asian economies show slower growth overall, through the port we saw continuing strong demand for Canadian natural resources.”

Total foreign tonnage at Port Metro Vancouver posted a six percent increase over the same period last year with 49 million tons, while total domestic tonnage was up six percent, to 13.3 million tons.

The mid-year numbers include healthy growth in key sectors, including:
  •  A six percent increase in container traffic, growing to 1.3 million 20-foot equivalent units, a Port Metro Vancouver record.
  • A rise in bulk volumes to 42.4 million tons, a six percent increase. Dry bulk cargoes like coal were up 10 percent to 16.7 million tons. Liquid bulk cargo ended the mid-year up seven percent to 4.9 million tons, the port says.
  • A five percent increase in break bulk cargo, for a total of 8.3 million tons. The growth was partially supported by 5.5 million tons of traffic in forest products like lumber, logs and wood pulp.
  • A 47 percent increase in auto volumes, rising to 223,000 units. The port attributes the increase mostly to the resumption of imports after the March 2011 devastating earthquake and tsunami in Japan, which had shut down a large part of the Japanese industry for much of last year.
“Thanks to capacity building projects now underway, together with improved efficiencies, and this ongoing demand, we expect to see continued strength throughout 2012,” Silvester said.
Port Metro Vancouver is Canada’s largest export port by tonnage. It trades $75 billion in goods annually with more than 160 trading economies.