Friday, June 6, 2014

Port Metro Vancouver Releases Sustainability, Financial Reports

By Mark Edward Nero

Port Metro Vancouver on June 3 released its fourth annual Sustainability Report and 2013 Financial Report. Both reports together cover the period of Jan. 1, 2013 to Dec. 31, 2013 and provide a summary of the port’s overall performance.
Among the things spotlighted in the 2013 Financial Report were Metro Vancouver’s commitment to financial self-sufficiency and the reinvestment of profits to improve port facilities, infrastructure, and services as well as to enhance environmental programs. Key accomplishments outlined in the report include:
Re-affirmation by Standard & Poor’s of the port’s AA credit rating, for the fourth consecutive year.
A 12 percent increase in overall consolidated revenue, from $189 million in 2012 to $212 million in 2013.

The purchase of the former Fraser Wharves auto terminal in Richmond for $56 million.

The completion of the South Shore Elevated Road Structure, on time and on budget.

The 2013 Sustainability Report, Metro Vancouver says, was designed to provide greater transparency and accountability in how Port Metro Vancouver conducts business, and to offer a platform for sharing performance and receiving feedback.

Key accomplishments outlined in the 2013 Sustainability Report include:
  • Port Metro Vancouver completed 198 environmental reviews on proposed projects and activities to identify and mitigate effects on land, air and water.
  • A 12 percent increase in participation in the port’s EcoAction program, which promotes emission reduction measures by offering discounted harbor rates to shipping lines.

Eighty-two cruise vessels successfully connected to shore power at Canada Place, enabling ships to shut off their diesel powered engines thereby reducing gas emissions by more than 3,000 tons.

Key topics discussed in the report include the industrial land shortage in the Lower Mainland; the movement of coal; noise in proximity to residential areas; trucking; tanker safety; and major port-related infrastructure projects.

The sustainability and financial reports are both available on the port’s website: