Port of Vancouver's Mid-year Stats Show Record First-half

Saturday, August 11, 2007

VANCOUVER, Aug. 1 /CNW/ - The Port of Vancouver experienced record overall tonnage growth during the first half of 2007 and posted gains in all business sectors with the exception of breakbulk tonnage, according to mid-year statistics released today by the Vancouver Port Authority (VPA).

In June, the Port of Vancouver also showed its highest ever volume for a one month period, with overall tonnage at 7.8 million. With June numbers alone almost 300,000 tonnes higher than the previous high last October, 2007 is shaping up to be a record year.

"June represents a landmark month for the Port of Vancouver and underscores a continuing growth trend for the gateway, led by Canadian bulk exports," said Chris Badger, VPA's Vice President, Customer Development and Operations. "As a trading nation, this is likely good news for Canada's economy".

Overall, total tonnage increased by 4.5 per cent to a record 39.9 million tonnes. Bright spots included potash volumes, which surged by nearly 137 per cent to more than 3 million tonnes, and lumber volumes, which jumped by almost 25 per cent to 1.4 million tonnes.

The port has also seen a 25 per cent increase in cruise passengers so far this season, with the addition of Celebrity's Mercury home porting in Vancouver, and the continued growth of BC's tourism industry.

"The increase in cruise traffic marks a turning point after several years of reduced passenger volumes," said Badger.

Coal continued as the top commodity by volume, and together with increases in potash reflects a strong recovery from a slow start to the year due to weather and rail service issues. Sulphur volumes decreased by 14 per cent, due to lower Canadian production and high domestic demand so far this year.

Growth in minerals, metals and inorganic chemicals reflects continued economic expansion and manufacturing activity in Asia as well as booming construction activities in BC and Alberta. Inorganic chemicals including caustic soda, locally used in manufacturing pulp, paper and textiles, increased 80 per cent.

Strong trade flows between Canada and the US saw petroleum products, particularly crude oil and jet fuel, increase 18 per cent.

Lumber and other wood products rose significantly, in part due to recent growth in demand from Japan. Woodpulp exports decreased due to a strong North American domestic market as well as competition from South America and Asia.

Container traffic at the Port of Vancouver increased by five per cent, reflecting growth of laden import and export traffic. Volumes reached 1,086,640, up from 1,035,189 at the mid-year mark in 2006. Stronger than anticipated outbound laden container traffic is contributing to a very positive outlook for the year overall.

Grain traffic at the port decreased overall as some wheat exports were diverted through the Port of Prince Rupert, while a share of canola business to Mexico was shipped over land by rail rather than by sea. Volumes of specialty grains and other cereals increased by 6 per cent and 64 per cent respectively with increasing demand for Canadian product from Asia and the Indian sub-continent.

Breakbulk cargo was down slightly in response to an increasing shift of breakbulk volumes to containers and a reduction in steel imports, as well as the decline in woodpulp exports mentioned earlier.

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