NEW YORK, Nov. 28, 2016 /PRNewswire/ -- Includes 3 FREE quarterly updates
We anticipate positive growth rates for Canada's freight modes and sea ports in 2017 although slow economy expansion will stall growth to some extent. Road will record the highest increase in tonnage carried, just ahead of rail with road also the dominant mode, facilitating domestic freight transports and US trade. In 2016 we saw some ports experiencing a contraction in throughput due to weaker Chinese demand however we forecast in 2017 that both tonnage and container traffic at all main ports to rise. The upcoming trade deal between the EU and Canada offers an upside risk to our forecasts for the next years, for trade volumes and consequently freight tonnage.
Forecast And Latest Updates
- The Trans-Canada Highway will be upgraded as announced by the Transportation Ministry. Improvements such as widening will accommodate increasing road freight transports.
- The Central New England Rail Line will be improved to allow carriage of heavier loads, targeting increased used of the mode by nearby manufacturing plants.
- Air Canada has introduced new air freight services between Canada the US and South America. The launch of daily flights from Montreal to Shanghai China is also planned for early 2017 with flight expansion promoting the use of air freight services.
- Canada's negotiations with the EU regarding a trade deal are edging closer to completion following Belgium's recent approval with the potential agreement to boost trade volumes.
- We forecast road freight to increase by 3.5% in 2017 to 645.9mn tonnes, rail freight by 3.3% to 181.5mn tonnes, air freight by 0.8% to 537,000 tonnes and inland waterway freight by 1.4% to 20.0mn tonnes.
- Total trade real growth in 2017 is projected at 2.2% and to average 2.6% over the medium term with imports growth averaging 2.9% and exports 2.3%.
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