2010 Mid-Year Stats Mark Rebound In Port Metro Vancouver Cargo

Upswing Trend in 2010 Signals Return to 2008 Levels

VANCOUVER, July 30 /PRNewswire/ - Port Metro Vancouver has released the 2010 mid-year results of overall throughputs in the Cargo Statistics Report. The report shows that 2010 is building momentum, with an overall tonnage increase of 20 per cent totalling 58.4 million tonnes to date.

"As a significant economic generator for Metro Vancouver, the Province, and Canada, we are cautiously optimistic. Significantly improved half-year numbers are good news for all Canadians and signs of continued growth point to a return to 2008 pre global economic downturn levels possibly as soon as 2011," said Robin Silvester, President and Chief Executive Officer, Port Metro Vancouver, "Importantly during a slower 2009, the Port seized the opportunity to define processes and investments to improve efficiencies and capacity, and to collaborate with customers and stakeholders. Our efforts are paying off. We are pleased to see that while cargo through the port has increased again, we have reduced our carbon footprint and improved customer service," he said.

Total foreign tonnage increased 19 per cent, to 45.5 million tonnes, with increased foreign exports to growing Asian economies leading the way.

"Those results show the Asia-Pacific Gateway strategy is working for Canada's largest port. Exports to the Asia-Pacific markets are showing growth thanks to the collaborative efforts and determination of Port Metro Vancouver, terminal operators, the trucking and rail industries, and all levels of government," said the Hon. Stockwell Day, President of the Treasury Board and Minister responsible for the Asia-Pacific Gateway. "This is a great example of how the Gateway can help boost trade between Canada and the growing economies of the Asia-Pacific region."

Total domestic tonnage also increased, to 12.9 million tonnes, up from 10.7 million tonnes in 2009.

"Our government has made the Asia-Pacific strategy a priority so the rebound in shipments through Vancouver is another positive indicator of the benefits of our focus on Asia," said the Hon. Shirley Bond, British Columbia's Minister of Transportation and Infrastructure.

Signs of growth: Key Sectors

    -   Breakbulk is up 24 per cent overall, with value-added forest products
        the key driver behind the growth, due to increased foreign and
        domestic demand.

    -   Bulk is up 22 per cent resulting from growth in Asian economies and
        strong demand for Canadian commodities like coal and potash.

    -   Containers are up 12 per cent as a direct result of consumer
        spending, with demand for consumer goods increasing as the economic
        recovery begins to take hold.

    -   Auto volumes are up 6 percent, returning close to 2008 levels.

    -   Cruise voyage numbers experienced an anticipated decrease this year
        from 105 voyages in 2009, to 70 voyages to date in 2010 as cruise
        lines redeployed vessels in response to a difficult business climate
        globally and specific challenges to the economics of cruise business
        in Alaska.

So far in 2010, Port Metro Vancouver has also made progress in other important areas, for example:

    -   Sustainability - Port Metro Vancouver emissions reduction programs
        have received international acclaim, having been awarded the
        Globe 2010 ecoFreight Award for Sustainable Transportation. The Port
        has also been credited for its Air Action Program, having been
        nominated for the International Sustainable Shipping Award. The Port
        has also improved incentives for cleaner ships to call at the Port,
        and together with government and industry, brought shore power to
        Canada Place making 2010 the first eco-friendly cruise season.

    -   Collaboration - Port Metro Vancouver's first Collaboration Agreement
        with CN has been a catalyst to CN's recent announcement of service
        agreements with terminal operators, with CP also entering into
        similar agreements. These agreements are important steps toward more
        reliable and efficient service.

    -   Capacity - Through the Gateway Infrastructure Program, in partnership
        with the Government of Canada, Municipal governments, First Nations,
        business and stakeholders, Port Metro Vancouver commissioned the
        Deltaport Third Berth project and commenced construction of the
        Lynn Creek/Brooksbank Rail Underpass project.

The Port trades $75 billion in goods annually with more than 160 trading economies, generating across Canada an estimated 129,500 jobs, $6.1 billion in wages, and $10.5 billion in GDP. For full details, please visit www.portmetrovancouver.com

SOURCE Port Metro Vancouver