Port Metro Vancouver Posts Solid 2011 Mid-Year Numbers

Aug 04, 2011, 08:00 ET from Port Metro Vancouver

VANCOUVER, Aug. 4, 2011 /PRNewswire/ - Port Metro Vancouver has released its 2011 mid-year results, with stable numbers showing solid performance for Canada's largest and most diverse port. The 2011 mid-year statistics report shows the Port handled 58.7 million tonnes of cargo in the first six months of 2011, a 1 per cent increase over the same period in 2010.

Port Metro Vancouver's 2011 mid-year statistics report highlights stable performance in key sectors and follows a strong 2010 that saw new records set in key sectors.

"As the year unfolds, it is clear that our strength lies in our diversity," said Robin Silvester, President and Chief Executive Officer, Port Metro Vancouver. "We are pleased to see a renewed national focus on the importance of improving Canada's trade and opportunities with rapidly growing Asian economies. Demand from Asian economies continues to be the cornerstone of the Port's success, and will drive our business in the future."

Foreign exports to growing Asian economies continue to post increasing volumes in forest products, potash, and coal. Total foreign tonnage rose 1 per cent for YTD 2011 to 46.1 million tonnes. 

"The Asia-Pacific Gateway is critical to Canada's long term economic prosperity," said the Hon. Ed Fast, Minister of International Trade and for the Asia-Pacific Gateway. "Port Metro Vancouver is a key link that is positioning Canada to take advantage of the Asia-Pacific markets crucial to creating economic growth, jobs and prosperity for British Columbians and all Canadians."

Total domestic tonnage also grew 1 per cent to 12.6 million tonnes YTD 2011.

"Port Metro Vancouver continues to demonstrate strength as a major economic generator for British Columbia," said Transportation and Infrastructure Minister Blair Lekstrom.  "The Port's mid-year results show the importance of growing trade with Asia."

Solid performance: Key Sectors 

Auto volumes dropped 28 per cent, a reflection of the market challenges stemming from the major disruption of manufacturing in Japan due to the continuing impact of the devastating March 11 earthquake and tsunami.

Breakbulk cargo is down 6 per cent overall; however, foreign breakbulk exports have posted a 12 per cent increase due to the strength in demand for Canadian forest products, like lumber and logs.

Bulk volumes were up 1 per cent overall, with dry bulk cargoes like coal and potash posting a 2 per cent and 38 per cent increase respectively, and liquid bulk cargo posting a 22 per cent decrease.

Container traffic at Port Metro Vancouver has continued its upward trend, increasing 5 per cent YTD to 1.2 million TEUs*, as a 12 per cent increase in containerized exports offset a weaker demand for consumer goods showing a 1 per cent rise in imports.

Cruise voyage and passenger numbers have increased with 81 cruise calls and 259,465 passengers welcomed at Port Metro Vancouver during the first half of the 2011 season, representing a 16 per cent increase. The Port also anticipates a significant increase in the number of shore power connections during the 2011 cruise season, with an estimated 56 shore power-enabled cruise calls, up from 44 in 2010.

*Twenty-foot equivalent unit containers

Port Metro Vancouver 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 or detailed statistics, please visit www.portmetrovancouver.com.

SOURCE Port Metro Vancouver