“The slight decrease in cargo volumes in the first half of 2016 is expected, given the record year we experienced in 2015 and the softening global economy,” said Robin Silvester, president and chief executive of Vancouver Fraser Port Authority.
He continued: “But the long-term outlook for Canadian trade is one of growth and the port will be ready to handle increased volumes through Canada’s west coast.”
Total cargo for the half year ending June 30, 2016 saw an overall decrease of 5.9% to 66m metric tonnes. There was a softening of volumes for all major commodities except grain.
In the bulk sector, more grain is being exported overseas to new markets resulting in an increase of 4.8% over record 2015 volumes.
Reduced investment due to a slowdown of industrial activity in western Canada, along with the weakened Canadian dollar, led to an 11% decrease in volumes of machinery, vehicles and construction materials moved through the Port of Vancouver.
Other resource-based decreases include a 38% drop in exports of power-generating thermal coal to key Asian markets.
In the container sector, volumes weakened in the first half of 2016 compared to last year, when the port experienced a temporary surge of cargo in 2015 as shippers chose to move freight through Canada due to labour disruptions at US west coast ports.
Mr Silvester concluded: “Shippers continue to express confidence in the Port of Vancouver, and we continue to see significant investment projects moving forward in the gateway”
“We wish to thank all our many customers and terminals for working with us to provide an efficient and reliable supply chain and to plan for the future.”
