Canada's east coast ports are pursuing a capacity expansion strategy to increase business and to offer alternatives to congestion problems at US east and west coast ports.
Ports relying most on general cargo, notably Montreal and Halifax, are enjoying favourable trends in container activity, reported the American Journal of Transportation.
On the other hand, the recent plunge in commodity prices and fears of a deeper slowdown in China, the world's primary driver of commodity demand, have hammered such bulk ports as Quebec and Sept-Iles on the St Lawrence River.
In related developments, federal support for several large port projects was announced in recent weeks by a Conservative government seeking a return to power in a national election being held on October 19.
Although the Canadian economy showed no growth in the first half, partly because of low oil prices, the outlook improved exports rebounded thanks to robust US demand and a weak Canadian dollar hovering around 76 US cents.
Montreal's strong performance in 2014 has carried into 2015. Major projects are in progress and there are no congestion problems as the port expects to capitalise on anticipated increased North Atlantic trade upon the ratification (hopefully by 2016) of the Canada-European Union free trade agreement.
In 2014, the Port of Montreal handled a record 30.4 million tonnes of cargo, an increase of eight per cent from the previous year. Container traffic was up 4.2 per cent at 1.4 million TEU.
PORTS
04 September 2015 - 06:00
Canada's east coast ports ready offer relief for US harbour congestion
Canada's east coast ports are pursuing a capacity expansion strategy to increase business and to offer alternatives to congestion problems at US east and west coast ports.
PORTS
04 September 2015 - 06:00
Canada's east coast ports ready offer relief for US harbour congestion
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