Canada's Prince Rupert gets the green light to expand terminal
DUBAI's DP World has received final regulatory approvoal to expand its Fairview container terminal at the Port of Prince Rupert in British Columbia, Canada, to handle 1
DUBAI's DP World has received final regulatory approvoal to expand its Fairview container terminal at the Port of Prince Rupert in British Columbia, Canada, to handle 1.6 million TEU annually, up from the current 1.3 million.
Prince Rupert's vice president of trade development and communications, Brian Friesen, said the project is expected to be completed in late 2021 or early 2022. A second expansion project to boost Fairview's capacity to 1.8 million TEU is planned for late 2022, he said. The projects include an expanded container yard, additional on-dock rail capacity, and the purchase of an eighth gantry crane, reports IHS Media.
Prince Rupert's container volume in January-May this year was 307,333 TEU, down 6.3 per cent from the same period last year, according to PIERS, as North American ports lost volume due to the coronavirus outbreak. The port handled 1.2 million TEU in 2019, one year after it surpassed one million TEU.
The Prince Rupert and Vancouver grew their share of Pacific Northwest container volume to 63.3 per cent in January-May, from 61.2 per cent in the same period of 2015. The Northwest Seaport Alliance of Seattle and Tacoma has seen its market share of the region's cargo slip to 36.7 per cent in January-May from 38.3 per cent in 2015, according to PIERS.
In order to accommodate growing container volumes, the Canadian ports must expand their marine terminal capacity and road and rail infrastructure through short- and medium-term capital investment projects. The ports are operating at 80-85 per cent utilisation. The Northwest Seaport Alliance, by contrast, is operating at about 60 per cent utilisation.
In the longer term, Prince Rupert and Vancouver have projects on the drawing board to build new terminals, each with a capacity of two million TEU.