Prince Rupert port sees cargo volumes surge 12pc to 29.9mt in 2019
THE Prince Rupert Port Authority (PRPA) handled a record 29
THE Prince Rupert Port Authority (PRPA) handled a record 29.9 million tonnes of cargo in 2019, an increase of 12 per cent year on year, on the back of a strong performance at DP World's Fairview Container Terminal that saw 1.2 million TEU pass through its gates, up 17 per cent over 2018.
Add to the total, propane volume from AltaGas' Ridley Island Propane Export Terminal, and growth in coal handled at Ridley Terminal rose 18 per cent over the previous year.
'The port of Prince Rupert's consistent record-breaking annual volumes confirms the port's growing role in Canadian trade,' said Prince Rupert Port Authority CEO Shaun Stevenson.
'The 2019 volumes illustrate the growing market demand for the Prince Rupert gateway and further validates our plans for growth and expansion over the next several years.'
PRPA's latest economic impact study released in 2019 revealed that port-related growth has resulted in the port of Prince Rupert handling US$50 billion in trade value annually and supports 3,600 direct supply chain jobs in northern British Columbia, $310 million in annual wages, and $125.5 million in annual government revenue.
In 2019, several infrastructure projects supporting growth and diversification at the port were unveiled, including the Ridley Island Export Logistics Park, the Zanardi Bridge and Causeway Project, and the Metlakatla Import Logistics Park - all of which are supported by government investment through the National Trade Corridors Fund.
Moreover, construction commenced on PRPA's Fairview-Ridley Connector Corridor. The 5.5-kilometre corridor will provide a physical platform for two new rail sidings and a private two-lane haul road between Fairview Container Terminal and Ridley Island.
Forecasted volumes for 2020 are expected to exceed those of 2019 and PRPA foresees a trend of record-breaking years to continue into this decade.
An anticipated $2 billion in capital expansion projects starting in 2020 will support further cargo growth, including DP World's Fairview Terminal expansion project that will boost the terminal's capacity up to 1.8 million TEU by 2022.
Furthermore, the Vopak Pacific Terminal project, which is currently undergoing its environmental assessment and expects to make a final investment decision in 2020; and Pembina's Prince Rupert Export Terminal, which is currently under construction and is expected to open later this year.