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Prince Rupert sees cargo volume up 10pc but revenue dips 4pc

CARGO moving through the Port of Prince Rupert rose to a record volume of 26

Prince Rupert sees cargo volume up 10pc but revenue dips 4pc

CARGO moving through the Port of Prince Rupert rose to a record volume of 26

24 June 2019 - 19:00

CARGO moving through the Port of Prince Rupert rose to a record volume of 26.7 million cargo tonnes last year, representing a new record for the Prince Rupert Port Authority (PRPA) and an increase of 10 per cent from 2017.

In its recent financial statements and annual report, PRPA reported that despite an increase in cargo, revenues for the authority had gone down by CAD2.5 million (US$1.87 million), representing a four per cent decline from 2017, which saw a total of CAD62 million in revenue. Net income for 2018 totalled CAD25.2 million.



All shipments, except for bulk grain, experienced a growth of nine to 21 per cent. The biggest decline in shipments was barley, which went down by 67 per cent. Canola shipments experienced a decline of 32 per cent and petroleum coke declined by 12 per cent. Metallurgical coal saw the biggest increase in shipment at 40 per cent.



Prince Rupert saw its one millionth container unit go through the port in 2018 as the Fairview Container Terminal successfully hit its milestone. In 2017 DP World completed its expansion project, which allowed the annual capacity for containerised cargo to hold more than 1.35 million TEU. DP World also announced in 2018 that they plan to continue expanding the terminal to keep up with demand, hoping to reach a 1.8 million TEU capacity by 2022.



The CAD500 million Ridley Island Propane Export Terminal, designed to ship 1.2 million tonnes of propane annually, continued their construction which allowed the port to make history in 2019 when it saw the first propane shipment from Canada's west coast, repots BC Local News, Victoria.


WORLD SHIPPING

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