Port Metro Vancouver: Continuing Growth Building Common Interest
"Port Metro Vancouver is a key part of the success of Canada's Pacific Gateway, the preferred gateway to Asia for North American trade," said Transportation and Infrastructure Minister Mary Polak. "It is a world class facility that offers shippers speed and efficiency, creates jobs for B.C. families and boosts our economy. Its continuing success is a sure sign that B.C.'s economic plan is on the right track."
Port Metro Vancouver is North America's largest export port by tonnage and trades $75 billion in goods annually with more than 160 trading economies, generating across Canada an estimated 129,500 jobs, $6.1 billion in wages, and $10.5 billion in GDP. For full details, please read Port Metro Vancouver's Statistics Overview 2012.
Backgrounder: Continuing Growth Building Common Interest
Auto volumes of 384,000 units ended the year after a strong rebound, an increase of 29 per cent. This marked increase was largely due to the resumption of imports after the devastating earthquake and tsunami in Japan in March 2011 shut down a large part of the Japanese auto manufacturing industry.Breakbulk cargo of 16.7 million tonnes represents an increase of four per cent with more than half of continued growth supported by 8.4 million tonnes of logs (up 14 per cent) and 1.4 million tonnes of woodpulp (up three per cent). Bulk volumes of 83.7 million tonnes represents a slight decrease of one per cent overall that included a decline of dry bulk by two per cent combined with an increase in liquid bulk of nine per cent. Although coal cargo was trending up for the year and edged above 2011 volumes to set a new record in 2012, damaged loading equipment at Canada's largest coal export terminal in early December caused numbers to stall. Crude petroleum exports rose 35 per cent by volume an increase of tanker traffic from 34 in 2011 to 50 in 2012. Container traffic volumes continue to exceed forecasted growth and 2012 container traffic has set a record with eight per cent growth over 2011 to 2.7 million TEUs*. Cruise passenger numbers in 2012 posted an expected slight increase of half a per cent over 2011. Cruise passenger volumes are anticipated to spike in the 2013 season with an estimated 23 per cent increase, more than 820,000 passengers. Infrastructure projects that build capacity, maximize efficiency and density and minimize community impacts of port operations moved forward in 2012. Projects included the South Shore Corridor Project ( Vancouver), the Low Level Road Project ( North Vancouver), the Deltaport Terminal Road and Rail Improvement Project (Delta), and Roberts Bank Rail Corridor Projects (Lower Mainland). Foreign Vessel Calls were up two per cent, to 3,081. Crude tanker traffic rose from 34 tankers in 2011 to 50 tankers in 2012, representing less than two per cent of total vessel traffic through Port Metro Vancouver. Community engagement activities and participation in community events continues to increase. In 2012, Port Metro Vancouver staff led, attended and participated in more than 600 community events. We expect that number to grow in 2013. *Twenty-foot equivalent unit containers.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts