Port of Vancouver sees growth in grain, but overall throughput declines

02/05/2010

The Port of Vancouver's 2009 year-end cargo statistics report significant growth in grain, specialty crops and petroleum products, a modest increase in export laden container volume, and a decrease in total container count. Overall, the Port's 2009 total tonnage declined 11 per cent compared to 2008.

"At the end of a challenging and turbulent year, we're pleased to see gains in some principal Canadian exports, such as grain, specialty crops and crude petroleum," said Robin Silvester, President and CEO, Port Metro Vancouver. "Total foreign export volumes remained stable over the year, which reflects solid demand for high quality Canadian commodities and underpins the Port's value as Canada's most important Gateway to international trade."

The Port's overall volume of 101.9 million metric tons was down 11 per cent compared to 2008. Despite overall tonnage declines, some positive trends emerged in 2009. Total foreign exports were flat on the year, though Asia, led by China, emerged as a major factor in volume growth for bulk exports. While the recession had a mostly negative impact on international trade, the positive economic growth in China and India, along with stability in South Korea, translated into strong increases in exports of Canadian commodities to these trading partners through the Port.

On another positive note, volume decreases experienced during the first half of 2009 inched toward recovery in the third and fourth quarters, foreshadowing possible gains for 2010.

Overall container volume for Port Metro Vancouver decreased nearly 14 per cent, for 2.2 million TEUs (twenty-foot-equivalent unit) on the year. The downturn in the economy and erosion of consumer confidence in 2009 led to an almost 19 per cent decline in laden container imports, while stable demand for containerized exports of forest products and specialty crops helped laden outbound units advance by one per cent. Although the Port's laden container business finished the year down 10 per cent, the sector recorded a marked improvement compared to the 17 per cent decline reported at mid-year.

Coal exports finished the year down six per cent, at 24.3 million metric tonnes, accounting for nearly one quarter of total port tonnage. Consistent growth in exports to South Korea and China throughout the year was complemented by the recovery of demand for metallurgical coal by major steel producers, such as Japan, in the second half of the year.

Grain, specialty crops and feed volumes increased 33 per cent and set a throughput record for grains at 18.1 million tonnes. These record volumes resulted from high carryover from a very good 2008 harvest, a larger than expected 2009 harvest, and very strong demand in Asia, South America and the Middle East. Canola increased 38 per cent on high demand from Asia, and volumes to China peaked in advance of its November 15 ban on Canadian canola. Wheat volumes through the Port advanced 38 per cent on strong demand from Latin American, South American and Middle Eastern markets.

Domestic moves of consumer and related goods also declined 12 per cent, from 4.6 million tons to 4.1 million tonnes, reflecting the decrease in consumer spending that also contributed to the reduction in import containers.
Portetro Vancouver is Canada's largest and North America's most diversified port, trading $75 billion in goods with more than 160 trading economies annually. Port activities generate 129,500 total jobs across Canada, $10.5 billion in GDP and $22 billion in economic output.

Access Port Metro Vancouver's complete 2009 statistics at www.portmetrovancouver.com/about/factsandstats.aspx



Source: Canada Newswire, February 1, 2010