BMI View: The country's two largest ports - Port Metro Vancouver and the P ort of Montreal - are both set to see healthy growth in terms of both the tonnage and container spheres, echoing the positive growth expected to occur in the wider Canadian economy. Indeed, total trade growth, buoyed by exports, will return to the positive in 2015 following two years of contractions.
Based purely on year-on-year (y-o-y) growth, rather than tonnage handled, the outperforming Canadian port is set to be the Port of Prince Rupert, which is pencilled in to see y-o-y gains of just over 12% in 2015. The Port of Montreal is poised to come in first place in terms of annual tonnage growth (4.83%).
Headline Industry Data
Port Metro Vancouver tonnage throughput is forecast to grow 2.39% in 2015. We project throughput to reach 143.76mn tonnes by the end of 2015.
Port Metro Vancouver container throughput is forecast to increase by 5.2% to reach 3.1mn twenty-foot equivalent units (TEUs) in 2015.
Port of Montreal tonnage throughput is forecast to increase by 4.83% to reach 30.40mn tonnes in 2015.
Port of Montreal box throughput is forecast to grow by 4.40% to reach 1.49mn TEUs.
Key Industry Trends
Container Truckers At Port Metro Vancouver Threaten To Strike - Container truckers, under the Canadian union Unifor, have voted for industrial action to take place once again at Port Metro Vancouver if the government fails to comply with an agreement about pay rates. An agreement had been reached between the port and the provincial and federal governments in March 2014 following a strike by the truckers but the truckers have claimed that the government failed to abide by the agreement. According to BC Area Director for Unifor Gavin McGarrigle the agreement was supposed to be implemented within a period of 30 days, but even after eight months, it still remains to be put into action (Globalnews).
Montreal Port On Track To Construct Container Terminal - Canada's port of Montreal...