The new owners of the Fairview Container Terminal haven't let much time pass by before setting their course ahead when it comes to expansion of the Northwest Gateway into Canada and the United States.
DP World, the global Port operator based out of the United Arab Emirates that acquired Fairview Terminal earlier this year has delivered a major announcement today, providing some background on their plans that could bring the possibility of more economic development for the North Coast in the years to come
In a media release this morning, with datelines of Prince Rupert and Dubai, DP World and the Prince Rupert Port Authority announced an agreement to study further expansion of the Terminal operations on the North Coast.
With the Phase II southward expansion of the Terminal now to be examined through a Feasibility Study Agreement withe the Prince Rupert Port Authority.
As part of that study, DP World will review current marine liner services and container growth forecasts for Trans-Pacific Trade on the West Coast, reviewing the demand when it comes to any potential activation of the Phase II expansion to the south and to align the project schedule with market demand.
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| The Prince Rupert Port Authority and DP World operators of Fairview Terminal will study the feasibility of a Phase Two expansion to the south |
The timeline for potential development was outlined by Maksim Mihic, DP World Canada's Group General Manager.
“Phase II South, which could potentially be delivered within the next three to five years depending on demand, would increase the total capacity of Fairview Container Terminal to in excess of 2 million TEUs, and would provide capacity to meet Canada’s Pacific container terminal capacity requirements for decades to come in a cost-effective and environmentally responsible manner.”
Prince Rupert Port Authority President and CEO provided the Port's view of the latest development when it comes to Port expansion with a statement as part of the media release this morning:
“The growth in traffic at the Fairview Terminal, North America’s fastest-growing intermodal gateway, has been a validation of the Prince Rupert advantages in transpacific shipping. We are pleased to see DP World ready to seize those advantages and move forward with planning the terminal’s continued expansion.”
The Northern expansion of the Phase II process is already underway, with the additional capacity expected to be available for shipping lines in 2017.
With the opening of that Northern portion of the Phase Two project, the the capacity of the Fairview Terminal operations would be approximately 1.3 million TEU's.
You can review more of today's announcement from this update from DP World Prince Rupert.
For more background on Fairview Terminal see our archive page here, more items related to the Port of Prince Rupert can be found on our Port archive page here.
Cross posted from the North Coast Review
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