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| The Port of Prince Rupert will host its Annual Public Meeting tomorrow using a Virtual method of delivery this year owing to the COVID pandemic |
One day before the Port of Prince Rupert hosts its Annual Public Meeting presentation, they have provided a snapshot of this moment in time in the midst of the global COVID pandemic, charting the course so far for the Port as it continues to find strong returns despite the global uncertainty.
In an update posted to the Port of Prince Rupert website, the diverse nature of the product that is shipped in and out of the Port is hailed as making for the buffer in these times of the pandemic, something noted by Port or Prince Rupert President and CEO Shaun Stevenson.
“As the Port of Prince Rupert continues to grow and expand the cargo moving through the gateway, we have witnessed firsthand how vital a diverse port complex is. The COVID-19 pandemic has created global economic uncertainty, and through this challenging situation, the Prince Rupert gateway has not only remained fluid, but year-to-date volumes are above last year’s. This reinforces why the Prince Rupert Port Authority and our partners are working to diversify the Port of Prince Rupert and further increase our resiliency as a gateway.”
As for the statistical review, despite a global economic slowdown, long periods of inactivity in export markets and general uncertainty in the global shipping industry, the Port has recorded an increase in volume in its latest Year to Date review.
Overall, the Port of Prince Rupert’s cargo volume is up 9% with 12,615,661 tonnes of cargo handled year-to-date, led by strong dry bulk volumes both for the month and year-to-date.
Leading the way to overseas markets are the export facilities on Ridley Island.
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| Photo from RTI website |
Ridley Terminals is experiencing the biggest growth in volume, up 68% from May 2019 volumes and up 39% year-to-date. The addition of propane volume from the AltaGas Ridley Island Propane Export Terminal, which has been operating for just over a year, has also contributed to the steady overall performance of the Port. As well, with strong demand for wood pellets, Westview Terminal is experiencing growth of 24% year-to-date.
The hardest hit area of port operations is the container port however, which has seen a marked decrease in volumes from this time last year.
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| Photo from Port of Prince Rupert |
The intermodal sector has been the most impacted by the COVID-19 crisis, with a decrease in the movement of cargo on the entire trans-Pacific trade route. Volume at Fairview Terminal reveals a 12% decline year-to-date, though laden volumes have only decreased 6%. Throughput at Fairview Terminal declined 37% from May 2019, a significant decrease in volumes and employment hours that reflects the impact of containment measures in North America as a result of COVID-19.
The May review shows improved numbers for the Westview Pellet Terminal, while Prince Rupert Grain is somewhat off its numbers of one year ago to this point, the full overview of the output charts can be found here.
As they look to rebound as global confidence improves, the Port noted some of the strategic advantages that Prince Rupert has to offer.
The Port of Prince Rupert is an important trade gateway on the trans-Pacific and as such, is not immune from volatile market conditions. The Port of Prince Rupert is unique in that much of the cargo handled through Fairview Terminal is entirely discretionary and can move through other west coast ports; as a result, the Prince Rupert Gateway relies on its ability to move goods with speed, reliability and reach to provide shippers advantage in their supply chains.
Towards what could be a preview of tomorrow's Annual Public Meeting, the Port's information release of today highlights both some of the current and upcoming investments as well as their efforts to maintain vital supply chains when they are needed the most.
The Port of Prince Rupert has worked diligently to ensure the continued global movement of goods happens safely and efficiently, and the ongoing delivery of essential services that are critical to North America’s response to COVID-19. Together, the 6,200 people working in the gateway industry in northern British Columbia are maintaining strong supply chains.
With over $50 billion in cargo being handled at the Port of Prince Rupert each year, generating $1.5 billion in economic activity in northern British Columbia, the Port of Prince Rupert is also ensuring that critical Canadian industries like forestry, mining, agriculture and natural gas can successfully work through these unprecedented challenges. Maintaining Canada’s export base during this period will be important to the economic recovery in the months and years to come.
The Port CEO also made note of the work and dedication of those who work as part of the waterfront and associated industries to keep operations moving forward.
“The efforts of the Port of Prince Rupert’s workforce and their employers to make this happen deserve a salute. Because of them, the gateway has been able to maintain volumes, activities and employment at close to normal levels.”
As part of the Port's COVID response, unlike past years, tomorrow afternoons Annual Public Meeting will be a Virtual Meeting, streamed live through the Port website.
The review of the past year and look ahead to what may come in the future will get underway at 5PM, some background on what to expect can be found from our notes of May 11th.
For more notes on the Port of Prince Rupert see our archive page here.
Further notes on the many Terminal operations that take place on the Prince Rupert waterfront can be reviewed from our archive here.
Cross posted from the North Coast Review.
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