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A report on the drop of cargo volumes in 2022 for Port facilities and how
the Prince Rupert Port Authority plans to diversify to improve expectations
for the future has been released this morning |
A report from the Prince Rupert Port Authority has outlined some of the data from 2022 and among their notes is a review of the factors that have led to the overall drop in cargo volumes for the second year in a row at the facilities that make for the Prince Rupert Gateway to the world.
The Port observes that the 2022 volumes were two percent behind those of 2021 outlining a range of conditions that have brought those results.
The Prince Rupert Port Authority (PRPA) announced today that 24.6 million tonnes of cargo moved through the Port of Prince Rupert in 2022, two percent behind 2021 volumes.
The slight year-over-year decrease reflects the mounting challenges brought on by supply chain disruptions affecting imports and exports, rapidly changing energy demands, and geopolitical tensions over the past 12 months.
Despite the current volatility, considerable strides were made toward developing a more resilient and sustainable trade gateway in the near and long-term through further diversification, new capacity, and expanded services.
Declines in shipments for 2022 were seen at the Prince Rupert Grain Terminal and Fairview Terminal, while Trigon Pacific Terminals, AltaGas RIPET, DRAX's Westview Wood Pellet Terminal and the Watson Island Bulk Terminal did see some increases in the year just ended.
The full review of cargo shipping data is available here.
The review also notes of the improved numbers for the Cruise industry in 2022 and the prospect of growth with a new Terminal Operating agreement in place with Global Ports Holding.
Key to the statement from today however, is the need to diversify in order to become more competitive in and adaptive towards the global shipping industry, with Shaun Stevenson, President and CEO at the PRPA noting of projects in development as a significant part of that focus and ones that could define the future for the Port and the community.
“The Port of Prince Rupert needs to evolve its services and capabilities, or our Gateway’s competitiveness will erode.
Global trade and supply chains are changing rapidly, and we must adapt.
It highlights the importance of the projects that are currently in development, including container terminal and logistics service expansions, as well as the expansion and diversification of existing terminals and creation of new export facilities needed to support Canada’s role in global energy security.
As these projects reach critical decision points, 2023 will define the future of the Port of Prince Rupert.”
Among the projects that the Port notes as critical to the expansion and growth for the trade gateway include:
Vopak Pacific Canada, Fairview Terminal Southern Expansion, South Kaien Import Logistics Terminal, Ridley Island Export Logistics Platform.
The Port President and CEO concludes the review of the current status of movements through the port with a note on the challenges of developing the gateway and the potential investment for the future.
“We are focused on continuing the challenging task of developing a dynamic gateway that serves Canada’s trade needs and plays an important role in aiding the global energy transition.
The Port has the opportunity to secure over $2 billion in new project investment in 2023, which represents supply chain capacity and resiliency for the country, and new employment, economic opportunity and tax base for the local community and region.
PRPA’s commitment to realizing a vision of a competitive, diverse, sustainable gateway will ensure we continue to build a better Canada, and a better Prince Rupert, by growing trade.”
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