Manufacturing
A New Canadian Port Shows Strong Growth in a Down Economy
By Seattle Business Magazine January 26, 2010
The Port of Prince Rupert, our new competitor northwestern Canada, is seeing strong growth in spite of weakness in the global economy. The port handled 12 million tons of cargo in 2009, up 15 percent from the year before, and the highest level since 1997.
Its primary containter terminal handled 265,259 TEUs (20-foot equivalent units) in 2009, a 45.9 per cent increase over 2008, despite a global downturn that has seen shrinking container traffic in other west coast ports.
The port has aggressive plans to continue expanding capacity to handle container traffic and could ultimately prove to be a major competitor to Puget Sound ports in passing through cargo headed for the Midwest.
“We have demonstrated the competitive advantages of the Port of Prince Rupert as a gateway for transpacific container trade,” said Prince Rupert Port Authority President & CEO Don Krusel. “Our continued growth reflects the increasing confidence and satisfaction of our customers with the quality of service they are receiving through the Prince Rupert Gateway.”
On the bulk cargo side of the business, Prince Rupert Grain (PRG) volumes jumped 35.1 per cent to 5 million tons, the terminal’s highest throughput since 1994. Wheat shipments, the core of the port’s business, were up 55.8 per cent to 4.6 million tons, offsetting decreases in volumes for barley, canola and grain pellets.
Suffering a sharp decline was the port’s cruise business, which plunged 47 percent as a result of the loss of a weekly cruise vessel port of call in 2009.