ARCHIVE

High-flowing half for Port Metro Vancouver

CANADA's largest port complex, Port Metro Vancouver, hit cargo records for the first half of this...

Donna Schmidt

This article is 12 years old. Images might not display.

Collectively, PMV handled 66.4 million tonnes of cargo between January and June a 6.3% jump year-on-year. The group said the expansion of its coal facilities helped it deliver big results, with record volumes of coal shipped.

Bulk commodities made up the majority of the rise at 46.2Mt, helping offset losses in sectors including lumber. That total, too, was an 8.7% rise from 42.5Mt over the same six-month period last year.

The volumes also reflected demand for Canadian commodities by Asian economies and the growing strength of Canada’s economy, officials said.

“In each of coal, grain, potash and containers, we’re at record levels for the half-year,” CEO Robin Silvester said.

“It’s a really encouraging picture and shows the strength of demand for BC [British Columbia] and Canadian natural resources and the ability of the port to meet that demand.”

PMV said coal export volumes hit a record 18Mt in the half, up 9% from 2012’s comparable half. That result was achieved despite still-slumped prices and the long-down market.

“What we have seen to the mid-point in 2013 is continuing strong demand for Canadian natural resources, with all the major economic benefits that provides for the local and national economy," Silvester said.

“We also continue to focus on environmental improvement and engaging with local communities most impacted by a busy and growing port.”

Scotiabank economist Patricia Mohr told the Vancouver Sun that record exports of steelmaking coking coal from Australia and the US, along with Japan’s demand slowing had been part of what pushed prices down.

Mohr, in a new Commodity Price Index report, noted world prices were down to $145/t in the second quarter, down from the first quarter’s $175.

However, she said, PMV customers were not put off by the reduction and continued shipments at record pace.

PMV is North America's largest export port by tonnage, and trades $172 billion in goods annually with more than 160 trading economies.

TOPICS:

Expert-led Insights reports built on robust data, rigorous analysis and expert commentary covering mining Exploration, Future Fleets, Automation and Digitalisation, and ESG.

Expert-led Insights reports built on robust data, rigorous analysis and expert commentary covering mining Exploration, Future Fleets, Automation and Digitalisation, and ESG.

editions

ESG Index 2025: Benchmarking the Future of Sustainable Mining

The ESG Index provides an in-depth evaluation of the ESG performance of 60+ of the world’s largest mining companies. It assesses companies across 10 weighted indicators within 6 essential ESG pillars.

editions

Automation and Digitalisation Insights 2025

Discover how mining companies and investors are adopting, deploying and evaluating new technologies.

editions

Mining IQ Exploration Insights 2025

Gain exclusive insights into the world of exploration in a comprehensive review of the top trending technologies, intercepts, discoveries and more.

editions

Future Fleets Insights 2025

Mining IQ Future Fleets Insights 2025 looks at how companies are using alternative energy sources to cut greenhouse gas emmissions