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Mid-year trade volumes steady at Port of Vancouver, as container sector recovers
Performances in container, cruise, auto and liquid bulk sectors lead the way, as port terminals move a first-half record 62 million metric tonnes of international trade
Vancouver, B.C.: Cargo volumes at the Port of Vancouver were steady in the first half of 2024, decreasing less than 1% compared to the same period a year ago, as record international trade was offset by lower volumes of domestic goods.
The Vancouver Fraser Port Authority’s 2024 mid-year statistics show port operators and supply chain partners moved 75.5 million metric tonnes (MMT) of trade between January 1 and June 30, 2024—led by strong performances in the container, auto and liquid bulk sectors.
“Our focus is on working with port operators, and partners and government to ensure a strong, reliable and innovative Pacific gateway to enable both Canada’s trade and our communities to prosper,” said Peter Xotta, President and CEO of the Vancouver Fraser Port Authority, the federal agency that enables Canadian trade through the Port of Vancouver while protecting the environment.
“I want to acknowledge the work of Port of Vancouver terminals and supply chain partners for ensuring trade continues to move efficiently and reliably within a challenging environment that includes rising impacts from climate change, increasing global geopolitical tensions, and local issues such as wildfires and labour disputes.”
While it was a record half-year for international trade (foreign traffic) through the port—up 3% to 62 MMT—overall cargo volumes handled by the port dipped slightly due to a 15% drop in domestic cargo, in particular volumes of forestry products, sand and gravel.
The liquid bulk and auto sectors led the way—both handling record volumes as upgraded facilities helped boost throughput and pandemic supply chain disruptions resolved:
- A record of almost 250,000 vehicles were handled by the port’s auto terminals, which includes the Annacis Auto Terminal where an optimization project has helped increase capacity by more than one-third. Nearly 100% of Canada’s Asian-manufactured vehicle imports come through the Port of Vancouver.
- A record 7.0 MMT was moved by the port’s liquid bulk terminals, as the expanded Westridge terminal and Trans Mountain pipeline came into operation in May. Liquid bulk includes canola oil and petroleum products, with volumes expected to continue to grow with construction underway on DP World’s new canola oil export facility in Surrey and Trans Mountain continuing to ramp up its operations.
The Port of Vancouver is Canada’s largest and most diversified port—enabling trade of approximately $300 billion in goods each year with up to 170 countries. A new Economic Impact Study released in August found that port operations sustain 132,400 jobs in the supply chain and other supporting sectors across Canada.
Container volumes at the port largely recovered and stabilized in the first half of 2024, following several tumultuous years that included a pandemic-era surge in consumer demand and numerous supply chain disruptions. Imports (laden inbound) grew 19%, as retailers restocked their inventories early in anticipation of potential labour disputes and some volumes appeared to shift from the east coast due to disruptions to the Red Sea trade route, while exports (laden outbound) grew 4% with Canadian businesses increasingly turning to containers to ship their goods to markets across the globe.
“We’re pleased to see the container sector bounce back from the correction experienced in 2023, with containerized imports returning to pre-pandemic 2019 growth trends and containerized exports continuing to recover,” said Xotta. “However despite an incredibly strong start to the year, we did see container volumes level off in late spring due to uncertainty around Canada’s supply chains following natural disasters and ongoing labour disputes. Canada’s wealth is built on trade—and we all benefit from working together to ensure our supply chains and reputation are strong, and our country is recognized as a reliable trading partner.”
It was a record mid-year performance for cruise, with 554,546 passengers passing through the Canada Place cruise terminal between March and June 30. This was up 13% on the previous mid-year record of 490,119, set last year.
“Cruise continues to thrive in Vancouver—and this is testament to the hard work and dedication of everyone involved in the local industry as much as it is to the region’s natural beauty,” said Xotta. “Being a homeport destination where cruise lines base their ships for the Alaska season means benefits are spread throughout the region, from local food and beverage suppliers to ship fuel and repair providers to downtown restaurants and hotels.”
The Canada Place cruise terminal recorded its second busiest day ever on April 29 when almost 20,000 passengers passed through the terminal, while five of its top-10 busiest days ever occurred over April, May and June this year. The port authority partnered with U.S. Customs and Border Protection in June to launch facial biometrics for cruise—improving the terminal’s ability to move high numbers of cruise passengers efficiently, securely and seamlessly.
Dry bulk volumes decreased 6% in the first six months of 2024 compared to the same period last year, as last year’s record Canadian commodity export volumes eased due to lower Prairie crop yields, supply chain disruptions and lower global prices. This included grain decreasing 5%, coal decreasing 1% and fertilizer decreasing 10%.
Breakbulk volumes were also down, as an increase in metal imports (up 4% to 0.6 MMT) was offset by a decline in the volume of forestry products handled, including logs and wood pulp (down 21% to 4.7 MMT).
Background
- Overall cargo volumes declined 1% to 75.5 MMT, compared to the first half of 2023
- Container quantities increased 14% to 1.8 million twenty-foot equivalent units, or TEU. Import quantities (inbound laden) increased 19% to 930,300 TEU, while export quantities (outbound laden) increased 4% to 412,100 TEU. Empty container volumes increased 12% to 426,600 TEU.
- Bulk liquid tonnage up 43% to 7.0 MMT. Petroleum product volumes increased 53% to 5.8 MMT and canola oil volumes increased 42% to 0.4 MMT.
- Auto volumes increased 14%, reaching a record of 249,043 units
- Cruise passengers increased 13% to a record 554,546, while cruise ship visits were up 1% at 135
- Bulk dry cargo decreased 6% to 47.7 MMT, including coal down 1% to 21.1 MMT, grain down 5% to 14.1 MMT and fertilizer down 10% to 5.8 MMT
- Breakbulk cargo decreased 14% to 8.0 MMT. Forest products volumes decreased by 21% to 4.7 MMT, while metals increased by 1% to 0.7 MMT
More information
2024 mid-year cargo statistics [PDF]
Media contact
Alex Munro, Senior communications advisor
604.340.8617
About the Vancouver Fraser Port Authority and the Port of Vancouver
The Vancouver Fraser Port Authority is the federal agency responsible for the shared stewardship of the Port of Vancouver. Like all Canada Port Authorities, we are accountable to the federal minister of transport, and operate pursuant to the Canada Marine Act with a mandate to enable Canada’s trade through the Port of Vancouver, while protecting the environment and considering local communities. The port authority is structured as a non-share corporation, is financially self-sufficient and does not rely on tax dollars for operations. Our revenues come from port terminals and tenants who lease port lands, and from port users who pay various fees such as harbour dues. Profits are reinvested in port infrastructure. The port authority oversees the use of port land and water, which includes more than 16,000 hectares of water, over 1,500 hectares of land, and approximately 350 kilometres of shoreline. Located on the southwest coast of British Columbia in Canada, the Port of Vancouver extends from Roberts Bank and the Fraser River up to and including Burrard Inlet, bordering 16 municipalities and intersecting the traditional territories and treaty lands of more than 35 Coast Salish Indigenous groups. The Port of Vancouver is Canada’s largest port, and the fourth largest in North America by tonnes of cargo. Enabling the trade of approximately $300 billion in goods with up to 170 countries each year, port activities sustain 132,400 jobs, $9.3 billion in wages, and $16.3 billion in GDP across Canada.
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