Vancouver more stable than other west coast ports

VANCOUVER — Port Metro Vancouver says there are bright spots in coastal shipping trends despite weak worldwide demand.

The Port insists that its 2008 year-end numbers show it has demonstrated "stability and resiliency" during this period.

While overall tonnage of 114,559,973 metric tonnes declined 10 percent compared to 2007 — mainly due to the waning appetite of China for raw materials — auto and container sectors remain stable in contrast to other West Coast ports.

Commodities such as coal, potash and petroleum products experienced moderate increases. In contrast, breakbulk, mineral and forest product volumes were significantly lower.

"Our Port’s statistics clearly reflect the interconnectedness of global trade," said Captain Gordon Houston, President and CEO, Port Metro Vancouver. "We are certainly not immune to the effects of current economic conditions, but at the same time a number of factors, such as our high degree of diversification and focus on the Canadian market, have allowed Port volumes to remain relatively stable compared to many of the Port’s competitors."

Port Metro Vancouver say sit has nearly
40% marketshare of north pacific ports

Bright spots, officials say, included coal volumes that increased by 3 percent. Among the products in that sector, crude oil exports experienced a modest increase of 3 percent, while gasoline surged by almost 50 percent.

Market conditions had varying effects on grain moving thought the Port, which at 13,580,273 tonnes declined 7 percent, though, while letters of credit issues negatively affected specialty crops such as pulses, corn, oats and rye.

Results in the fertilizer sector were mixed, with exports in sulphur ending the year down by 11 percent.

Breakbulk volumes experienced the most significant decline, at 25 percent due in large part to challenges related to B.C’s forestry sector.

Port Metro Vancouver reportedly remains the leader in container traffic among Pacific Northwest ports with a 38 percent market share. Overall container statistics were largely unchanged from the previous year, at 2,492,107 TEU (twenty-foot-equivalent unit).

"The ongoing downturn in the economy and erosion of consumer confidence led to a decline in container imports in the latter part of the year, while wavering demand and letters of credit issues had an effect on containerized exports of forest products and specialty crops," the company says.