Freight News, Sea

Montreal Port Authority Continues Momentum

[ May 17, 2018   //   ]

For the fourth year in a row, the total volume of goods handled at the Port of Montreal has risen to new historic highs. For 2017, it hit 38 million tonnes, 7.6% higher than 2016.

The port posted volume growth in every sector: containerized and non-containerized cargo, liquid and dry bulk. The volume of containers handled at the Port of Montreal rose 5.8% in 2017 compared to the previous year, from 13.1 to 13.8 million tonnes.

According to Sylvie Vachon, President and CEO of the Montreal Port Authority (MPA), who presented the results and activities for 2017 at MPA’s annual meeting, two growth drivers largely explain these very good results: the markets of Asia and the Mediterranean, which posted respective increases of 14% and 21% in international traffic.
Turning to dry bulk, the results show an increase of 10.8% in 2017, reaching 9.3 million tonnes, with notable increases in iron ore, salt and metal scrap. Liquid bulk traffic totaled 14.7 million tonnes, up 7% over 2016.

Regarding financial results, operating revenues reached C$112.7 million, an increase of 5.6% compared to 2016, while expenditures amounted to C$90.4 million. This brings the operational result to C$22.3 million. Taking investment income into account, net income for the year is C$23.1 million.

MPA experienced a year rich in achievements and projects. A project to upgrade port infrastructure worth C$120 million got underway. This involves optimizing the port’s intermodal network; expanding the short sea shipping vocation; developing bulk terminals; and upgrading wharf fenders and pier rehabilitation.
The port received C$40 million in financial support from the Government of Quebec under the Maritime Strategy’s Marine Transportation Infrastructure Investment
Support Program, as well as C$18.4 million from the federal government
under the National Trade Corridors Fund.