VANCOUVER: The Port of Vancouver, Canada’s largest port, has reported a record increase in cargo traffic this year. The Vancouver Fraser Port Authority announced that the port handled a total of 85 million metric tonnes (MMT) of cargo in the first six months, marking a 13% increase compared to the same period last year.
The primary catalyst for this substantial growth has been the start of the Trans Mountain Pipeline expansion project, which began operations in May of last year.
The most significant increase was seen in crude oil exports, which have quintupled (increased by nearly five times) compared to the first half of last year. According to the Authority’s data, 60% of the exported crude oil was shipped to China. Furthermore, canola oil exports also saw a major boost, increasing by 72% to reach 700,000 metric tonnes.
This record achievement comes at a time when Canada is actively working to diversify its trading relationships beyond the United States. The Port of Vancouver plays a crucial role in this strategy, with over 80% of the products passing through the facility destined for non-U.S. markets.
“Vancouver Port holds a critical position in helping Canadian traders deliver products to customers beyond the U.S.,” stated Peter Schou, CEO of the Port Authority.
As the fourth-largest port in North America, the Port of Vancouver independently handles as much cargo as the next five largest Canadian ports combined, underscoring its vital economic significance to the country.
