In 2023, the Port of Prince Rupert handled 23.5 million tonnes of cargo, translating to a decrease of 5% compared to the volumes recorded in the previous year.
According to a statement, this marks the third consecutive year of declining volume and reflects the challenges posed by the dynamic nature of global shipping routes, subdued demand for imports, and the competitive landscape with other North American trade gateways for discretionary cargo.
Nonetheless, amidst the volume decline, significant milestones were achieved in 2023, which underpin the ongoing transformation of the trade gateway towards enhanced competitiveness, resilience, and sustainability in both the short and long run.
“The Port of Prince Rupert is at a critical juncture, and we are focused on actively expanding the services, capacity, and capabilities required to strengthen our competitive advantage that trade partners and industry have come to rely on and grow our gateway,” stated Shaun Stevenson, president and CEO of Prince Rupert Port Authority.
In 2023, DP World Prince Rupert’s Fairview Container Terminal experienced a notable 32% reduction in volumes. This significant decline can be attributed to a broader decrease in North American intermodal imports and intensified competition along Transpacific trade routes.
Additionally, terminal performance was adversely affected by labour disruptions, resulting in a 13-day halt in operations during the thrid quarter of the year.
Despite these challenges, there was robust demand for Western Canadian energy products during the year. AltaGas’ Ridley Island Propane Export Terminal reported a substantial increase, shipping nearly 2 million tonnes, marking a 13% rise compared to 2022.
Also, Pembina’s Watson Island LPG Bulk Terminal, in its third year of operations, handled close to 494,000 tonnes, marking an 8% decrease year-over-year. Drax’s Westview Wood Pellet Terminal shipped 1.3 million tonnes to markets in Europe and Asia.
Moreover, Trigon Pacific Terminals had a prosperous year, moving 8.8 million tonnes of dry bulk products through its terminal, including 5.4 million tonnes of metallurgical coal. Shipments of this product witnessed a remarkable 51% surge over the previous year.
Shaun Stevenson said, “The 2023 results underscore the importance of the projects already underway to develop large-scale transloading infrastructure and build new energy export facilities. These developments will open a new chapter in intermodal trade at the Port and anchor Canada’s role in global energy security for decades to come.”
Prince Rupert Grain benefited from a more robust harvest year, resulting in the shipment of nearly 3.6 million tonnes of agricultural products from western Canada, marking an 11% increase compared to the previous year.
Another Port of Prince Rupert’s notable project is the commencement of construction on the Ridley Island Export Logistics Project, a groundbreaking large-scale facility valued at US$750 million.
This innovative facility will facilitate rail-to-container transloading for various export products. RayMont Logistics will be responsible for developing and operating the transload facilities, which are expected to have an annual capacity of 400,000 TEUs. Operations are scheduled to commence in the third quarter of 2026.
Furthermore, the Ridley Energy Export Facility, established through a joint venture between AltaGas and Vopak, secured a long-term lease for a 769,000 square meters site under the administration of the Prince Rupert Port Authority.
This proposed terminal aims to develop infrastructure capable of accommodating over 7 million tonnes of various liquid bulk cargoes, including environmentally friendly energy sources like propane, butane, and methanol. Initial works on the bulk liquid storage and export facility commenced in the fourth quarter of 2023, with a Final Investment Decision expected in the second quarter of 2024.
