Particle.news
Download on the App Store
3 ARTICLES
·
2mo ago

Port of Vancouver Sets Cargo Record in 2024 with Oil and China Trade Growth

Surging crude oil exports and increased trade with China drove a 5% rise in cargo volumes at Canada’s largest port last year.

Trucks carrying cargo containers arrive at the Port of Vancouver Centerm container terminal, in Vancouver, on Friday, October 14, 2022. THE CANADIAN PRESS/Darryl Dyck
A ship is seen docked at Global Container Terminals Inc.'s Vanterm facility at the Port of Vancouver on Oct. 21, 2024.
The container ship MSC Utmost VIII is seen docked at port, in Vancouver, B.C., on Thursday, July 25, 2024.

Overview

  • The Port of Vancouver moved a record 158 million tonnes of cargo in 2024, marking a 5% increase from the previous year.
  • Crude oil exports surged by 527%, fueled by the Trans Mountain pipeline expansion, which tripled pipeline capacity at a cost of $34 billion.
  • Canada-China trade at the port hit a record 45.8 million tonnes, with exports accounting for 78% of the volume, as Canada pursued trade diversification in Asia.
  • Container traffic rose 11%, recovering to pre-pandemic levels, while vehicle imports reached a record 470,000 units, reflecting strong demand for consumer goods and cars.
  • Environmental concerns remain over the Roberts Bank Terminal 2 expansion project, which aims to boost container capacity but faces criticism for potential harm to wildlife and ecosystems.