The Port of Vancouver has reported stable cargo volumes in the first half of 2024, down less than 1 per cent from the same time a year earlier.
According to the Vancouver Fraser Port Authority’s 2024 mid-year data, port operators and supply chain partners handled 75.5 million metric tonnes (MMT) of commerce from 1 January to 30 June 2024. The container, vehicle, and liquid bulk sectors performed particularly well.
Peter Xotta, President and CEO of the Vancouver Fraser Port Authority, said: “Our focus is on working with port operators, and partners and government to ensure a strong, reliable and innovative Pacific gateway to enable both Canada’s trade and our communities to prosper.”
While it was a record half-year for international trade (foreign traffic) through the port—up 3 per cent to 62 MMT— overall cargo volumes handled by the port dipped slightly due to a 15 per cent drop in domestic cargo, in particular volumes of forestry products, sand and gravel.
The port’s container volumes steadied in the first half of 2024, following a period of high consumer demand and supply chain disruptions caused by the pandemic.
Imports (laden inbound) increased 19 per cent as retailers restocked their inventories ahead of potential labour disputes, and some volumes appeared to shift from the east coast due to disruptions to the Red Sea trade route, while exports (laden outbound) increased 4 per cent as Canadian businesses increasingly turned to containers to ship their goods to markets around the global.
Xotta stated: “We’re pleased to see the container sector bounce back from the correction experienced in 2023, with containerised imports returning to pre-pandemic 2019 growth trends and containerized exports continuing to recover.
“However despite an incredibly strong start to the year, we did see container volumes level off in late spring due to uncertainty around Canada’s supply chains following natural disasters and ongoing labour disputes. Canada’s wealth is built on trade—and we all benefit from working together to ensure our supply chains and reputation are strong, and our country is recognised as a reliable trading partner.”
In March, the Vancouver Fraser Port Authority revealed that the Port of Vancouver’s 2023 cargo data shows a mixed year, with growth in certain industries and declines in others.