AJOT Digital Edition
Issue #590 | Perishables | Mediterranean | Middle East | Africa Trade

Cover of issue-590.png

Peroshables

Mediterranean | Middle East | Africa Trade

View Issue #590 Now!

2014 Media Kit
  • Share this article:

Montreal Port Authority: the Port had a good year in 2013

By: | at 12:14 PM | Ports & Terminals  

In 2013, the Port of Montreal had another very good year despite still difficult economic conditions. In fact, it managed to maintain comparable results to those of the last two years, and to put this in context, 2011 was a record year. In 2013, the Port of Montreal handled a grand total of 28.2 million tonnes (Mt) of cargo, a slight decrease of 0.9% compared to 2012.

The President and CEO of the Montreal Port Authority (MPA), Ms. Sylvie Vachon, reported on the MPA’s activities in 2013 at the annual meeting held on May 13, 2014. Ms. Vachon also took the occasion to present the organization’s financial results. The MPA’s operating income reached $87.4 million, up 2% compared to the previous year. The increase in expenditures was contained at 1%, or $81.7 million.

Operating earnings rose 19% to $5.7 million. After investment income and other extraordinary items, net income totalled $4.2 million. The Port of Montreal handles containers, liquid bulk and dry bulk, and welcomes cruise passengers. In 2013, container traffic remained stable at 11.9 Mt compared to 12 Mt the previous year, a slight decrease of 1.1%. Factoring in the weakness of the European economy, this decrease was offset by the growing diversification of the markets served by the Port of Montreal. Similarly, liquid bulk traffic edged down 1.8% to 9.5 Mt. The year 2013 remains one of the best years for this business sector.

For its part, dry bulk traffic increased 0.2% to 6.6 Mt. One of the noteworthy increases is iron ore (up 31.9%). “In 2014, this sector will continue to grow, especially once a new partner, CanEst, starts operating a grain containerization facility at the end of the summer,” said Sylvie Vachon. On the cruise front, Iberville Passenger Terminal welcomed 69,966 passengers and crew members in 2013, setting a new record.

Highlights Record investment - In 2013, MPA facilities benefited from a record investment of $55 million. These monies were used to increase their container handling capacity by 13%, to redevelop an area of the petroleum products sector to be able to accommodate larger vessels, and to give Iberville Passenger Terminal a makeover. The year 2013 was also the post-Panamax year, when the Port of Montreal received authorization to welcome vessels up to 44 metres wide and carrying up to 6,000 containers.

Sustainable development – In 2013, the MPA continued its efforts to reduce its environmental footprint. Among other things, it used a highly innovative method to extract, solidify and reuse poor soils in the Viau sector and completed its fleet of hybrid vehicles for the security and fire prevention departments. With respect to social responsibility, the MPA strengthened its relations with its neighbouring communities, notably by setting up permanent communication channels with them.

SOURCE PORT OF MONTREAL

More about PR Newswire
PR Newswire is the leading global provider of marketing and communications solutions that let you optimize and distribute multimedia content to actively engage all key audiences, across all traditional, digital, social and mobile channels, anywhere in the world.