In the presence of Prime Minister Mark Carney, the biggest port project in Montreal’s modern history has moved a critical step forward after several decades of planning and extensive delays. Federal loan financing of C$1.16 billion through the Canada Infrastructure Bank (CIB) was announced on April 9 in support of a $2.3 billion container terminal at Contrecoeur, 25 miles northeast of Montreal on the St. Lawrence River. To be operated by DP World, with construction completion now targeted for 2030, it will handle up to 1.15 million containers annually – boosting existing capacity by 60%.
Montreal port executives see the terminal connecting with CN’s North American rail network playing a transformative role in notably meeting future demand from Europe and the Mediterranean as the federal government seeks to double non-US exports within a decade, lessen heavy trade reliance on the United States and strengthen economic sovereignty in response to the tariff war ignited by the Trump Administration. They are also determined to recover formerly substantial Midwest business that has been lost to deepened-draft US ports on the East Coast in the past few years.
According to Carney, the Contrecœur project “is about more than the expansion of a port – it is a signal that Canada is building again. With each shovel in the ground, we are building a stronger, more independent, more resilient Canadian economy. In less than seven months, this project went from a proposal to a construction site. That is the speed and ambition we need to build Canada strong.”
In a broader sense, he has affirmed: “War in the Middle East, Russia’s invasion of Ukraine and the new trade regimes are reshaping the global economy in real time. Some of these effects are immediate and profound: closing markets, disrupting supply chains, halting investments.”
The project represents a partnership across governments, the port authority and the private sector. The Government of Quebec is contributing $130 million, Transport Canada $150 million, and the full financing is to be repaid through autonomous revenues and the contribution of the private sector. DP World’s eventual financial contribution is still under negotiation.
Construction of critical in-water works including dredging, quay wall construction and other infrastructure required for vessel access and operations began in October 2025 and is being delivered by a joint venture between Aecon and Pomerleau.
In 2027, work is expected to begin on building out terminal and logistics infrastructure, with commercial operations targeted for 2030. This includes development of the intermodal yard, construction of the terminal and installation of ship-loading equipment at the site.
The CIB suggests that its participation helps minimize the project’s cost of capital, allowing the Montreal Port Authority to maintain its investment grade credit rating while preserving cash flows for ongoing operations.
Ironically enough, the massive financing component was divulged just a few days after the Montreal Port Authority (MPA) announced that Julie Gascon has “ceased her position” as President and Chief Executive Officer, effective immediately on April 3. No reason was given for what was widely interpreted as a dismissal – which remained a mystery at the time of writing. Gascon had occupied the helm of Canada’s second biggest container port after Vancouver since February 2024.
The port’s press release indicated that a committee composed of members of the Board of Directors will ensure the leadership of the organization on an interim basis in close collaboration with the members of senior management, during the recruitment process to find a replacement.
A Bold Act of Faith
“With the Contrecœur terminal expansion project actively progressing, the Port of Montreal is entering a new phase in its development, which will take place as part of a new strategic cycle for the MPA. The organization is in an excellent position to fulfill its mandate and contribute to Canada’s competitiveness in global markets,” comments Nathalie Pilon, Chair of the Board of Directors of the MPA.
Rejecting the view of some industry analysts that traffic volume at the terminal may not justify the investment, Pilon frames her thoughts with this act of faith: “Canada’s trade future depends on infrastructure that is ready before demand arrives.”
From the outset of her tenure of just over two years, Gascon underlined the importance of completing the Contrecoeur container terminal as a vital component for expanding Canadian trade diversification, especially with Europe.
The departure of Gascon also came on the heels of a recent high-profile decision by Paul Bird, chief commercial officer of the Port of Montreal in charge of the Contrecoeur expansion, to jump ship. He has moved to the executive team of ALTO seeking to organize Canada’s first high-speed passenger rail network. ALTO is in fact headed by Martin Imbleau, who was CEO of the Port of Montreal prior to Gascon.
Meanwhile, on the cargo front, total volume declined in 2025 by 3% to 34.3 million metric tons from 35.4 million tonnes in 2024, and the containerized sector posted an increase of 3.6% at 1.5 million TEUs. The early months of 2026 showed a single-digit decline in total and container cargo.
Port of Halifax
For its part, the Port of Halifax released annual statistics which show a 10.4% decline in total traffic and a marginal drop in container cargo in 2025. Global geopolitical pressures, shipping alliance shifts and economic uncertainties have continued to impact results, the port said.
Total throughput amounted to 8.6 million metric tons versus 9.6 million tons in 2024.
Exports remained stable throughout the year, with strong performance in the first three quarters tapering in the fourth quarter. A 1.4% container cargo decline to 502,000 TEUs overall from 509,000 TEUs in 2024 stemmed from the absence of one-off diversions or ad hoc calls later in the year, the port noted.
Port of Saint John
In a year that saw the completion of investments totalling $247 million at its west side container terminal, Port Saint John touted 2025 as a banner year for container operations at the growing global gateway in New Brunswick.
Container volumes increased by 29.4% between 2024 and 2025, rising from 184,879 TEUs to 239,364 TEUs. Compared to 86,949 TEUs in 2021, this represents a five-year container throughput growth of 175.2%. Highlights include a new Mediterranean service by Hapag-Lloyd to the Port of Saint John.
