As the Trump-ignited global trade war continues to hit key sectors of Canada’s economy, latest Port of Montreal cargo data cited by Julie Gascon suggest Canadian exporters are striving more and more to diversify in overseas markets and rely less on the giant US market. Addressing a business audience in Montreal, the President and CEO of the Montreal Authority pointed to sharp increases in shipments to China, Spain and Africa – and stressed that the current complex geopolitical and economic environment has heightened the urgency to proceed with significantly expanding container capacity.
“In times of economic volatility all over the world, our mission is clearer than ever: provide Canadian trade with stable, efficient and diversified access to international markets,” Gascon stated.
Last year, the Port of Montreal handled 35.2 million metric tons of total cargo and 1.5 million TEUs.
While total throughput to the end of May of 14.4 million tons was down 2.1% from a year ago, container volume was up nearly 4%. And since March, monthly containerized tonnage has exceeded the previous year’s monthly average by 14%. Compared to the first two months of the year, volumes jumped 34%.
Bulk traffic also grew strongly, mainly driven by grain. In the past five months,1.95 million tons were moved, marking an 16% upswing. This is a record volume, supported by Canada’s third-best grain harvest of the century.
Big increase in trade with China, Spain and Africa
As trade tensions cause companies to reassess their export markets, the Port of Montreal is emerging as a crucial lever for diversification, port officials say. Outflows to China rose 22%, making China the MPA’s second-largest trading partner after India, which retained its lead with close to 200,000 tonnes exported since the year began.
Growth was also significantly higher for Spain (+147%), the Netherlands (+11%), Africa (+29%, notably for cocoa imports), and Latin America, with vessels 54% heavier on arrival than in 2024. Volumes to Northern Europe were also higher, climbing 10%.
Specialized products have performed well. Fruit imports soared 29%, aluminum 42%, and the pharmaceutical trade a noteworthy 18%.
Gascon stresses that the Contrecoeur container terminal project, the biggest infrastructure undertaking in the port’s history, has reached a turning point. Already receiving broad support from all levels of government, construction of the terminal could begin this year and generate 8,000 jobs during this phase.
In a recent interview, Gascon candidly remarked: “I don’t think this time around that this economic uncertainty will just vanish when Trump leaves. It’s here to stay.”
“Fortunately,” she shared, “Canada is waking up to the need to take the bull by the horns. We have to diversify our economy, find new trading partners.
“In fact, we (in Canada) have got a market of over a billion people that we can reach through existing free trade agreements with various countries. We need to maximize those relationships. We have to diversify our trade routes, strengthen our competitiveness and invest in maritime transport to offer a sustainable and reliable solution.”
Gascon recalled that the port of Montreal is strategically located for accessing the industrial heartland of the continent. “In effect, we are at the cornerstone of the third largest economy in the world if you combine the Great Lakes states, Ontario and Quebec, where 65% of the Canadian population lives within 12-70 hours of the Port of Montreal.”
If all proceeds according to a revised operational target of late 2029, the Contrecœur facility will add 1.15 million containers per year to an existing capacity of 2.1 million TEUs on Montreal Island. Due to delays and inflation, its estimated cost has ballooned to north of $1.5 billion. Offering high-velocity and green features, the terminal – whose eventual operator remains to be determined - will bolster Montreal’s attractiveness as a hub serving core markets in Quebec, Ontario and the US Midwest. CN has teamed up with the Montreal Port Authority (MPA) to integrate transport at the future facility.
Meanwhile, observers consider the Port of Montreal could be one of the beneficiaries of a pledge by the newly-elected Liberal federal government to fast-track projects of national interest. During an election campaign visit at the Port of Montreal, Prime Minister Marc Carney pledged to Inject $5 billion into a new Trade Diversification Corridor Fund to accelerate “nation-building projects” at ports, railroads, inland terminals, airports, and highways.
