As part of the annual meeting of the Montreal Port Authority (MPA), Sylvie Vachon, President and CEO of the MPA, presented its 2016 year-end results. Under the theme “Broadening our Horizons,” the 2016 annual report shows how the MPA was able to stand out on several fronts, from its results and the successful completion of major projects to greater visibility on the international scene and many substantial actions in the field of sustainable development.
Ms. Vachon summed up 2016 as follows: “Innovation, major projects and ongoing market diversification are some of the key elements that enable us to maintain our role as an efficient hub of global trade. Our 2016 results speak for themselves in all of these respects.”
Again this year, the Port of Montreal received a record volume of goods, 35.4 million tonnes, up 10.4% compared to last year despite weak economic growth. More specifically, the container market remained stable, with 13.1 million tonnes of containerized cargo handled at the Port of Montreal. In addition, it celebrated the 50th anniversary of the first containers arriving at its facilities. Also noteworthy, it is the largest container port in Eastern Canada and the only such port on the St. Lawrence River.
Liquid bulk enjoyed a 37.4% upswing over 2015, with 13.7 million tonnes handled. At 8.4 million tonnes, there was a dip in dry bulk such as the grain, sugar and iron ore that transited through the Port, down 3.7% from 2015.
On the cruise front, last year at its alternative cruise terminal, the Port of Montreal welcomed close to 86,000 passengers and crew members. This slight decrease compared to 2015 was mainly due to the shutdown of a cruise line. In 2017, at its new cruise terminal, the Port of Montreal expects to welcome about 110,000 passengers and crew members, a record cruise season.
Regarding financial results, operating revenues reached $106.7 million, up 4%, while expenses were limited to $84.1 million, a mere 0.9% over the previous year. Accordingly, taking into account financial products, we achieved net earnings of $23.5 million, which will be reinvested in Port infrastructures and projects.
On November 18, 2016, the Port of Montreal and its partners inaugurated the new Viau international container terminal that, when completed, will bring the Port of Montreal’s total handling capacity to 2.1 million TEUs in Montreal. The Government of Canada, Termont Montreal and the MPA invested to improve these Port infrastructures.
The rehabilitation of Alexandra Pier and the cruise terminal continued in 2016. The MPA will be front and centre in the festivities for Montreal’s 375th anniversary, as the terminal will be up and running to welcome the cruise ships that call at the Port in 2017. The works will continue through the summer to finish developing the public space. The Government of Quebec, the City of Montreal and the MPA contributed financially to this project.
Other major projects were carried out during the year: development of the Boucherville Street truck entrance; ongoing implementation of the electronic navigation system; and the launch of a Web application for truck drivers to improve traffic flow and mobility on Port territory.
Ever attentive to maintaining harmonious relations with its neighbours, the MPA continues to invest in the community, mainly through its community investment policy and by organizing Port in the City Day.
At the annual meeting, the new Chair of the Board, Marie-Claude Boisvert, was introduced. She will succeed Anik Trudel, who is leaving on June 17 after nine years as a Board member, the maximum term allowed under the Canada Marine Act. Ms. Vachon thanked Ms. Trudel for her contribution and dedication to the MPA Board of Directors.
About the Port of Montreal
Operated by the Montreal Port Authority (MPA), the Port of Montreal is the second largest port in Canada and a diversified transshipment centre that handles all types of goods: containerized and non-containerized cargo, liquid bulk and dry bulk. It is a leading container port served by the largest container shipping lines in the world.
The Port of Montreal has its own rail network directly dockside. It is connected to the two national rail networks and a highway system. The Port operates a passenger terminal. All other terminals are run by private stevedoring firms. Port activity supports 16,000 jobs and generates $2.1 billion in economic benefits annually.