Port of Vancouver cargo volumes down less than 1% in H1 2024
Cargo volumes at the Port of Vancouver were steady in the first half of 2024, decreasing less than 1% compared to the same period a year ago, as record international trade was offset by lower volumes of domestic goods, according to the company's release.
The Vancouver Fraser Port Authority’s 2024 mid-year statistics show port operators and supply chain partners moved 75.5 million metric tonnes (MMT) of trade between January 1 and June 30, 2024—led by strong performances in the container, auto and liquid bulk sectors.
While it was a record half-year for international trade (foreign traffic) through the port—up 3% to 62 MMT—overall cargo volumes handled by the port dipped slightly due to a 15% drop in domestic cargo, in particular volumes of forestry products, sand and gravel.
The liquid bulk and auto sectors led the way—both handling record volumes as upgraded facilities helped boost throughput and pandemic supply chain disruptions resolved:
A record of almost 250,000 vehicles were handled by the port’s auto terminals, which includes the Annacis Auto Terminal where an optimization project has helped increase capacity by more than one-third. Nearly 100% of Canada’s Asian-manufactured vehicle imports come through the Port of Vancouver.
A record 7.0 MMT was moved by the port’s liquid bulk terminals, as the expanded Westridge terminal and Trans Mountain pipeline came into operation in May. Liquid bulk includes canola oil and petroleum products, with volumes expected to continue to grow with construction underway on DP World’s new canola oil export facility in Surrey and Trans Mountain continuing to ramp up its operations.
Container volumes at the port largely recovered and stabilized in the first half of 2024, following several tumultuous years that included a pandemic-era surge in consumer demand and numerous supply chain disruptions. Imports (laden inbound) grew 19%, as retailers restocked their inventories early in anticipation 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) grew 4% with Canadian businesses increasingly turning to containers to ship their goods to markets across the globe.
It was a record mid-year performance for cruise, with 554,546 passengers passing through the Canada Place cruise terminal between March and June 30. This was up 13% on the previous mid-year record of 490,119, set last year.
The Canada Place cruise terminal recorded its second busiest day ever on April 29 when almost 20,000 passengers passed through the terminal, while five of its top-10 busiest days ever occurred over April, May and June this year. The port authority partnered with U.S. Customs and Border Protection in June to launch facial biometrics for cruise—improving the terminal’s ability to move high numbers of cruise passengers efficiently, securely and seamlessly.
Dry bulk volumes decreased 6% in the first six months of 2024 compared to the same period last year, as last year’s record Canadian commodity export volumes eased due to lower Prairie crop yields, supply chain disruptions and lower global prices. This included grain decreasing 5%, coal decreasing 1% and fertilizer decreasing 10%.
Breakbulk volumes were also down, as an increase in metal imports (up 4% to 0.6 MMT) was offset by a decline in the volume of forestry products handled, including logs and wood pulp (down 21% to 4.7 MMT).
The Vancouver Fraser Port Authority is the federal agency responsible for the shared stewardship of the Port of Vancouver. The port authority oversees the use of port land and water, which includes more than 16,000 hectares of water, over 1,500 hectares of land, and approximately 350 kilometres of shoreline. Located on the southwest coast of British Columbia in Canada, the Port of Vancouver extends from Roberts Bank and the Fraser River up to and including Burrard Inlet, bordering 16 municipalities and intersecting the traditional territories and treaty lands of more than 35 Coast Salish Indigenous groups. The Port of Vancouver is Canada’s largest port, and the fourth largest in North America by tonnes of cargo. Enabling the trade of approximately $300 billion in goods with up to 170 countries each year, port activities sustain 132,400 jobs, $9.3 billion in wages, and $16.3 billion in GDP across Canada.
