The Montreal Port Authority expects its key containerized cargo traffic will grow by 10 per cent this year, up from 9.4 per cent last year and the five-year average of 6.8 per cent, CEO Patrice Pelletier said Thursday.
Globalization continues to boost international commerce, he said after the MPA's annual meeting, and Montreal will gain from the lower U.S. dollar. U.S. exports are much more competitive in Europe and containers from the big Chicago and Midwest manufacturing hub can move by rail to Montreal and on to Europe via the North Atlantic "bridge" at attractive rates.
But Montreal must invest heavily to compete with New York and other U.S. Eastern ports, he added. He will reveal details of the Port's "Vision 2020" long-term strategic plan later this month.
Globalization continues to boost international commerce, he said after the MPA's annual meeting, and Montreal will gain from the lower U.S. dollar. U.S. exports are much more competitive in Europe and containers from the big Chicago and Midwest manufacturing hub can move by rail to Montreal and on to Europe via the North Atlantic "bridge" at attractive rates.
But Montreal must invest heavily to compete with New York and other U.S. Eastern ports, he added. He will reveal details of the Port's "Vision 2020" long-term strategic plan later this month.