Container shipping ports in British Columbia (B.C.) can expect more container cargo to arrive in bigger ships. To accommodate the growth, the Vancouver Fraser Port Authority (VFPA) has proposed a three-berth Terminal 2 expansion at Delta’s Roberts Bank.
The $2 billion expansion project, which has been in the planning stages since 2006 and is undergoing Canadian government environmental review, is expected to add approximately 2.4 million TEUs to the Port of Vancouver’s (PoV) annual container cargo-handling capacity. Mid-year 2017 numbers showed the port’s containerized cargo was 9.6 percent higher than the same period a year earlier.
According to shipping data company Alphaliner, global container throughput growth is on track to exceed 6 percent in 2017. Drewry projected growth in container shipping demand at approximately 5.5 percent in 2017’s second half.In fact, Simon Heaney, Drewry’s senior manager of container research, believes that 2018 could be as lucrative for container carriers as 2010 was, when the sector’s profit exceeded US$20 billion.