From Mid year 2024
Performances in container, cruise, auto and liquid bulk sectors lead the way, as port terminals move a first-half record 62 million metric tonnes of international trade
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.
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.
“Our focus is on working with port operators, and partners and government to ensure a strong, reliable and innovative Pacific gateway to enable both Canada’s trade and our communities to prosper,” says Peter Xotta, President and CEO of the Vancouver Fraser Port Authority, the federal agency that enables Canadian trade through the Port of Vancouver while protecting the environment.
“I want to acknowledge the work of Port of Vancouver terminals and supply chain partners for ensuring trade continues to move efficiently and reliably within a challenging environment that includes rising impacts from climate change, increasing global geopolitical tensions, and local issues such as wildfires and labour disputes.”
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 Surreyand Trans Mountain continuing to ramp up its operations.
The Port of Vancouver is Canada’s largest and most diversified port—enabling trade of approximately $300 billion in goods each year with up to 170 countries. A new Economic Impact Study released in August found that port operations sustain 132,400 jobs in the supply chain and other supporting sectors across Canada.
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.
“We’re pleased to see the container sector bounce back from the correction experienced in 2023, with containerized imports returning to pre-pandemic 2019 growth trends and containerized exports continuing to recover,” says Xotta. “However, despite an incredibly strong start to the year, we did see container volumes level off in late spring due to uncertainty around Canada’s supply chains following natural disasters and ongoing labour disputes. Canada’s wealth is built on trade—and we all benefit from working together to ensure our supply chains and reputation are strong, and our country is recognized as a reliable trading partner.”
