(Shannon Lough / The Northern View)

Prince Rupert Port Authority hits record cargo volume but a decline in revenues for 2018

PRPA held its Annual Public Meeting on Monday, June 17

Last year saw a total of 26.7 million cargo volumes moving through the Port of Prince Rupert, representing a new record for the Prince Rupert Port Authority (PRPA) and an increase of 10 per cent from 2017.

PRPA presented their financial statements and annual report on Monday, June 17, at their Annual Public Meeting hosted at The Crest.

Despite an increase in cargo, revenues for PRPA have gone down by $2.5 million, representing a four per cent decline from 2017, which saw a total of $62 million in revenue. Net income for 2018 totalled $25.2 million.

READ MORE: Port of Prince Rupert president on growing trade in 2019

All shipments, with the exception of bulk grain, experienced a growth of nine to 21 per cent. The biggest decline in shipments was barley, which went down by 67 per cent. Canola shipments experienced a decline of 32 per cent and petroleum coke declined by 12 per cent. Metallurgical coal saw the biggest increase in shipment at 40 per cent.

Projects

Prince Rupert saw its one millionth container unit go through the port in 2018 as the Fairview Container Terminal successfully hit its milestone. In 2017 DP world completed its expansion project which allowed the annual capacity for containerized cargo to hold more than 1.35 million TEUs. DP also announced in 2018 that they plan to continue expanding the terminal to keep up with demand, hoping to reach a 1.8 million TEU capacity by 2022.

READ MORE: Prince Rupert Port Authority Container Terminal Master Planning Confirms Potential of Second Terminal identified as Next Phase of Development

The $500 million Ridley Island Propane Export Terminal, designed to ship 1.2 million tonnes of propane annually, continued their construction which allowed the port to make history in 2019 when it saw the first propane shipment from Canada’s west coast.

It was also announced that the Vopak Development Canada Inc. plans to build a gas storage facility on Ridley Island for the purpose of shipping propane, diesel and methanol to customers in Asia is currently in the environmental assessment phase.

Only 23 vessels were called to port in 2018, two cruise ships less than anticipated, bringing 9,000 visitors to Prince Rupert, a decline from 2017 which saw 25 ships and approximately 12,600 passengers.


Jenna Cocullo | Journalist
Jenna Cocullo 
Send Jenna email
Like the The Northern View on Facebook
Follow us on Twitter

Port of Prince Rupert

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Necropsy for Port Edward wolf is inconclusive

Samples sent for forensic analysis; wolf sightings continue

Seafest parade sails on June 27

Tides are turning during COVID-19 for Prince Rupert parade

Prince Rupert school district fires superintendent

Dr. Irene LaPierre removed from position immediately.

B.C. government eyes antlerless moose harvest increase in bid to save caribou

Antlerless moose hunts reduce predation for threatened mountain caribou, says ministry

Wolf killed in Port Edward

Samples to be sent to lab. for testing

March dental conference key to many of B.C.’s COVID-19 cases

Early infections from China, Iran were quickly contained

MAP: Dr. Henry reveals which B.C. regions have seen most COVID-19 cases

B.C. health officials release a first look at how the novel coronavirus has reached all corners of the province

Tla-o-qui-aht First Nation woman, 26, fatally shot by police in Edmundston, N.B.

Police were conducting a well-being check at the time of the incident

Seniors to receive up to $500 in promised COVID-19 emergency aid in early July

The Liberal government first promised the extra help in mid-May, but had to create a new system to deliver the aid

Introducing the West Coast Traveller: A voyage of the mind

Top armchair travel content for Alaska, Yukon, BC, Alberta, Washington, Oregon and California!

VIDEO: Revelstoke bear wanders into Animal House pet store

Staff got ready to chase it out with a broom

New study is first full list of species that only exist in Canada

Almost 40 per cent of them are critically imperilled or imperilled and eight are already extinct

Federal aid for care home systems needed ahead of second wave, advocates say

Ontario Long Term Care Association calling for more action

Most Read