The Port of Prince Rupert is holding their annual general meeting on Tuesday, June 20, 6-8 p.m. at the North Coast Convention Centre to review and discuss the 2016 annual report and to celebrate 10 years of operation.
“It’s a natural time to reflect on the past decade,” Bud Smith, chair of the port’s board of directors and Don Krusel, president and CEO said in the welcoming message of the 2016 annual report.
The message also highlights the port’s growth as a gateway for Canadian trade, citing Prince Rupert’s strategic location and the partnerships built with supply chain partners as key factors to the continuing success of the Fairview terminal.
Highlights
- A four per cent decrease in total cargo volume from the previous year.
- Eight per cent increase in cargo-loaded export containers.
- $1 million contribution to the Community Investment Fund for a total of $4 million since 2010.
- Navigational safety: Providing AID (automatic identification systems) to local fishing vessels and ferries allowing the Coast Guard and B.C. coast pilots to track the location of vessels regardless of weather or time of day.
- 22 per cent increase in biofuel shipped through the wood pellet terminal.
- 10 per cent decline in annual coal volumes through Ridley Terminals Inc.
- 106 per cent growth in cruise passengers through the cruise terminal.
- $49.2million in net income.
Cargo in and out of the terminal has also seen some fluctuations with metallurgical coal (used for making steel) shipments dropping to 815,000 tonnes last year, a drop of 50 per cent.
The largest increase in cargo came from oats, which at 104,806 tonnes, reflected an increase of 235 per cent.
Containerized cargo shipments were down 5 per cent overall from the previous year.
The largest decrease was in textile and accessories shipments with 57,045 TEU (twenty-foot equivalent unit [container]) reflecting a 21.8 per cent decrease. With 125,061 TEU shipments, auto parts saw an increase of 72.3 per cent from the previous year.
Remuneration increases for directors and senior staff
The remuneration levels for the five directors, chairperson and eight senior staff saw healthy increases from 2015 to 2016 with an overall increase of 7.76 per cent (see chart for details.)
More to come following the AGM.