Wednesday, September 9, 2009

Port of Montreal Looks Forward to Upturn

Investment in Port Facilities Despite Decrease in Current Cargo Levels
Shipping News Feature

MONTREAL, CANADA –Despite the recession, and shrinking cargo volumes through the Port of Montreal during the first half of this year, there will be an input of C$9 million of Federal money to improve entry and exit facilities within the Port. The fiscal stimulus will be matched by the equivalent amount of funds from the Montreal Port Authority to improve Port logistics and speed hauliers’ passage to and from loading and discharge points.

Montreal Port Authorities CEO Sylvie Vachon commented, "The project will improve the flow of truck traffic and the port's competitiveness.

"By cutting down truck waiting times, the Port's environmental footprint will also be reduced."

Overall in the first half of this year the Port handled a total volume of 10.9 million tonnes, down 2 million tonnes or 15.4 per cent from a year earlier. The actual number of containers handled in the first half was 619,721, down 14.6 per cent from a year earlier. Container traffic between Montreal and Mediterranean ports however gained 22.2 per cent in terms of TEU’s.

Montreal is an important link between the manufacturing centres of Ontario and the Midwest US both of which have suffered a downturn due to the recession.