14 April 2008

Montreal plans to increase capacity

The following article is excerpted from the 11 April 2008 edition of “American Shipper”.

The Port of Montreal saw a 9.4 percent increase in containerized cargo and a 3.6 percent increase in total volume, which rose to 26 million tons in 2007, said Patrice M. Pelletier, president and chief executive at his agency's annual general meeting….

"All indicators show that marine container traffic on the East Coast of North America will grow annually by 7 percent till 2015. The Port of Montreal is a significant and true generator of wealth for the Canadian economy. To continue to fulfill this role, the port must take the necessary measures to capture a good part of the container market growth," he added.

He outlined major features of a strategic plan, which he said should enable Montreal to gradually augment its capacity. He believes marine traffic throughout the world is likely to grow and intensify due to market consolidation and growth in transshipments, giving rise to new port terminals using the hub-and-spoke concept common to the airport sector. He also sees the rise of new routes from Asia to North America, via Europe, and the Suez and Panama canals….