Montreal, May 12, 2015 – The year 2014 was marked by a substantial upswing in container traffic at the Port of Montreal. The financial results followed. Up a significant 8% in the volume of cargo handled, this growth made it possible to cross the threshold of 30 million tonnes of cargo handled in a single year.
“Given the slow global economic recovery that characterized 2014, we can state that our results are more than satisfactory,” said Montreal Port Authority (MPA) President and CEO Sylvie Vachon at the annual meeting held May 12, 2015.
Ms. Vachon also unveiled the organization’s financial statements. In 2014, operating revenues rose 8% to $94.1 million, naturally reflecting the increase in traffic. Tight control brought expenses down to $81.2 million, down 0.6% over 2013. These efforts produced a net profit of $14.5 million, an increase over the previous year.
In 2014, the volume of containerized cargo handled rose 6% to 12.6 million tonnes. This increase is even more significant, as containers account for the largest share of traffic at the Port of Montreal, at 41%. These excellent results are certainly due in part to the growing diversification of the markets served by the Port of Montreal.
However, dry bulk came out on top in strongest growth in 2014, up 29% to 8.6 million tonnes, including non-containerized cargo. Grain was the star product. Its volume leaped 55%, reflecting the exceptional harvest on the Canadian Prairies in 2013.
Liquid bulk, for its part, posted a slight decrease of 3% in 2014, to settle at 9.2 million tonnes. On the cruise front, 2014 is the year the Port of Montreal welcomed more than 71,000 cruise passengers and crew members – a record number, up 1.5% over 2013.
2014 was a year of progress for a number of projects at the Port de Montréal. In October, CanEst Transit inaugurated its cleaning and containerization terminal for agricultural products, a value-added service that fits in perfectly with the MPA’s Port + strategy.
In the Viau and Maisonneuve sectors, development was completed of a new space that can accommodate 200,000 TEUs (twenty-foot equivalent units), making it ready to welcome a new container terminal to be operated by Termont Montreal.
Furthermore, the MPA strengthened its relations with the community, notably by holding open houses to tell the public about two major projects: construction of a container terminal at Contrecoeur and the restoration of Alexandra Pier and Iberville Passenger Terminal. A Good Neighbourhood Committee was also created to establish dialogue and develop a collaborative way of resolving neighbourhood issues.
About the Port of Montreal
Operated by the Montreal Port Authority (MPA), the Port of Montreal is a major diversified transshipment centre that handles all types of goods – containerized and non-containerized cargo, liquid bulk and dry bulk. It is a leading container port served by the largest container shipping lines in the world.
The Port of Montreal has its own railway network directly dockside. It is connected to the two national rail networks and a highway system. The port operates a passenger terminal that welcomes cruise passengers. All other terminals are run by private stevedoring firms. Port activity supports 16,000 jobs and generates $2.1 billion in economic benefits annually.