Cargo volumes at Canada\u0027s largest port fell by three per cent last year as the global economy began to show signs of a slowdown. Read on.
A green light from the Department of Fisheries and Oceans is expected to take at least a year, he said, with permits also needed from B.C.’s Environmental Assessment Office.
Meanwhile a bumper crop in 2022 along with sharply reduced grain supply from Russia and Belarus — fallout from the invasion of Ukraine — point to increased grain shipments this year.Article content “We still have softer consumer spending. And we’re certainly also hearing about congestion in the supply chain with full warehouses in the main population areas around Toronto and Montreal, stock not clearing through the system as quickly as normal,” Silvester said.
Nonetheless, the port handled the second-highest annual volume of containers on record last year, he noted, though 28 per cent of them were empty, compared with 18 per cent in 2020. The higher proportion of empties owed to lower grain exports and higher freight rates, the port said.
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