Annual meeting of the Montreal Port Authority (MPA)
The MPA continues it momentum with a 4th consecutive year of record traffic
Montreal, May 4, 2018 – As part of the annual meeting of the Montreal Port Authority (MPA), Ms. Sylvie Vachon, President and CEO of the MPA, presented the results and activities for 2017. For the fourth year in a row, the total volume of goods handled rose to a new historic high, at 38 million tonnes. This is a growth of 7.6% compared to 2016.
Marked by Montreal’s 375th anniversary, the year 2017 was an opportunity to remember that the Port of Montreal is a major founding element of the city. The theme of the 2017 Annual Report, ”A History with a Future,” expresses the continuity between the past and the future.
“The longstanding city/port cohabitation encouraged the Port of Montreal to show a lot of creativity and adaptability to ensure its growth. We believe that the creative streak that has always run through us now positions us as a smart, innovative port that always aims ahead,” said Sylvie Vachon.
The fully digital MPA Annual Report 2017 can be viewed at: annualreport2017.port-montreal.com
Results in growth
The Port of Montreal posted volume growth in every sector: containerized and non-containerized cargo, liquid and dry bulk.
The volume of containers handled at the Port of Montreal rose 5.8% in 2017 compared to the previous year, from 13.1 to 13.8 million tonnes. Two growth drivers largely explain these very good results: the markets of Asia and the Mediterranean, which posted respective increases of 14% and 21% in international traffic.
Turning to dry bulk, the results show an increase of 10.8% in 2017, reaching 9.3 million tonnes, with notable increases in iron ore, salt and metal scrap. Liquid bulk traffic totalled 14.7 million tonnes, up 7% over 2016.
On the cruise front, the Port of Montreal welcomed a total of 114,518 passengers and crew members. This is a record 33.5% rate of growth over the previous year, both nationally and internationally. All the visitors had a chance to discover our new Cruise Terminal, which commenced operations for the 2017 cruise season.
Regarding financial results, operating revenues reached $112.7 million, an increase of 5.6% compared to 2016, while expenditures amounted to $90.4 million.This brings the operational result to $22.3 million. Taking investment income into account, net income for the year is $23.1 million.
Another year rich in achievements and projects
The opening of the new Cruise Terminal is also one of the Port’s great achievements. The revitalized site also includes a new Port Centre offering the free History of Ships exhibition that conveys the pivotal role of the Port in the history of Montreal.
A project to upgrade port infrastructure worth $120 million got underway, and it is four-pronged: optimize the intermodal network; expand the short sea shipping vocation; develop bulk terminals; and upgrade wharf fenders and pier rehabilitation. The Port received $40 million in financial support from the Government of Quebec under the Maritime Strategy’s Marine Transportation Infrastructure Investment Support Program, as well as $18.4 million from the federal government under the National Trade Corridors Fund.
In 2017, the Port of Montreal celebrated 50 years of containerization, confirming its expertise in intermodality, fluidity and speed of container handling. The new container terminal at Viau completed its first year in operation. The container terminal project at Contrecœur, a key project to support container market growth and general economic growth for Montreal, Quebec and Canada, crossed a milestone in 2017 with the submission of the environmental impact statement to the Canadian Environmental Assessment Agency.
About the Port of Montreal
Operated by the Montreal Port Authority (MPA), the Port of Montreal is the second largest port in Canada and a 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 shipping lines in the world. The Port of Montreal has its own rail network directly dockside and is connected to the two national rail networks. The MPA also operates a Cruise Terminal and a Port Centre.
The MPA factors economic, social and environmental components into its corporate initiatives. This commitment is governed by a sustainable development policy whose guiding principles focus on involvement, cooperation and accountability. Port activity supports 16,000 jobs and generates $2.1 billion in economic benefits annually.
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Director of Communications
Montreal Port Authority
T: 514 283-1385