Market diversification curbed the effects of the economic crisis on the Port of Montreal

The Port of Montreal’s market diversification mitigated the impact of the global economic crisis on its 2009 traffic results, announced the Montreal Port Authority. In fact, container traffic with the Mediterranean grew 5.5% in the number of TEUs (20-foot equivalent units).

Marine grain shipping traffic also rose, recording a 14.7% increase over the previous year. Overall throughput at the grain terminal (ships, trains and trucks) in 2009 totalled 2,418,559 tonnes, an increase of 4.4%.

 “The diversification of our markets puts the Port of Montreal in a strong position to benefit from the economic recovery. Moreover, recent growth in certain types of dry bulk cargo traffic, such as iron ore, could be a harbinger of economic recovery," stated the President and Chief Executive Officer of the Montreal Port Authority, Ms. Sylvie Vachon.  

All traffic combined, the drop in volume handled at the Port of Montreal was 12% compared to 2008, reaching 24.5 million tonnes.

The volume of containerized cargo recorded a 15.4% decrease, to total just over 11.3 million tonnes. In the number of full and empty TEUs, the decrease amounted to 15.3% over the same period in 2008, to total 1,247,690 TEUs. 

The volume of bulk cargo experienced an 8.7% decline, reaching just over 13 million tonnes. The volumes of petroleum products remained essentially the same with an increase of 0.4%.

 
Source: Transport Weekly