Port of Montreal to explore boosting cruise ship traffic along St. Lawrence

MONTREAL - The Port of Montreal is considering a large-scale infrastructure project to boost cruise ship traffic along the St. Lawrence River.

Patrice Pelletier, the port's new CEO, said developing the cruise ship industry around Montreal is a smart investment.

We are certain that we can profit from a cruise ship project on the St. Lawrence that would turn it into a unique destination and one very different from what we see today, Pelletier told reporters Thursday following the port's annual meeting.

More than 27,700 international cruise ship passengers passed through Montreal in 2007.

While addressing the annual meeting, Pelletier outlined a long-term plan for the port's future that included better serving the American Midwest.

The port has spent several months studying its U.S. competition from ports in New York, Virginia, West Virginia and Georgia.

Pelletier also pledged to work on the port's environmental performance and improve its communication with Montrealers.

He promised to deliver an extremely concrete act of openness...to the population, especially that of Montreal East.

The port announced 2007 net earnings of $8.4 million, down 19.9 per cent from the $10.5 million reported a year earlier.

Total revenues jumped 4.9 per cent to $81.7 million, up from $77.9 million in 2006.

Port traffic was up 3.6 per cent, with total volume reaching 26 million tonnes. Containerized cargo spiked 9.4 per cent, while non-containerized cargo dropped 37.1 per cent, largely due to a decline in steel imports.

All indicators show that marine container traffic on the east coast of North America will grow annually by 7% till 2015, Pelletier said during the meeting.

The port must take the necessary measures to capture a good part of the container market growth, he added.

Pelletier will release details next week about his plan to significantly increase port activity by 2020.

Source: American Shipper