Halifax reports container volume has fallen

Port of Halifax said its container volume has decreased this year, handling 16.3 percent fewer TEUs in the first six months when compared with the same 2007 period.

The port said several factors are at play, including the loss of two weekly services in 2007 that are now fully reflected in the statistics.

It also said the strength of the Canadian dollar relative to other currencies, and a weakening U.S. economy has impacted both export and import cargo volumes through the Port of Halifax.

It also noted that the high cost of bunker fuel is having an effect on overseas sourcing.

The downturn in the U.S. economy is affecting people's spending and buying patterns, the port said. Many of these items come through the Port of Halifax. When consumer spending is down, goods are not shipped through Halifax or any other port.

Halifax's Chronicle Herald newspaper reported that the decline in container cargo at the Port of Halifax has resulted in Canadian National Railway in reducing the number of trains calling at the port from two to one per day. 

Source: Portnews