Annual meeting of the Montreal Port Authority: Another year of growth in 2015 and major projects in the works

MONTREAL, May 13, 2016 /CNW Telbec/ - In 2015, cargo traffic handled at the Port of Montreal rose 5.2% over the previous year to reach 32 million tonnes. This is a record high for the Port of Montreal.

"This increase is very satisfactory. It reflects the fact that, more than ever, the Port of Montreal is a real growth force! Several structuring projects also progressed in 2015," said Sylvie Vachon, President and CEO of the Montreal Port Authority (MPA) at the annual meeting held on May 13, 2016.

Containerized cargo grew 4.1% in 2015. Its volume reached 13.1 million tonnes, or close to 1.5 million TEUs (twenty-foot equivalent units). Almost half of the goods that pass through the Port of Montreal are containerized, making it the Port of Montreal's largest sector of operations.

Dry bulk, for its part, increased 3.6% to 8.7 million tonnes. The main products handled include grain and iron ore.

Liquid bulk posted an 8% increase, with close to 10 million tonnes handled. This increase can be partly explained by the drop in oil prices, which favoured imports.

Moreover, for the fifth consecutive year the number of cruise passengers reached new heights. In 2015, Montreal accommodated 72 stopovers, for a total of nearly 91,000 passengers and crew members. This is a solid 28% upswing over the previous year. 

The financial results, in turn, reflect this sustained growth of port operations. Operating revenues were up 9%, reaching $102.6 million. At the same time, the MPA managed to contain its expenses, which only increased 2.5% to $83 million. These efforts enabled us to achieve an operating profit of $19.3 million.

The year 2015 was also characterized by a non-recurring item of no cash flow effect, related to modifications to past service costs of other employee benefit plans. This non-recurring item combined with financial products resulted in a net profit of $42.2 million.   

A year marked by creativity

In 2015, several large-scale projects moved ahead at the Port of Montreal. The MPA's total capital expenditures amounted to $44 million. The Port of Montreal is an economic, logistics, international and sustainable force that constantly reinvents itself. 

In January 2015, the MPA announced the development of a new container terminal in the Viau sector. At the end of its two project phases, the Port of Montreal's total capacity on the Island of Montreal will reach 2.2 million TEUs.

The MPA also announced the restoration of Alexandra Pier and Iberville Passenger Terminal, a project that is part of the celebrations for Montreal's 375^th anniversary in 2017.

Several other projects shaped the year 2015 at the Port of Montreal, including the installation of shore power and the implementation of the GHG Project. The MPA also began the federal environmental process required for the future development of a container terminal at Contrecœur.

Moreover, the MPA continued to strengthen in community relations, largely through its community investment policy, holding open houses and its Good Neighbourhood Committee.  

Consult the digital version of our 2015 highlights:

• port-montreal.com/annualreport

About the Port of Montreal

Operated by the Montreal Port Authority (MPA), the Port of Montreal is a major 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 container shipping lines in the world.

The Port of Montreal has its own rail network directly dockside. It is connected to the two national rail networks and a highway system. The Port operates a passenger terminal that welcomes cruise passengers. All the other terminals are run by private stevedoring firms. Port activity supports 16,000 jobs and generates $2.1 billion in economic spin-offs annually.

SOURCE PORT OF MONTREAL

For further information: Mélanie Nadeau, Director of Communications, Montreal Port Authority, [email protected], T: 514-283-7050, F: 514-283-0829, www.port-montreal.com