Port Report Talks Risks, Touts Coal

Port Metro Vancouver | BCBusiness
Among the upcoming highlights for 2014 and 2015: the introduction of a restructured truck licensing system; and the verdict on Kinder Morgan’s terminal expansion in July 2015.

Coal, tanker safety and the 2014 trucker strike feature prominently in the port’s annual review

At Port Metro Vancouver’s AGM on Tuesday—timed with the release of its annual review—CEO Robin Silvester answered questions from the floor and over social media. 
 
As the port took heat for increased coal exports—up 17 per cent in 2013 over 2012—and local sound and air pollution, both its executive team and report focused on what it sees as a key success: a 12 per cent increase in overall revenues, from $189 million in 2012 to $212 million in 2013.
 
“Port Metro Vancouver achieved another record cargo year and we anticipate that trade through [the port] will continue to increase as demand for Canadian resources remains strong,” said Craig Neeser, chair of the port’s board of directors.
 
The port’s net income increased 27 per cent over the past two years, from $75 million in 2012 to $94 million in 2013. The port makes revenues off wharfage, harbour dues and truck fees. Container-related fees make up just under half of its revenues.
 
But the focus—in both the public’s questions and the port’s sustainability review—was Vancouver’s role as an export hub for oil, gas and coal
 
Among the risks outlined by the port authority: changing government priorities; public opposition to port projects; and the potential for global “economic, energy and social” transitions that could affect its operations.
 
Increases in steel production and demand for electrical power in Asia, will lead to growth in bulk coal exports, states the report. However, not everyone is happy.
 
“Don’t export coal,” reads one section of the report, summarizing feedback its received from the public.
 
But when it comes to thermological coal, the port passes the buck on to the federal government.
 
The port is, “one link in the coal supply chain… running through national and provincial decisions to develop natural resources,” reads one section. “It is up to the federal government and all Canadians to determine the goods that are traded.”
 
The port also expressed confidence on its tanker safety record:
 
“[The port] has served as Canada’s Pacific gateway for bulk oil for more than 100 years without navigational incident,” said one section, citing requirements for double hulled tankers, trained pilots, ship inspections and 24/7 traffic monitoring, as measures to improve the safety of higher tanker traffic.
 
Among the upcoming highlights for 2014 and 2015: the introduction of a restructured truck licensing system (one of the factors behind the March trucker strike); a new community relations office in Delta, B.C.; and the verdict on Kinder Morgan’s terminal expansion in July 2015.