by Mark Cardwell
The Port of Sept-Îles will likely fall a few million tonnes short in 2019 of its all-time annual record of 35 million tonnes for volume handled.
But that record will fall in 2020 and in the years that follow, top port officials say, now that the multiuser dock in the Pointe-Noire sector is fully operational.
“It’s running smoothly and efficiently,” says Pierre Gagnon, President & CEO of the Port of Sept-Îles since 2002. “We’re happy and proud of this new world class asset that will help the port and the iron ore industry to grow in the future.” (more…)
By Keith Norbury
Three major projects, with a combined value of over $300 million, are planned for Port of Prince Rupert in the next few years. To support those projects — a major railway bridge upgrade, new rail infrastructure to support an export logistics platform project, and an import logistics park on First Nations land — the federal government recently announced grants totalling $153.7 million.
The money, from the National Trade Corridors Fund, will provide about half the cash for the three projects, which are key elements of the Port’s plans to double its cargo volumes with the next decade to over 50 million tonnes annually. “What they supported are our top-priority strategic projects, both from a capacity standpoint, but also a resiliency standpoint,” said Shaun Stevenson, President and CEO of Prince Rupert Port Authority. “We were obviously very pleased to learn of the level of support and that the three projects we had put forward were supported.“ Mr. Stevenson added that the financing is a validation that the federal government “recognizes the strategic role that Prince Rupert is playing in Canadian trade.” (more…)
On track to set yet another record for annual cargo volumes, growth in cargo volumes at Port of Prince Rupert show no sign of slowing down. That keeps the Port on a trajectory that started more than a decade ago when volumes were about half the present level of about 25 million tonnes, and which port officials expect to double again to 50 million tonnes annually by 2030. “That’s what we believe we will be handling in 2030, both through growth through existing capacity, expanded terminals and new terminal development, and also the diversification of what capabilities we have,” said Shaun Stevenson, Port President and CEO. Many of those efforts are either under way or imminent — bolstered in large part by over $150 million in funding commitments that the federal government recently granted to the port through the National Trade Corridors Fund. (more…)
By Keith Norbury
AltaGas Ltd.’s Ridley Island Propane Export Terminal — the first such facility in Canada — is the latest addition to the port of Prince Rupert. The terminal, called RIPET for short, celebrated the export of its first shipment, bound for Asia, on May 23. “The completion of this game-changing project and the shipment of our first cargo are historic milestones for AltaGas, as well as for our project partners, customers, local indigenous peoples, surrounding communities, and western Canada’s upstream energy sector,” said Randy Crawford, President and Chief Executive Officer of AltaGas. “With RIPET now operational, we can offer producers a uniquely complete solution for their propane, providing premium netbacks and market optionality, while also positioning AltaGas to profitably grow our Midstream footprint — a true win-win for AltaGas and our customers.” (more…)
The planned makeover and reopening of the intermodal Pointe-aux-Basques terminal in the Port of Sept-Îles got a big boost this summer from the governments of Canada and Quebec.
At a groundbreaking ceremony in the port on June 19, senior ministers from both governments announced they would each put up a third of the $20 million the terminal modernization project is expected to cost, matching the contribution of the Port of Sept-Îles.
Work on the terminal is expected to begin in early 2020 and take about a year.
The terminal was closed for repairs in October 2018 and has never reopened. (more…)
In its International Energy Outlook 2019 (IEO2019), the U.S. Energy Information Administration (EIA) projects that world energy consumption will grow by nearly 50 per cent between 2018 and 2050. EIA projects most of this growth will come from regions where the consumption of energy is driven by strong economic growth, particularly in non-OECD Asia. EIA’s annual long-term assessment of world energy markets includes a Reference case and four core side cases, which use different assumptions for the projections in each case. (more…)