Montreal Port Authority marked the year 2014 by an 8 per cent growth in the volume of cargo handled, to more than 30 million tonnes. At $81.2 million in 2014, operating expenses were reduced by 0.6 per cent, as compared to 2013, resulting in a net profit for the year of $14.5 million, a slight increase compared with 2013.
The strongest growth occurred in dry bulk which was up by 29 per cent in 2014 to 8.6 million tonnes, including non-containerized cargo. Grain was the star performer. Its volume leaped 55 per cent, reflecting the exceptional harvest on the Canadian Prairies in 2013.
“Given the slow global economic recovery that characterized 2014, our results are more than satisfactory,” said Montreal Port Authority’s President and CEO, Sylvie Vachon, at the annual meeting held May 12, 2015.
2014 was a year of progress with respect to a number of projects. For example, in October, CanEst Transit inaugurated its cleaning and containerization terminal for agricultural products, a value-added service that fits in perfectly with port operations and MPA’s business strategy. In the Viau and Maisonneuve sectors, land was developed to increase storage capacity by 200,000 TEUs, making it ready for Termont Montreal to construct a new container terminal. A long term lease for the new terminal was signed recently.
Furthermore, the Port strengthened its relations with the community by holding open houses to inform the public about two major projects: construction of a container terminal at Contrecoeur and the restoration of Alexandra Pier and Iberville Passenger Terminal. A Good Neighbourhood Committee was also created to establish dialogue and develop a collaborative way of resolving neighbourhood issues.