The Port of Vancouver: A Hub of Booming Liquid Bulk Exports

The Port of Vancouver in British Columbia, Canada, witnessed a remarkable surge in liquid bulk exports in 2024, with volumes soaring by an impressive 203% to reach 17.1 million metric tonnes (MMT). This unprecedented growth was predominantly fueled by the expanded operations of the Trans Mountain pipeline.

The exponential increase in exports was largely attributed to the completion of the Trans Mountain pipeline and Westridge terminal expansion, which commenced operations in May 2024. This strategic infrastructure development played a pivotal role in unlocking new markets across Asia for Canadian petroleum products, leading to a nearly fourfold increase in petroleum exports to 15 MMT.

Peter Xotta, President and CEO of the port authority, emphasized the significance of Trans Mountain’s expansion, stating, “More than half of crude oil exports through the port since May went to Indo-Pacific markets.” This expansion not only boosted petroleum exports but also saw a surge in canola oil exports, which nearly doubled to 0.9 MMT, highlighting the port’s growing role in agricultural exports.

The overall liquid bulk shipments at the Port of Vancouver witnessed a staggering 123% increase to 21.9 MMT, with petroleum products specifically experiencing a remarkable growth of 153% to 19.3 MMT. This surge in liquid bulk exports significantly contributed to the port’s record-breaking year, with total cargo volumes reaching 158 MMT, marking a 5% increase from the previous year.

Challenges Faced and Strategic Solutions

Despite facing challenges such as climate change impacts, extreme weather events, geopolitical tensions, and labor disputes, the Port of Vancouver’s Active Vessel Traffic Management program played a crucial role in ensuring the safe and efficient handling of increased tanker traffic. This systematic approach helped integrate the substantial growth in liquid bulk movements without disrupting other critical port activities.

Positioning Vancouver as a Global Energy Trade Player

The port’s success in handling increased liquid bulk volumes has positioned Vancouver as a key player in global energy trade, particularly in serving Asian markets. With China, Japan, and South Korea emerging as the port’s top trading partners in 2024, the expanded liquid bulk capacity has strengthened Canada’s presence in the Indo-Pacific region’s energy market.

Driving Canada’s International Trade Diversification Strategy

The significant growth in liquid bulk exports through Vancouver underscores the port’s vital role in Canada’s international trade diversification strategy, with approximately 80% of its international trade being with countries other than the United States. This diversification has been crucial for Canadian producers seeking to expand their market reach beyond traditional trading partners.

As Peter Xotta noted, “The Port of Vancouver continues to drive Canadian prosperity—enabling seamless trade with up to 170 nations across the globe and supporting countless well-paying family jobs across the nation.”