The Port of Vancouver: Celebrating Record Performance Amidst Challenges

The Port of Vancouver, Canada is celebrating remarkable performance after cargo throughput hit record highs last year, despite challenging circumstances.

Vancouver Fraser Port Authority (VFPA) saw overall cargo volumes hit a record 158 million metric tonnes, a five percent increase compared to the previous record of 150 million MT set in 2023. The growth was a result of an increase in volumes across all segments including oil, auto, bulk, and container shipping.

Challenges and Success

During the year, Vancouver and other Canadian ports had to contend with challenges including labor disputes, local and global geopolitical tensions, climate change, and extreme weather such as wildfires. Despite this, Vancouver cemented its status as Canada’s biggest facilitator of international trade.

The Trans Mountain pipeline expansion has unlocked new markets across Asia for Canadian petroleum products, and liquid bulk exports surged by an unprecedented 203 percent to 17.1 million tonnes. Dry bulk, however, posted a four percent decline to 96 million MT driven by a fall in coal and potash exports.

Container Trade and Partnerships

Container trade recovered throughout 2024, returning to pre-pandemic growth trends. Vancouver’s four container terminals handled 3.5 million TEU, up 11 percent compared to 2023 and two percent compared to 2019.

Growth was also recorded in the ro/ro segment, with a record of almost 470,000 vehicles handled by auto terminals.

During the year, the top trading partners that moved goods through the port were China with 46 million tonnes, Japan with 19 million tonnes, and South Korea with 18 million tonnes. Trade to the U.S. through the port increased to seven percent of total cargo moved, amounting to 10 million tonnes, driven by increased petroleum exports.

Future Outlook and Investments

While the performance shows that Canada’s biggest port is on a growth trajectory, trade uncertainties ignited by tariff wars could affect the port’s activities this year. Confusion continues around the 25 percent tariff imposed on certain Canadian goods by President Trump, and the steps that Canada is taking to retaliate.

“The Port of Vancouver stands ready to support efforts to diversify Canada’s international trade and build a strong, resilient national economy. We will continue partnering with governments and industry to plan and deliver the long-term capacity needed to support trade through the gateway,” said Peter Xotta, VFPA President, and CEO.

Apart from cargo, Vancouver also cemented its position as a key cruise facility with passenger visits hitting a record 1.3 million, a seven percent increase from 1.2 million in 2023.

To sustain growth going forward, Vancouver has been undertaking significant investments to improve operations and efficiency. These include densification and modernization at Global Container Terminal’s Vanterm terminal, which is increasing container handling capacity, enabling larger container ships to berth, and reducing greenhouse gas emissions.