Vancouver Port Sees Rebound in Container Traffic

Canada’s largest port, the Port of Vancouver, facilitates around $220 billion in trade annually, connecting with up to 170 countries worldwide.

In the first half of 2024, container volumes at the port saw a significant rebound after years of challenges from pandemic-related surges in demand and various supply chain issues. Container traffic at Vancouver grew by 14%, reaching 1.8 million TEUs.

Import volumes (laden inbound) jumped 19% to 930,300 TEUs, while export volumes (laden outbound) rose 4% to 412,100 TEUs. The movement of empty containers also saw a 12% increase, hitting 426,600 TEUs.

The spike in inbound loaded imports, up 19%, was driven by retailers restocking their inventories in advance of possible labor disputes and shipments being rerouted from the East Coast due to disruptions in the Red Sea trade route.

Outbound loaded exports also grew by 4%, as more Canadian companies utilized containers to ship goods to global markets.

However, overall cargo volumes at the port dipped slightly by 1% to 75.5 million metric tonnes (MMT) in the first six months of 2024 compared to the same period in 2023.

Notably, bulk liquid cargo saw a strong rise, with tonnage increasing 43% to 7 MMT. Petroleum product shipments surged 53% to 5.8 MMT, and canola oil volumes climbed 42% to 0.4 MMT. The automotive sector also had a strong performance, with vehicle volumes up 14%, reaching a record 249,043 units.