Container traffic at the Port of Montreal grew 4.5 percent in the first quarter year-over-year on strong demand from the U.S. Midwest and Canada, and double-digit growth in Mediterranean trade. The first quarter improvement followed 6.8 percent growth, to 1.33 million 20-foot equivalent container units, in 2010. The increases were largely due to what is really Southeast Asian trade, which is routed through the Suez Canal to Mediterranean hub ports and then to Montreal. Montreal Port Authority CEO Sylvie Vachon said TEU count in the Mediterranean trade jumped 23 percent, “making the Mediterranean the engine of growth for our containerized cargo market.” She also credited the improving U.S. and Canadian economies. Total traffic at the port reached 25.9 million metric tons in 2010, up 5.7 percent over 2009, Vachon told the MPA’s annual general meeting. Three carriers, Hanjin Shipping, Hapag-Lloyd and Mediterranean Shipping Co., operated weekly services between the Med and Montreal. Montreal’s other cargo sectors also recovered last year. Dry bulk volume increased 5.1 percent to 5.6 million tons, while liquid bulk rose 4.9 percent to 8.2 million ton. The port also invested C$42.2 million (US$43.2 million) in projects to expand capacity last year. The Journal of Commerce Online |