Cargo volumes at Canada's largest port fell by three per cent last year as the global economy began to show signs of a slowdown.
Cargo containers are unloaded from the Maersk Stockholm ship with gantry cranes while docked at port, in Vancouver, on Tuesday, April 25, 2023. The Vancouver Fraser Port Authority says overall cargo volumes fell by three per cent last year, as the global economy began to show signs of a slowdown.
After more than a year of rising container traffic, imports also fell by four per cent amid softer consumer demand and overstocked inventories, said port authority CEO Robin Silvester in a phone interview. “A decline in container volumes that started around December is providing much-needed relief from the surge volumes the port experienced throughout 2021 and much of 2022,” Silvester said in a release.handling its second-highest annual volume of containers on record in 2022.”
The wave of cruise ships shows no signs of ebbing, Silvester said. Meanwhile a bumper crop in 2022 along with sharply reduced grain supply out Russia and Belarus — fallout from the former’s invasion of Ukraine — point to increased grain shipments this year.Sign up for the CHEK Now daily email newsletter to get breaking news and the day's top stories sent to your email.But container traffic in Canada has continued to drop off as Canadians tighten budgets amid higher interest rates.
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