September 2023 Local and Industry Updates

Local Updates:

• - GCT Deltaport and GCT Vanterm truck gates will be closed on back-to-back weekends due to The National Day for Truth and Reconciliation (Saturday, September 30) and Thanksgiving (Monday, October 9). DPW Centerm truck gate remains open on September 30th. Please check the websites for the container terminals for further information.
• - As expected, demand for 20’ST is picking up as agriculture cargo ramps up
• - The recent shortage of 40’ST and 40’HC is expected to continue in the upcoming two weeks
• - On the West Coast, the majority of empty container releases will be facilitated at the container terminals rather than container depots

Here are a few important industry articles we have read recently:

Port of Vancouver seeks new entrant to run semi-automated container terminal (Globe and Mail)

Following the federal government’s approval, in April, of the Vancouver Fraser Port Authority’s plan for Robert Bank Terminal 2 (RBT2), the Port of Vancouver is beginning the process of hiring the terminal operator. The terminal is projected to employ 800 full-time union workers, and will increase Canada’s container capacity by nearly 50 percent at Canada’s largest port.

Blank sailings set to rise in the rest of 2023 (Global Maritime Hub)

Due to continued oversupply and uncertain import demand, blank sailings are projected to remain on the rise in the coming months. If you are not already on the Trakking platform, contact us to learn how our products will optimise your efficiency for securing empty containers.

Container shipments plummet at Port of Vancouver in step with falling consumer demand (Vancouver Sun)

Container volumes at the Port of Vancouver fell 14 percent in the first half of 2023 compared to the same period in 2022. This drop in container volume corresponds with lower demand for consumer goods and overstocked inventory. Despite these economic conditions, there was an overall 11 percent boost of goods at the port compared to the same period last year, due to grain exports more than doubling and an increase in petroleum product exports.

Uncertainty Over HMM Sale After Banks Only Receive Four Bids (Maritime Executive)

With just three domestic bids, and some of Korea’s largest corporations not participating in the sale, the process of privatizing HMM has raised speculation and resulted in a drop in the price of the shipping line’s shares. SM Line had previously announced its interest, but ultimately did not submit an offer in this first round of bidding.