Beyond the Docks : From Inland Ports to Transloading
Special Report
Outbound balance
Prince Rupert export infrastructure project secures Canadian government loan
By Bill Mongelluzzo
The Prince Rupert Port Authority will receive a C $ 150 million ($ 110 million ) loan from the Canada Infrastructure Bank ( CIB ) to help finance development of the port ’ s new export logistics hub known as CANXPORT .
CANXPORT will expand capacity and capabilities for rail-to-container transloading for multiple export products at Prince Rupert , the CIB said in a May 23 statement announcing the loan .
The project carries an estimated capital cost of C $ 750 million ($ 547 million ) with a two-year construction timeline , according to the port ’ s website .
“ CIB is helping to expand Canadian exports and resiliency in the supply chains that support trade with an investment in British Columbia ’ s Port of Prince Rupert ,” the federally owned bank said .
In January through April , import containers accounted for about 73 % of Prince Rupert ’ s total laden container volume of 165,278 TEUs , up 11 % from the same period last year . Total laden exports during the first four months of 2024 came in at 44,363 TEUs , unchanged from the yearago period , according to the port ’ s website .
CANXPORT , which will be built on a 108-acre site on Ridley Island , is scheduled for completion in the third quarter of 2026 . Ray-Mont Logistics will develop and operate the facility , which initially will provide transloading capacity for 400,000 TEUs a year , according to the port . Agricultural and forestry products will be transloaded at the site into marine containers for export .
Funding for Phase 2 of the project , expected to be in place later this year , will be used to help Ray-Mont finance construction of the transloading facility and container storage yard .
Capital investment in CANXPORT is being provided by the Prince Rupert Port Authority , Ray-Mont and Canadian National Railway ( CN ). The Canadian federal government and the provincial government of British Columbia are also contributing financially .
“ CIB is helping to expand Canadian exports and resiliency in the supply chains that support trade .”
Prince Rupert will also develop a road-rail utility corridor that will connect the transloading facility with Fairview Container Terminal , providing unit trains of 10,000 feet in length direct access to CANXPORT from the CN network . The connector corridor ensures that all product movements will be within the port authority ’ s jurisdiction , the port said in a statement last October .
email : bill . mongelluzzo @ spglobal . com
More than 70 % of containers flowing through Prince Rupert ( pictured ) are imports . James Wheeler / Shutterstock . com
38 Journal of Commerce | July 1 , 2024 www . joc . com