Performance Metrics: Palm Beach, Trois-Rivières

Palm Beach: Fiscal Year Gains for Containers, Cargo Tonnage, Revenues

The Port of Palm Beach experienced increases in cargo tonnage and container volume during the fiscal year that ended September 30, 2015. Top performers were utility fuel oil and sugar products, with increases from FY 2014 of 75 percent and 9.8 percent, respectively.

Fuel oil and sugar are carried on vessels that call solely at Berth 16, located on the newly restored and reconstructed Slip #3. Completed during the January-March quarter, the $27.2 million renovation project included deepening the slip from 33 to 35 feet at mean low water and shifting it northward approximately 10 feet. The facility remained in service throughout the construction process.

The increase in cargo activity resulted in strong revenues for the port. Since 2008, operating revenues have steadily increased. The five-year compounded annual growth rate in 2014 was 8.3 percent in FY 2014. Revenue forecasts for FY 2016 point to continued growth due to minimum annual revenue guarantees in tenant leases combined with expected gains in passenger and parking revenues related to cruise operations.

On October 2, Moody’s Investors Service, Inc. upgraded the Port of Palm Beach District senior rating to Baa3 from Ba1, and reported the outlook to be stable. Specifically, said the report: "The upgrade to Baa3 recognizes the port’s sustained financial improvement due to successful contract renewals with its largest customers. The improved margins experienced over the last four fiscal years are expected to continue in the mid-term, supported by tenant minimum annual revenue guarantee that improve the port’s cash flow predictability."

Positive results for the Port of Trois-Rivières in 2015

The Trois-Rivières Port Authority (TRPA) paints a positive picture for 2015 in terms of cargo traffic, hosting cruise ships, new development projects and community involvement.

During the course of the year, the port welcomed 203 ships in 2015 and some 3 million metric tons of cargo. General cargo traffic increased to 140,000 tons, a 50 percent increase compared to 2014. Liquid bulks held steady at 300,000 tons, while dry bulks declined, from 3.3 million to 2.2 million tons, largely due to reduced grain traffic.

In 2015, the Canadian Wheat Board transferred ownership of the Trois-Rivières grain terminal to the G3 Canada Ltd. A steady increase of this traffic is expected in 2016.

A major highlight was a sharp upturn in Trois-Rivières’ cruise business, to 16 ship calls and 7,000 passengers from 1,796 and 3, respectively in 2014. The port welcomed its first two international cruise ships in 2012. The port authority credits the success to its close collaboration with Tourisme Trois-Rivières. The TRPA is contributing to the funding of a maritime terminal that will receive passengers in 2016.

Another highlight of 2015 was the funding announcement for projects related to Phase II of the Port of Trois-Rivières development plan, On Course for 2020. A total of C$35 million will be invested in the infrastructures from now through the end of 2016, with port users spending an additional $15 million for cargo handling equipment.

"The new shed 16 and 24 have been delivered, shed 25 will be ready at the start of 2016, and the new Terminal 13 will be finished by the end of the year," said Gaétan Boivin, the port authority’s president and CEO. "This work will complete the main part of On Course for 2020, three years ahead of schedule."

The bulk carrier Anette, the first vessel of the new year to reach the port non-stop from abroad, arrived January 6 from Vila do Conde, Brazil, with a cargo of liquid clay. To mark the occasion, a reproduction of a painting from a local artist, Mrs. Caroline St-Pierre, was given to the ship’s master and chief engineer.