B.C. port opens to global opportunities

by Jillian Glover

The COSCO Antwerp unloading containers at the newest container terminal on the North American West Coast. The ship's arrival activated the first new transpacific trade corridor to be created on the continent in 100 years.

When the Prince Rupert Port Authority celebrated the opening of its Fairview Terminal, Western Canada and the community of Prince Rupert opened up to a world of new opportunities.

The Fairview Terminal at Prince Rupert's Port is being hailed as the biggest thing to hit northwest B.C. since the Grand Trunk Pacific railway first reached the West Coast. Trumpeted as an "express trade corridor," the new terminal shaves more than two days from shipping times between Asia and North America.

This increased capacity will strengthen Canada's position as a fast, efficient, secure and reliable Gateway - one that satisfies the demands of Asian shippers who are looking to build commercial bridges to North America.

Port opening marks new era

The arrival of three super-post panamax container cranes at the Fairview terminal marked the new Prince Rupert terminal officially open for business.

A new era in B.C. shipping arrived with the grand opening of the container terminal last September. The historic event garnered international headlines and drew an audience of thousands – including senior government dignitaries, business leaders and First Nations Chiefs from around the world.

"The Prince Rupert Port expansion will change the economic landscape of this region and our nation as we build stronger trade connections between Canada and Asia," said WD Minister Rona Ambrose.

The $170 million terminal project has been funded by five partners: $30 million from the Government of Canada through WD; $60 million from Maher Terminals including three super-post panamax cranes; $30 million from the Province of British Columbia; $25 million from CN Rail towards the terminal's rail-related infrastructure; and $25 million from the Prince Rupert Port Authority.

"We often say that Prince Rupert has been waiting 100 years for this day," said Don Krusel, CEO of the Prince Rupert Port Authority at the terminal opening.

The vision of building Prince Rupert as an express trade corridor to Asia was something proposed in the early 1900s by railway tycoon Charles Melville Hays, who chose it as the destination for his Grand Trunk Pacific Railway, a continent- spanning line that would compete with the Canadian Pacific Railway for the lucrative Asian silk trade. But when Mr. Hays perished on the Titanic, the dream ended with him.

The intervening 100 years have witnessed rapid growth in many parts of Asia, increased global competitiveness, expanded world energy demands and changing dynamics in the Canadian economy. Combined, these elements are the driving force behind the formation of new partnerships that are helping bring Hays' vision of Western Canada and Prince Rupert as the nation's "Gateway to Asia," to life.

Since 1987, WD has worked with the Province of British Columbia and more recently, Alberta, Saskatchewan and Manitoba, to position Canada to capitalize on emerging opportunities in the Asia Pacific Rim.

In addition to funding the Prince Rupert Port expansion, WD is contributing to Canada's Asia-Pacific Gateway and Corridor Initiative by consulting broadly with stakeholders across Canada and providing strategic advice on how best to leverage economic opportunity from this major investment.