Container shipments drop 14% at Port of Vancouver as consumer demand falls

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BC Port Strike: Terms of workers’ agreement released
The terms of the four-year deal that ended the crippling 13-day-long B.C. port strike have been revealed by the Canada Industrial Relations Board. The deal includes pay raises, a maintenance work deal and retirement bonuses. Global News' Anne Gaviola reports – Aug 9, 2023

The Vancouver Fraser Port Authority says container shipments are falling, as consumer demand weakens amid a sputtering economy.

The authority says container shipment volume at the Port of Vancouver in the first half of the year fell 14 per cent compared with the same six-month period in 2022.

Interim CEO Victor Pang says the figures reflected a softer economy, which contracted slightly in the second quarter.

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Movement of construction materials and auto parts also slumped, while shipments of finished vehicles ramped up as supply chain kinks smoothed out.

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Grain exports marked the biggest bright spot, ramping up more than 100 per cent, a boost driven in part by record volumes shipped to Africa amid a surge in demand brought on by Russia’s invasion of Ukraine.

Nonetheless, Pang says the two-week strike by B.C. port workers in July took a toll on operations, as month-over-month container shipments fell by third and pushed many shippers to other ports.

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