Global slowdowns impact imports at Port of Montreal

Shipping containers are shown at the Port of Montreal, Sunday, April 25, 2021. (THE CANADIAN PRESS/Graham Hughes)

The Montreal Port Authority (MPA) says it saw a two per cent decline in volume in 2023 compared to the previous year.

In its unaudited results, the MPA says 35.2 million tonnes of goods were handled last year and blames the slide on "the impact of a global economic slowdown."

According to the MPA, container volumes were 8.8 per cent behind the previous year's total of 13.1 million tonnes.

"This decline was mainly due to a decrease in imports linked to the economic context," the MPA notes, specifically pinpointing lower consumer demands and a decline in the construction sector as main reasons for the drop.

Despite the economic context, exports by Canadian companies to the rest of the world remained at levels similar to 2022.

The MPA adds some container markets are continuing to grow, most notably Asia, which increased imports by four per cent over 2022.

Those from Ontario and the midwest grew by two per cent and eight per cent, respectively, on the export market.

The liquid bulk sector rose 7.1 per cent to 13,9 million tonnes due to a return to travel and a significant increase in air travel.

New types of fuel are also gaining market share.

One example the MPA gives is ethanol, a lower-carbon alternative fuel whose volumes doubled compared to the previous year.

The dry bulk sector held steady at eight million tonnes, while grains remained stable despite unfavourable weather conditions for farmers.

General cargo and non-containerized goods accounted for 0.26 million tonnes.

The MPA also says its post-pandemic 2023 cruise season was a success.

Montreal welcomed 23 ships from 15 companies with over 51,000 passengers and 16,200 crew members.

Those numbers are up nearly 35 per cent compared to the previous year.

The average ship occupancy rate was 86 per cent, compared to 75 per cent in 2022.

The MPA stresses that these preliminary results have yet to be audited.

The official numbers are slated to be released at its annual meeting in May.