PORT OF VANCOUVER ADDS CONTAINER CAPACITY

PORT OF VANCOUVER ADDS CONTAINER CAPACITY    The Vancouver Port Authority said that the Canadian port will add about 360,000 TEUs in container-handling capacity at the Centerm and Vanterm terminals by 2005.
   The move will bring the total capacity of the port of Vancouver to 1.97 million TEUs by then. Total development costs are estimated to be C$110 million ($70 million) for the two terminals.
   The additional capacity and increased productivity at Centerm and Vanterm will be achieved by implementing new technology with no additional land area. The Vanterm terminal will have its current capacity of 435,000 TEUs increased by 100,000 to 535,000 TEUs. Centerm’s capacity of 340,000 TEUs will grow to by 260,000 to 600,000 TEUs.
   The port authority described the change as the first phase in the port’s overall container terminal expansion strategy to reach 4 million TEUs of capacity by 2020.
   “Growth in containerized trade has been a global phenomenon and we envision the opportunity to expand our market share and increase our competitive position,” said Captain Gordon Houston, president and chief executive officer of the Vancouver Port Authority.
   The port of Vancouver has seen its container volumes triple from 441,054 TEUs in 1992 to 1.46 million TEUs in 2002.