The export of coal from Prince Rupert continues to go from strength to strength. Whilst the record breaking figures for 2010 are great news, the forecast looking forward shows both stability and growth.
Dennis Blake, the senior manager at Ridley, said the company is marking the “single busiest month in our history” this December.
By December 14, said Blake, the company had already shipped 600,000 metric tonnes of metallurgical coal, thermal coal and petroleum coke. He projected that another 1 million metric tonnes of product would be shipped through the terminal for the rest of December.
Blake also predicted the annual total for 2010 would be 8 million metric tonnes — almost double the total amount shipped in 2009 of 4.2 million metric tonnes.
The reason for the increase, said Blake, is twofold. First, there has been a huge increase in demand from China for Ridley’s products. And second, the other terminals in B.C., in the Lower Mainland, are at or near capacity. Ridley is the prime benefactor of those two trends.
The record-breaking year was predicted by Ridley Chair Bud Smith & Minister of State for Transport Rob Merrifield during a press conference held at the terminal on August 17. By that time, the terminal had already shipped 3.9 million metric tonnes for 2010.
Last year, the terminal brought in revenues of $25 million. According to Ridley Terminal Inc.’s 2009 annual report, demand for its products is expected to grow until at least 2014.
Monday, December 20, 2010
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