The firm has committed to investing US $500mn globally over the next five years to help cut its carbon emissions by 700,000t
The $260mn Centerm Expansion Project at DP World Vancouver has been completed according to DP World. The project aims to increase port throughput by 60% and position British Columbia as a leader in sustainable trade. The newly expanded terminal can now handle 1.5m TEUs a year, compared to 900,000 TEUs previously, while adding 15% to the terminal’s overall footprint.
As per DP World, the project reduces the terminal’s environmental impact by adding capacity for container ships to connect to electrical shore power and converting its diesel yard cranes to electric ones. It further reduces greenhouse gas emissions by eliminating wait times for vehicles at train crossings and building to LEED and Envision certification sustainability standards.
“This expansion represents a significant investment in the future of international trade, and we are honoured to continue to play a vital role in connecting Canadian businesses to markets around the world, while contributing to sustainable economic growth and prosperity for all,” said Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World.
The expansion was completed by Centennial Expansion Partners (CXP). DP World and the Vancouver Fraser Port Authority also celebrated the 100th anniversary of the port’s marine terminal operations. These two events are said to highlight British Columbia’s (BC) ongoing leadership in sustainable trade, technological innovation and introducing Canadian goods to new markets supported by partners such as DP World in Canada, the statement added.
The 100-year anniversary marks an opportunity to celebrate the ongoing commitment of DP World employees, and the ILWU (International Longshore and Warehouse Union) handling over 20m loaded twenty-foot equivalent units (TEUs). Along with its partners, DP World said it is making the global supply chain more resilient, establishing Canada’s leadership in sustainable trade and exporting Canadian goods to global markets.
DP World continues to support and advance the long-term growth of Canada’s ports and terminals, including the Port of Vancouver, through new technologies and commitment to innovation and sustainable trade infrastructure. As the country’s gateway to over 170 trading economies around the world, Vancouver handles one in every $3 of Canada’s trade in goods outside of North America. This enables the trade of approximately $305bn in goods, while the port’s activities sustain 115,300 jobs, $7bn in wages, and $11.9bn in GDP across Canada, the statement pointed out.
Bin Sulayem remarked, “The 100th anniversary of terminal operations on the west coast is a wonderful opportunity to celebrate Canada’s rich maritime and port history and look ahead to a future that includes DP World’s industry-leading technology and innovation in supply chains. It’s also a chance for us, along with our employees and partners, to celebrate a responsible, sustainable, strategic approach to managing Canada’s network of ports and terminals.”
DP World said that it has committed to investing US $500mn globally over the next five years to help cut its carbon emissions by 700,000t to become a Net Zero carbon enterprise by 2050.
Vancouver Fraser Port Authority also completed the South Shore Access Project earlier this month in partnership with the Government of Canada and with funding from the National Trade Corridors Fund. The final part of the South Shore Access Project, including upgrades to Waterfront Road and the removal of road and rail conflicts in the area to connect terminals directly to the Trans-Canada Highway are now complete.
Robin Silvester, President and Chief Executive Officer, Vancouver Fraser Port Authority stated, “Expanding the footprint of the Centerm container terminal and improving road and rail links in the area will increase container trade capacity and resiliency at the Port of Vancouver in the near term.”
He concluded, “As recent years have shown, a robust container sector is critical for Canadian exports and for reliable access to the goods Canadians depend on every day from markets around the world-and these projects represent an important piece of the puzzle when it comes to enabling Canadian trade. We’d like to thank our project partners including DP World and the federal government for their support and collaboration, as well the local community and south shore tenants for their patience and understanding during construction.”