“This initiative by the CMM and its Government of Quebec partners confirms the status of Montreal and its port as a transportation hub. Creating this industrial cluster fosters the inception of promising projects for Greater Montreal,” said Vachon. Port activity supports 18,200 jobs and generates $1.5 billion in economic spin-offs per year.

On the Port of Montreal’s capacity to meet global market demands and the needs of Port of Montreal clients, Vachon pointed out that investment projects currently underway on Port of Montreal territory will make it possible to raise the annual maximum container handling capacity from 1.6 million to 2 million TEU by 2016. At the same time, in 2010 the Montreal Port Authority completed technical studies on its Contrecoeur site, where the port could expand when the time comes. “We still have to validate several parameters, including the matter of funding that we’re now looking into,” stated Vachon. This project could bring the Port of Montreal’s maximum container capacity to more than 3 million TEU by 2018, close to double its current capacity.

Container throughput exceeded 11 million TEU in 2010. The six ports have now an annual cargo throughput of more than 100 million tonnes each. The port of Lianyungang handled a total of 3.9 million TEU in container throughput in 2010 while Taicang handled 2.2 million TEU.

The port has also issues a tender for the alignment and strengthening of the north breakwater, alignment of berth 4 and full upgrading of the yard area. Bidding for these three last phases of works is expected to take place this year.

Georgia Ports Authority (GPA) has been informed that the US Government has allocated ‘some funding’ for the USD600 million deepening project in Savannah. President Barack Obama agreed to provide funding for the deepening project, but not nearly the amount requested. The President’s proposal includes USD600,000 for pre-construction engineering and design for the project, but includes no funding for construction. GPA wants to deepen the harbor from the current 42 feet to 48 feet. Total cost of the project is expected to be about USD600 million, with one third coming from the State and the rest from the Federal Government.