Canadian Pacific, Vancouver port team up to tap into growing Asia-North America trade (4/22/2005)
4/22/2023Yesterday, Canadian Pacific Railway and the Vancouver Port Authority announced they signed an agreement to jointly seek ways to increase intermodal capacity and attract Asia-Pacific trade opportunities.
The railroad and port will develop marketing initiatives and create public policy advocacy programs to solicit business, and improve the port’s intermodal operations, customer service and security. The parties also will advocate a Canadian policy framework that fosters private sector investment in an integrated transportation system, including rail, road, marine and air, and promote federal and provincial funding for transportation network upgrades.
By 2015, British Columbia ports project container volume will increase from 2 million 20-foot equivalent units (TEU) to between 5 million and 7 million TEUs.
"We have the opportunity to harness the tremendous growth of North America's trade with Asia,” said CPR President and Chief Executive Officer Rob Ritchie in a prepared statement. “This agreement further provides a framework to plan future infrastructure based on new sources of growth in Asia-North America trade."
Source: Progressive Railroading Daily News