Editor:
Re: Port experiences record year for cargo volumes, Feb. 18
It was interesting to read Port Metro Vancouver's year-end shipping report on cargo volumes.
President and CEO Robin Silvester appears to have failed to mention that the port has again missed its forecast projections for year-end 2014 by a staggering 50 per cent on container shipments.
He does provide a lot of statistics that have little to do with the container facility at Roberts Bank named Deltaport. The last time I checked, Deltaport was a container handling facility and had nothing to do with bulk materials cargo shipments.
Container statistics for 2014 indicate Port Metro Vancouver handled 2,912,929 TEUs (20-foot equivalent units). This is a compound annual growth rate of 2.63 per cent over the past six years.
Hence, the port is missing its six per cent compounded growth rate forecast by more than 50 per cent over this time period. As one can see, the port has an abysmal forecasting track record.
Port Metro Vancouver has been claiming it will record increased container volumes each and every year going forward between six and seven per cent. How is it going to do that when the last six years show its compounded growth is averaging less than three per cent?
Don Paulsen
