West Canadian Ports Vie for China Trade

(Shanghai Daily)

Two small west coast Canadian cities are vying to become key players for China’s North American logistic needs, citing an advantage of faster delivery time to the American heartland and a sound and stable business environment, reported the Shanghai Daily.

Over the past few years under the Asia Pacific Gateway and Corridor programme, a US$2.8 billion initiative launched in 2006 involving the participation of the Canadian federal government, as well as those at the provincial and municipal levels, the northern British Columbia cities of Prince George and Prince Rupert have emerged as increasingly important parts of the process.

Created by the ruling Conservative Party government, the programme involved a radical transformation of traditional mode-specific transport framework of private carriers to a more integrated approach to establish the most efficient transport network to best serve global supply chains between Asia and North America.

Following a few years of heavy investment and infrastructure construction, the pieces are now in place for both Prince George and Prince Rupert to make a significant logistical difference. Read more here.

Port of Vancouver Breaks New Ground

(The National Post – Barrie Critchley)

By the middle of next week, another infrastructure-related government-linked entity will have priced an initial offering of debt securities. But this transaction is different: It will mark the first time that debt has been raised against a group of port assets.

Port Metro Vancouver, the marketing name for the country’s largest and busiest port – it handles about $75-billion in goods with more than 160 trading economies each year – is seeking to raise a maximum of $100-million by selling 10-year debt. Road shows get underway next week in Eastern Canada for the offering of unsecured debentures. The issuer, which will use the proceeds repay to bank debt, has been rated AA by Standard & Poor’s.

Port Metro Vancouver is responsible for the operation and development of the assets and jurisdictions of the combined former Fraser River Port Authority, North Fraser Port Authority and Vancouver Port Authority. It now operates as The Vancouver Fraser Port Authority, which is a non-shareholder, financially self-sufficient corporation, established by the federal government in January 2008. Read more here.

Supply Management Hurting Major Transpacific Trade Opportunity: Experts

(Embassy – Laura Payton)

Eight Asia-Pacific countries will meet in March to negotiate a trade agreement as Canada sits on the sideline

Even as Prime Minister Stephen Harper works to turn Canada’s diplomatic and economic focus more towards Asia, the government may have missed out on a key chance to shape a new and expanding transpacific trade agreement. And experts say a major reason may have been Canada’s ongoing insistence on protecting supply management.

The Trans-Pacific Strategic Economic Partnership Agreement, or TPP, began as a four-country Pacific free trade agreement that came into force in 2006. Initially it encompassed only New Zealand, Chile, Brunei and Singapore. However, those countries want to expand to more markets. Canada could have joined years ago, but has so far remained on the sidelines while its major competitors jump on board. Read more here.

CentrePort Gets $3.5-M Boost

(Winnipeg Free Press – Geoff Kirbyson)

The federal and Manitoba governments have given CentrePort Canada a $3.5 million boost. The money will assist the corporation, which is gearing up to run an inland port, concentrating export-oriented manufacturing, warehousing and multi-modal distribution activities around the airport, with its start-up and operating costs.

Premier Gary Doer and Stockwell Day, minister of international trade and the Asia-Pacific Gateway, made the joint announcement Thursday evening at the Richardson International Airport.

They also announced a pair of pilot projects. The first, called the Canada-Manitoba CentrePort International Business Development Project will enable CentrePort to become Canada’s first foreign trade zone, a move designed to make it an attractive location for international trade and investment.

Read more here. View an image of the Pacific Gateway transport map here.

Minister Day Launches Advertisements to Promote Canada’s Asia-Pacific Gateway

(Minister of International Trade)

The Honourable Stockwell Day, Minister of International Trade and Minister for the Asia-Pacific Gateway, today launched an international advertising campaign promoting Canada’s Asia-Pacific Gateway as the fastest, most reliable way to transport goods between Asia and North America.

“Our economic prosperity depends on moving goods quickly and efficiently around the world,” said Minister Day. “We are working hard with our partners throughout Asia and North America to promote the benefits of using Canada’s transportation system to move products from the factory floor to store shelves.

“The Government of Canada has taken a number of important steps to enhance the country’s transportation network. This international ad campaign will help make businesses more aware of the advantages of moving their goods through our seaports and airports, and on our highways and railways.”

Beginning June 15, advertisements will appear featuring the slogan “With Canada’s Pacific Gateway, everything gets there sooner than you think.” The ads will be placed in marine and air shipping trade publications in the United States, Japan, Korea and China, including Journal of Commerce, Logistics Management, Air Cargo World, Payload Asia, China’s Foreign Trade and Maritime Press. The ads will appear in publications and as online web banners at intervals over the next 10 months.

Read the complete government press release here.

America Weighs In on the Future of Prince Rupert Super-Port

(Vancouver Sun – Miro Cernetig)

The dreamers behind Canada’s Pacific Gateway, a 21st-century version of the St. Lawrence Seaway now taking shape on the West Coast, got a bit of a scare a few days ago.

Barack Obama, the man who might very well be the next man to occupy the White House, seemed to be trying to kill the dream of transforming Prince Rupert into a truly global port. Obama is speaking out against a $300-million deal designed to extend the Port of Prince Rupert’s reach deep into the U.S. industrial heartland.

The Illinois Senator is throwing his weight behind a small village outside of Chicago that doesn’t want Canadian National Railway Co. to buy up the Elgin, Joliet and Eastern Railway. The intent is to avoid the bottleneck of Chicago by going through Barrington Village, and get the trains to Memphis, Tenn., cutting 17 hours of travel time. But that would dramatically expand train traffic through the area.

Obama, known for both his protectionist sentiment and grassroots politicking in Chicago, had this to say about the project: “Cities and towns ... along the EJ&E line must be assured their commerce and their safety are not imperilled by slow-moving trains that could be as much as two miles in length.”

Other members of Congress are weighing in with their opposition as well, hoping to derail the $300-million deal, which is now before the U.S. Surface Transportation Board. The crux of their argument is that the 198-mile railway includes 130 crossings and creates a safety hazard, and will alter the nature of the community.

With trains as long as two miles in length constantly trundling through Chicago suburbs, it’s also expected that billions of dollars will need to be spent on new infrastructure, such as underpasses and bridges. Senator Obama and others want CN to foot the bill.

Click here for the complete article.