VANCOUVER, British Columbia, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Ashcroft Terminal Ltd. and the Vancouver Fraser Port Authority announced today that they have signed a letter of intent concerning a long-term arrangement for the transportation of Canadian imports and exports. The organizations will work together to invest, build and operate rail infrastructure at Ashcroft Terminal to reduce congestion within the Port of Vancouver, support capacity growth and enhance resiliency within the critical Asia-Pacific Gateway trade corridor. This unique partnership will advance the efficient movement of imports and exports in Western Canada and help deliver goods to market faster.
Ashcroft Terminal Ltd. — an inland terminal located approximately 300 kilometres east of Vancouver — will provide infrastructure to supply railcar storage and staging for improved resiliency and cargo fluidity along the Asia-Pacific Gateway Corridor. This will help remove bottlenecks along this major transportation corridor. The parties anticipate the railcar storage program to be operational by fall 2024.
“Creating supply chain resiliency within the Vancouver Gateway is becoming increasingly more important to mitigate against challenging disruptions that can have devastating impacts to trade fluidity and the reliable movement of goods to and from the Port of Vancouver,” said Peter Xotta, vice president, operations and supply chain at the Vancouver Fraser Port Authority. “This partnership presents an exciting opportunity to enhance port-related trade capacity in the region and reduce congestion within the supply chain, which will lead to more reliable access for Canadians to the goods they need to support their families and businesses.”
Once operational, this new railcar storage agreement will create several benefits for Canadians:
- Deliver goods to market faster and with fewer delays.
- Futureproof Western Canada’s supply chain and economy against disruptions, such as floods, wildfires, and labour shortages.
- Reduce the carbon footprint of Canadian supply chains.
“The signed letter of intent is an exciting first step in strengthening Western Canada’s supply chain,” said Chris Shubert, CEO and chief commercial officer at Ashcroft Terminal. “The Asia-Pacific Gateway Corridor connects Canada to the rest of the world, moving critical cargo such as retail goods, bulk products, food, and natural resources. Ashcroft Terminal is the inland terminal equipped and strategically positioned to manage this new rail program and facilitate the fluid movement of Canada’s major economic drivers.”
This agreement is one of the many opportunities the Vancouver Fraser Port Authority is looking at to increase resiliency within the Port of Vancouver and strengthen Canada’s supply chain.
To learn more about Ashcroft Terminal Ltd., visit ashcroftterminal.com.
MEDIA CONTACT
Jessica Williams
Senior Manager, Corporate Affairs and Communications
Ashcroft Terminal Ltd. | A Member of the PSA Group
Phone: 778.835.2242
Email: Jessica.Williams@ashcroftterminal.com
AshcroftTerminal.com
About Ashcroft Terminal
Ashcroft Terminal is British Columbia’s largest inland port, uniquely positioned to provide sustainable solutions for importers and exporters through dedicated infrastructure and direct access to CP and CN Rail mainlines. As a member of the world’s leading port operator, PSA International, we are part of an extensive network of supply chain professionals from over 26 countries. In operation since 2001, Ashcroft Terminal handles 7,000 railcars and 6,000 trucks annually. Its strategic location helps shippers, importers, manufacturers, and producers prepare their commodities for export or import. Ashcroft Terminal provides railcar storage and transloading services for multi-modal transportation, materials handling, railcar inspections and repairs, and cargo solutions for its customers supply chain needs. Ashcroft Terminal has steadily been expanding infrastructure to add capacity and resiliency to ensure fluidity through the critical Asia-Pacific Gateway Corridor in cooperation with Transport Canada. Visit us at www.ashcroftterminal.com.
About the Vancouver Fraser Port Authority and the Port of Vancouver
The Vancouver Fraser Port Authority is the federal agency responsible for the shared stewardship of the Port of Vancouver. Like all Canada Port Authorities, we are accountable to the federal minister of transport, and operate pursuant to the Canada Marine Act with a mandate to enable Canada’s trade through the Port of Vancouver, while protecting the environment and considering local communities. The port authority is structured as a non-share corporation, is financially self-sufficient and does not rely on tax dollars for operations. Our revenues come from port terminals and tenants who lease port lands, and from port users who pay various fees such as harbour dues. Profits are reinvested in port infrastructure. The port authority oversees the use of port land and water, which includes more than 16,000 hectares of water, over 1,500 hectares of land, and approximately 350 kilometres of shoreline. Located on the southwest coast of British Columbia in Canada, the Port of Vancouver extends from Roberts Bank and the Fraser River up to and including Burrard Inlet, bordering 16 municipalities and intersecting the traditional territories and treaty lands of more than 35 Coast Salish Indigenous groups. The Port of Vancouver is Canada’s largest port, and the third largest in North America by tonnes of cargo. Enabling the trade of approximately $305 billion in goods with more than 170 world economies, port activities sustain 115,300 jobs, $7 billion in wages, and $11.9 billion in GDP across Canada.
