Port of Vancouver CEO Peter Xotta addresses Greater Vancouver Board of Trade
From the time Vancouver Fraser Port Authority CEO Peter Xotta began speaking to the Greater Vancouver Board of Trade Thursday at 12:30 p.m., to the time his talk ended about 30 minutes later, the cost of the present port shutdown went from $2.277 billion to $2.286 billion, according to the GVBOT’s port shutdown calculator.
The GVBOT launched its port shutdown calculator to underscore just how important the port is to Canada’s economy, and the impact the current shutdown is ramping up.“We’ve got a few challenges that we need to overcome," he said, pointing to labour and other disruptions that have hit North American ports recently, as well as a crisis in the Red Sea.
It follows a strike by International Longshore and Warehouse Union Canada that shut the port down for 13 days, resulting in billions in costs to Canadian businesses.“Despite all the challenges, we’re doing well,” Xotta said. The port expected to end the year with 327 cruise ship visits and 1.32 million passengers between March and October – a seven per cent increase over last year – and since May there have been more than 100 oil tankers shipments.
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