Hutchison, CN sign up to develop Quebec terminal

Hong Kong-based Hutchison Ports, Canadian National Railway and the Port of Quebec say they will partner to build a $775 million deep-draft container terminal.

Hutchison, CN sign up to develop Quebec terminal

Hong Kong-based Hutchison Ports, Canadian National Railway and the Port of Quebec say they will partner to build a $775 million deep-draft container terminal.

Hutchison, CN sign up to develop Quebec terminal

Hong Kong-based Hutchison Ports, Canadian National Railway and the Port of Quebec say they will partner to build a $775 million deep-draft container terminal.

 
   

The Quebec Port Authority said Tuesday it had signed a long-term commercial agreement with Hutchison Ports and Canadian National Railway to build and operate a new container terminal.
    The port said the $775 million project will be financed primarily through the joint investment of the three partners and that it “has ongoing discussions with the federal and provincial governments to complete the financing.”
      The Laurentia terminal, formerly known as Beauport 2020, would be capable of handling 500,000 TEUs and ships with more than 8,000-TEU capacity, according to the port’s website.
    Hong Kong-based Hutchison has a global network of terminals in 52 ports spanning 27 countries. It said it handles close to 85 million TEUs per year, representing approximately 11% of the global containerized cargo trade.
    The port said Hutchison “will build the most environmentally and technologically advanced cargo-handling facility in North America. It is a unique opportunity for the Port of Quebec’s future container terminal to become one of the terminals with the smallest ecological footprint in the world.”

   Eric Ip, group managing director at Hutchison Ports, said Quebec will become his company’s “gateway to the East Coast of North America. With its fully intermodal deep-water port, its strategic location to reach the Midwest market and the strong support shown by the local authorities, the Quebec project has all the attributes to be successful in this highly important market.”
    The port’s website said the 43-acre terminal site has 52 feet water depth at low tide and 2,000 feet of wharf.
    “The deep-water container terminal project is currently under an environmental assessment process with the Canadian Environmental Assessment Agency,” the port said.

One must wonder who the Trump administration is trying to punish with its growing enthusiasm for tariffs. The tariffs are offsetting much of the savings from tax cuts, and if this continues there could be tough months ahead.

Drewry’s World Container Index, a composite of container freight rates on eight major routes to and from the U.S., Europe and Asia, was down 1.4% to $1,351.15 per 40-foot container as of June 13.

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Hutchison, CN sign up to develop Quebec terminal

Hong Kong-based Hutchison Ports, Canadian National Railway and the Port of Quebec say they will partner to build a $775 million deep-draft container terminal.

May 30, 2019 on Dec 27, 2018AmericanShipper.com

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Hutchison, CN sign up to develop Quebec terminal

Hong Kong-based Hutchison Ports, Canadian National Railway and the Port of Quebec say they will partner to build a $775 million deep-draft container terminal.

May 30, 2019 on Dec 27, 2018AmericanShipper.com