DP World to buy Vancouver's Fraser terminal

DP World to buy Vancouver's Fraser terminal

DP World's purchase of the multiuse Fraser Surrey Docks terminal at the port of Vancouver adds to the Dubai-based terminal operator's presence on the west coast of Canada. Photo credit: Shutterstock.com.

DP World said Thursday it will purchase the multiuse Fraser Surrey Docks terminal at the port of Vancouver from Macquarie Infrastructure Partners, adding to its presence on Canada’s Pacific coast.

DP World operates the Centerm container terminal in Vancouver and the Fairview container terminal at the port of Prince Rupert. Fraser Surrey Docks is a multiuse facility that handles steel and other breakbulk cargoes, as well as about 250,000 TEU a year of containerized cargo.

Macquarie, meanwhile, has been selling marine terminal assets, including the Halterm terminal in Halifax and the Penn terminal in Philadelphia, although it is purchasing the automated Long Beach Container Terminal in Southern California from OOIL, the parent company of ocean carrier OOCL, as part of OOIL's acquisition by China's Cosco Shipping.

Vancouver, Canada’s largest port, has a short-term and long-term master plan that calls for expansion and densification of the Vanterm and Centerm terminals, as well as construction of the three-berth Roberts Bank Container Terminal 2, with a capacity of 2.4 million TEU, late in the next decade.

Duncan Wilson, vice president environment, community, and government affairs at the port of Vancouver, said that due to draft limitations, terminals on the Fraser River do not offer potential for significant growth of container cargo. The planned Roberts Bank project, however, does offer growth potential, as Vancouver’s existing facilities are approaching their capacity. “The Roberts Bank Terminal 2 project is essential to meet Canada’s trade ambitions with Asia,” Wilson said.