For Immediate Release
May 28, 2015
Port Saint John Announces 2014 Results at Annual Meeting
SAINT JOHN (NB) – Port Saint John today held its annual meeting, highlighting areas of strategic business growth, community commitment and the Port’s significant contribution to New Brunswick’s economic prosperity.
“Five years ago, our Board of Directors set a strategic direction for the Port which was based on port stakeholder feedback and focused on targeted growth. We are pleased to share results today which outline achieved growth and also project future growth opportunities which will positively impact the port community and Province,” stated Peter Gaulton, Chair of the Board of Directors for Port Saint John.
"The mandate of a Canada Port Authority requires Port Saint John to be financially self-sufficient. Our 2014 results show that we continue to maintain profitability, enabling investment in infrastructure and provision of services for our port users. Through these activities, Port Saint John fulfills its critical role as a transportation asset, providing a vital contribution to the economic vitality of the Province of New Brunswick,” said Jim Quinn, President & CEO of Port Saint John.
Cargo and cruise continue to be core business operations at Port Saint John with venue rentals providing additional revenue and community outreach opportunities. These business operations resulted in a net income from operations of $1.698 million for fiscal 2014.
Cargo is comprised of 4 sector types: container, dry bulk, liquid bulk and break bulk. In 2014:
Cruise experienced a decline in numbers for 2014 but an increase is already projected for 2015 and 2016. Port Saint John is focused on continuing to provide the cruise industry with a safe, efficient and seamless gateway to experience our region, and on working with our partners in marketing the destination.
- Containerized cargo experienced its third consecutive year of double-digit growth with a 17% increase in TEUs and a 14% increase in tonnages when compared to the prior year;
- Dry bulk cargoes also experienced a significant increase at 19% year-over year;
- Liquid bulk experienced a 15% decrease, due primarily to planned maintenance periods at the oil refinery;
- Break bulk, non-containerized general cargo, accounted for 18,904 tonnes of cargo overall; and
- Total tonnage in all sectors for 2014 reached 23,944,323 metric tonnes.
- Last year Port Saint John welcomed 106,501 guests and 43,139 crewmembers during 49 ship calls from 11 different cruise lines.
- A highlight of 2014 was the announcement of homeport cruises from Blount Small Seas Adventures, an announcement which will bear fruit later this summer.
Over the past 3 years, the cruise terminals have become established as event venues, continuing to open up the waterfront to our community and local business. Rental of spaces at the terminals not only provides a source of revenue to off-set the year-round operation of the buildings but also forms part of the Port’s annual community investment program with in-kind rentals to selected charities and non-profits. Venue rentals at Port Saint John increased from 12 in 2012, to 54 in 2013, and to 80 in 2014.
Giving back to the community is a core value of Port Saint John which is carried out through a strategic community investment program. This program includes not only charitable giving, in-kind sponsorships, and Community Day but also numerous volunteer hours from our employees, and fundraising partnerships such as the annual Harbour Lights Campaign and work with PALS (Partners Assisting Local Schools).
Port Saint John is a part of the critical transportation infrastructure of Canada and a cornerstone of the New Brunswick economy.
-- 30 –
Media contact: Craig Estabrooks, manager of corporate strategy, Port Saint John, Cell: (506) 343-5151, Email: email@example.com