PACIFIC MARITIME MAGAZINE
BC Regional Report 2015
By Kathy A. Smith
An improving economy has British Columbia’s ports gearing up for more imports from Asia, while increased energy extraction in Canada and the US has those same ports preparing to export coal, oil and gas.
Shipping markets are still under a lot of pressure and most of the container ocean carriers in particular are losing serious money says Captain Stephen Brown, President, Chamber of Shipping of British Columbia. “Freight markets in the bulk trades are still very low and it’s difficult for shipowners to raise rates due to the continuing over-supply of ships in most sectors for the time being.”
Despite the falling cost of oil on world markets and the cost of vessel bunkers, the higher fuel standards in Emission Control Areas (ECAs) effective… MORE