A recent study published by real estate consulting firm Site Economics has found that the availability of industrial land is declining rapidly in Metro Vancouver, which could have implications on the regional economy by 2020, as well as for Port Metro Vancouver, the region’s largest port.
The study has also concluded that this could become more severe by 2025 and would prompt the need for Port Metro Vancouver to find suitable sites to support off-dock container activity for its Roberts Bank Terminal 2 expansion, including other planned expansions at Centerm and Deltaport.
Robin Silvestor, CEO at the Port of Vancouver previously said that currently, the region only has access to around 404ha of land.
Following recent announcements made by Seattle-Tacoma that they had moved ahead with major upgrades to dock two mega-ships simultaneously, this could have a real impact on trade coming into the Metro Vancouver region.
Despite this, Port Metro Vancouver recently announced its third consecutive year of solid cargo growth, with container volumes increasing 5% for a new record of 3.1 million TEU.