The Port of Algoma is calling an increase in the volume of its third-party cargo traffic “substantial.”
As of Aug. 10, 2017, non-Algoma-related volumes stood at 141,453 tons, compared to 32,461 tons in all of 2016, the company said in a release. The number of ships carrying third-party cargo at the port also went up from two in 2016 to seven between April and August 2017. With more than four months to go until the end of the shipping season, these numbers are expected to grow further.
“While last year's third-party cargo came in towards the end of the season, we’ve had an early start to 2017,” said Anshumali Dwivedi, CEO of the Port of Algoma, in the release.
“This is an encouraging sign and demonstrates our company’s reduced dependence on Algoma, our anchor customer. It’s also leading to employment opportunities at local support services firms, which is good for the Sault Ste. Marie economy.”
The increased traffic is primarily related to shipments from manufacturing and mineral-production companies, the company said.
The company suggested it is looking to leverage the port and its services in relation to future development projects, such as a processing facility proposed to process chromite from the Ring of Fire.
“The Port of Algoma has the potential to change the economic landscape of our community and entire region,” said Dan Hollingsworth, executive director of business development for the Sault Ste. Marie Economic Development Corporation, in the release.
“We'll continue to work with our partners at the Port of Algoma to advance this infrastructure project, which will generate opportunities for local businesses and, ultimately, create jobs.”
The Port of Algoma is located on the St. Mary’s River, at the tip of Lake Superior. Its parent company is Essar Ports Global Holdings Ltd.