Port of Toronto sees revenues build in 2021

The Port of Toronto (PortsToronto) moved more than two million tonnes of cargo in 2021, for the fifth year in a row.

The marine portion of the port, which also includes Billy Bishop Airport, reported operating income from all sources of $5.5 million, up from $4.4 million the year before. The gains were attributed to cargo handling and dues, port berthage and storage.

There were 190 ship visits in 2021, bringing sugar, salt, cement, aggregate and steel directly to the heart of the city. Twenty-five ships brought in steel imports from around the world, representing an 18-year high.

The Port of Toronto also saw the arrival of three bridge spans from Nova Scotia via tug/barge for Waterfront Toronto’s Port Land Flood Protection project, and was critical in providing berthing for marine equipment in support of the new City of Toronto Ashbridge’s Bay Sewer Treatment Plant Outfall Project.

“If the year 2020 was characterized by resilience, the year 2021 was the beginning of a recovery for PortsToronto and its business units as our local and national economies resumed and activity in many hard-hit sectors restarted,” said CEO Geoffrey Wilson.

“While much of the Canadian transportation sector experienced pandemic-related disruptions in 2021, shipping through the Great Lakes and the Port of Toronto continued to provide a reliable trade gateway to fuel our national supply chain.”

Operations at the Outer Harbour Marina remained strong as recreational boating was in high demand during the pandemic, with the Marina at a 100 percent occupancy level. The Outer Harbour Marina’s operating income was $2.4 million in 2021 on revenues of $5.4 million.

Billy Bishop Airport had another challenging year in 2021 with the cancellation of scheduled carriers continuing up to the restart date for service on September 8, 2021. Operating income for Billy Bishop Airport was $5.0 million in 2021, up from $3.0 million in 2020 and down significantly from the $22.1 million recorded in 2019.

The port authority expects to see a dramatic recovery for the airport in 2022. In April 2022, passenger volumes reached more than 100,000, which is the highest number in a single month since the pandemic began. Further, this represented almost 45 percent of April 2019 volumes. Pent-up demand for travel has also led to the introduction of new routes, including Porter Airlines’ new direct service to three Atlantic Canada destinations, which began in spring 2022.