Montreal Port sees mixed mid-year results amid economic uncertainty

The Montreal Port Authority (MPA) is reporting a modest drop in total cargo volumes for the first half of 2025, but strong growth in container traffic and grain shipments are helping offset the downturn.

Speaking at the Canadian Club of Montreal, Julie Gascon, president and CEO of the MPA, announced a 2.16 per cent decrease in total volumes compared to the same period in 2024. However, she emphasized signs of resilience and market diversification.

“The container segment posted particularly encouraging performance, up four per cent overall in TEUs (twenty-foot equivalent units),” Gascon said, noting that monthly containerized tonnage has exceeded the previous year’s monthly average by 14 per cent since March.

Grain was another bright spot, with 1.95 million tonnes moved over the past five months — a 16 per cent increase — buoyed by Canada’s third-best grain harvest of the century.

Exports to China rose 22 per cent, placing the country as the port’s second-largest trading partner after India. Trade also grew with Spain (+147 per cent), the Netherlands (+11 per cent), Africa (+29 per cent) and Latin America, where ships arriving were 54 per cent heavier than in 2024.

Specialized cargoes saw similar gains, with fruit imports up 29 per cent, aluminum 42 per cent and pharmaceuticals 18 per cent.

“In times of economic volatility all over the world, our mission is clearer than ever: provide Canadian trade with stable, efficient and diversified access to international markets,” Gascon said. “Our growth in trade flow to Asia, Europe and Latin America shows how the Port of Montreal acts as a lever for economic sovereignty.”

Meanwhile, the MPA’s Contrecœur terminal expansion project is poised to begin construction this year, with all levels of government backing and the potential to create 8,000 jobs during the build phase.