120/121 container traffic today sits at +15.9% over 2023 YTD. The total port intermodal traffic is most likely significantly higher than that, but they don't publish numbers on a regular basis.
This business wouldn't exist without CPKC and DP World making it happen. JDI is a big part also, since CP and DP World probably would not have rail to run on if JDI did not keep that open for their own business interests. The only issue with JDI is that they are on a steep learning curve for this kind of business.
CN never seriously attempted to make Saint John their go to port. They liked being single source at Halifax for as long as they could make it last. They've always let the intermodal business to Saint John sink or swim on it's own accord. The port itself never had the vision, or the political connections, or the funding, to make anything big happen there. It was a political decision which kept Montreal and Halifax paired to cover the east coast. It had nothing to do with efficiency, or long term requirements of the intermodal industry.
DP World ignited this opportunity by recognizing it. DP World and CPKC have worked together and have the majority of business out of Vancouver - by far Canada's largest intermodal port. DP World and CPKC (and JDI) probably discussed their roles well before DP World signed on for 30+ years.
Even if Montreal maintains it's current business, 2023 was only around 1.54 M TEU. For 2024, Montreal is -2.3% YTD as of Oct. 31. It looks like they are going to be down again in 2024.
The post below from late October is still very valid. This is CPKC's business, and holds a lot of promise for it's future in eastern Canada.
johnpbarlow wrote: ↑Fri Oct 25, 2024 5:56 am
CPKC intermodal service to/from Saint John got a two shout outs from CPKC Chief Marketing Officer John Brooks in its Q3 Earnings call with analysts on 10/23/24:
International intermodal, frankly, since COVID, it's been tough to really tell how those international intermodal volumes will move up and down, but the lineup right now to close out the year with our customers continues to look strong. In fact, we're seeing some really good growth out at Port of Saint John with our services out there.
and
Maybe the last piece on Gemini, and I think this is worth mentioning, is with the investments that DP World has made at the Port of Saint John, it's really beginning to unlock that next step function of capacity at that terminal, from the 300,000 TEUs a year potential to 800,000 TEUs a year, with the development and addition of cranes at that port. So, again, I think just another example of how we potentially believe the partnership and the expanded service callings into that port could generate growth in 2025.