The Port of Montreal started 2018 with hopes of another record year for cargo traffic as CETA, the Canadian free trade agreement with Europe, begins to bear fruit.

Canada’s second-largest port anticipates cargo traffic increasing about four per cent after ending 2017 up almost seven per cent at a record 38 million tonnes.

A strong economy, growing business with Asia and reversal of Enbridge’s 9B pipeline contributed to last year’s strong results, port CEO Sylvie Vachon said Wednesday.

“The fact that the economy will be stronger will be very positive for that kind of cargo,” she said.

Last year marked the first full year of operations for a new container terminal that will eventually handle 600,000 twenty-foot equivalent units (TEUs) per year. The port is pushing for approval of another terminal that would accommodate 1.15 million TEU containers per year starting in 2021 or 2022.

• CETA in effect today as Canada-EU trade pact comes into force
• 21st century’s first eco-friendly cargo ship Avontuur docks in Montreal

Vachon said U.S. President Donald Trump’s threat to end the North American Free Trade Agreement is prompting transporters to look at developing other markets, notably Europe because of the new trade deal.

“It will be gradual but positive for us,” she said of the European trade agreement.

More cruise ships

The Port of Montreal is also coming off a record year for cruises with the anticipation of growing that business by another 14 per cent to 130,000 passengers in 2018.

More than 50 ship arrivals brought more than 114,000 passengers to Montreal last year, up 33 per cent over 2016 and up 140 per cent compared with 2011.