Delta terminal upgrades complete, expanding capacity for auto trade at the Port of Vancouver
The improvements will allow the terminal to handle up to 480,000 vehicles annually (36% increase in capacity). The project includes the creation of 60 rail car spots through the expansion of two existing terminal rail yards, a new vehicle processing building, along with the installation of eight electric vehicle charging stations. Additionally, the project frees up valuable industrial land for other trade-enabling activities in the future—bolstering further economic growth in the region.
Operated by Wallenius Wilhelmsen, the Annacis Auto Terminal serves more than ten of the world's top auto manufacturers. Canadian auto sales saw an 8% increase in 2024, due to strong sales momentum in the first half of the year, steady production and inventory levels, easing interest rates, and dealership incentives. The Port of Vancouver helped Canadians access the cars they need, importing almost 470,000 vehicles in 2024—surpassing 2023 volumes by 3% and setting an all-time record for the sector.
The project is funded by the Government of Canada through the National Trade Corridors Fund, the port authority, and Wallenius Wilhelmsen. It is one of the nearly 40 infrastructure projects proposed as part of the Greater Vancouver Gateway 2030 strategy to support national, provincial, regional, and local benefits. Learn more about it and other work being done in collaboration with industry and government to support trade through the gateway at
portvancouver.com/projects
.
Quotes
'
Last year marked a record year for auto trade through the Port of Vancouver, and the completion of these on-terminal works is a significant step forward in ensuring we are well-positioned to continue enabling Canada's auto trade through the port. We would like to thank our terminal operator—
Wallenius Wilhelmsen
—an
d the Government of Canada for their partnership in successfully reaching this milestone on this important project.
' – Jennifer Natland, Vice-President, Properties & Environment for the Vancouver Fraser Port Authority.
'
Consumers, workers, and small businesses
benefit
from efficient and reliable supply chains. By improving the efficiency of cargo movement at the
Annacis
Auto Terminal, we are supporting the growth of our economy and ensuring that Canadian businesses are competitive on the national and global stage. This will make life cost less for Canadians and British Columbians.
' – The Honourable Chrystia Freeland, Minister of Transport and Internal Trade
'
We're proud to mark the successful completion of the Annacis Auto Terminal Optimization Project. As terminal operators, we've worked closely with the Vancouver Fraser Port Authority and project partners to ensure the improvements not only enhance operational efficiency but also support a safer, more sustainable, and customer-focused facility. The project has modernized key areas of the terminal and added dedicated infrastructure that will improve flow and support future growth. We're confident that the enhancements will benefit our customers and partners well into the future.
' – Timothy McGee, VP Canada Operations, Wallenius Wilhelmsen
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
an hour ago
- Business Insider
Meta's (META) Texas Solar Project Gets $900 Million Investment from Enbridge
Canadian energy infrastructure company Enbridge (ENB) is investing $900 million in a 600-megawatt solar project in Texas that's being led by technology giant Meta Platforms (META). Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Calgary-based Enbridge says it is making the investment as demand for clean energy from technology companies drives the need for renewable sources of power. Meta has signed a long-term contract to purchase 100% of the project's renewable energy to help power its data center operations. Meta is one of many mega-cap technology firms that is investing heavily in renewable energy to power data centers and artificial intelligence (AI) models and applications. The 'Clear Fork' solar energy project, which is located near San Antonio, Texas, is expected to become operational by 2027. Rising Demand In a news release announcing the investment, Enbridge said: 'Clear Fork demonstrates the growing demand for renewable power across North America from blue-chip companies who are involved in technology and data center operations.' Construction on Clear Fork is underway, and Enbridge expects the project to be accretive to its cash flow and earnings once it comes online in 2027. ENB stock has gained 9% this year, while META stock has risen 21% so far in 2025. Is META Stock a Buy? average META price target of $746.07 implies 5.53% upside from current levels.
Business Insider
2 hours ago
- Business Insider
'2025 Has Not Been a Banner Year for Canadian Technology': Shopify Stock (TSE:SHOP) Slides Despite AI Push
Canadian e-commerce giant Shopify (TSE:SHOP) might be one of a few bright spots in the Canadian technology sector. That sector has been suffering in the doldrums for the last several months, but Shopify may help turn it around, at least somewhat. Though a new push into artificial intelligence (AI) is helping, investors are still very skeptical. Shares of Shopify were down nearly 3.5% in Tuesday morning's trading. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. National Bank analyst Richard Tse, who has a five-star rating on TipRanks, spelled it out: 'So far, 2025 has not been a banner year for Canadian technology.' This is, sadly, true; tech stocks dominate the headlines these days, but Shopify is little more than an afterthought. That may change, though, as Tse points out that Shopify's growth in AI is giving it some real help. Tse noted, 'The most notable broad driver of growth and innovation for Shopify is from AI – its application both internally and for its merchants. In our view, this is by far the biggest potential driver of profitability for Shopify care of operating leverage.' Given that Shopify has been pushing aggressively into AI for months—the company will not hire new people without first asking if the job for which they are intended can be done by AI instead—it is clear that Shopify is going all in therein. Rattling the Conference Cage Business conferences are a fairly familiar part of life for many business figures, but Shopify—in a fashion ultimately true to its brand ethos—is shaking up the conference scene, using some unconventional tools to make its conferences more effective. Shopify took its Shopify Summit 2025 event to the Enercare Center in Toronto, and delivered a conference that had a lot more of a vacation to it than an actual conference. For instance, Shopify set up a 'vinyl-listening lounge,' as well as a 'hidden speakeasy.' With spaces set up like garages and shipping materials, Shopify strove to exemplify the ' builder-first culture ' while also providing space for connection and collaboration throughout its global employee base. Is Shopify Stock a Buy or Sell? Turning to Wall Street, analysts have a Moderate Buy consensus rating on TSE:SHOP stock based on 21 Buys and 10 Holds assigned in the past three months, as indicated by the graphic below. After a 103.53% rally in its share price over the past year, the average SHOP price target of C$160.81 per share implies 5.21% downside risk.
Hamilton Spectator
2 hours ago
- Hamilton Spectator
Cornish Metals Announces Exercise of Stock Options and Issue of Equity
VANCOUVER, British Columbia, July 23, 2025 (GLOBE NEWSWIRE) — Cornish Metals Inc. (AIM/TSX-V: CUSN) ('Cornish Metals' or the 'Company'), a mineral exploration and development company focused on advancing its wholly owned and permitted South Crofty tin project in Cornwall, United Kingdom, announces the exercise of stock options for 800,000 common shares without par value at an exercise price of 10 cents per common share ('New Shares') for an aggregate consideration of C$80,000 (equivalent to £43,316). The New Shares will rank pari passu with the existing shares and application has been made for the 800,000 New Shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective and dealings in the New Shares will commence at 8:00am on or around July 28, 2025. The New Shares will also trade on the TSX Venture Exchange. Following Admission, Cornish Metals' Issued and Outstanding share capital will consist of 1,253,501,993 common shares. The Company does not hold any common shares in treasury. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company. Following the issue of the New Shares, the Company's outstanding stock options, warrants and performance share units are as set out in the table below: 1 Pursuant to the terms of the share option award, the exercise price of these options is £0.18 for non-Canadian option holders or $0.30 for Canadian option holders. 2 Pursuant to the terms of the share option award, the exercise price of these options is £0.085 for non-Canadian option holders or $0.14 for Canadian option holders. ABOUT CORNISH METALS Cornish Metals is a dual-listed mineral exploration and development company (AIM and TSX-V: CUSN) that is advancing the South Crofty tin project towards production. South Crofty: ON BEHALF OF THE BOARD OF DIRECTORS 'Don Turvey' Don Turvey CEO and Director Engage with us directly at our investor hub. Sign up at: For additional information please contact: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release . Caution regarding forward looking statements This news release may contain certain 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements'). Forward-looking statements include predictions, projections, outlook, guidance, estimates and forecasts and other statements regarding future plans, the realisation, cost, timing and extent of mineral resource or mineral reserve estimates, estimation of commodity prices, currency exchange rate fluctuations, estimated future exploration expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, requirements for additional capital and the Company's ability to obtain financing when required and on terms acceptable to the Company, future or estimated mine life and other activities or achievements of Cornish Metals. Forward-looking statements are often, but not always, identified by the use of words such as 'seek', 'anticipate', 'believe', 'plan', 'estimate', 'forecast', 'expect', 'potential', 'project', 'target', 'schedule', 'budget' and 'intend' and statements that an event or result 'may', 'will', 'should', 'could', 'would' or 'might' occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, are forward-looking statements that involve various risks and uncertainties and there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to receipt of regulatory approvals, risks related to general economic and market conditions; risks related to the availability of financing; the timing and content of upcoming work programmes; actual results of proposed exploration activities; possible variations in Mineral Resources or grade; projected dates to commence mining operations; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. The list is not exhaustive of the factors that may affect Cornish's forward-looking statements. Cornish Metals' forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date such statements are made. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward- looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements. Cornish Metals does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. Market Abuse Regulation (MAR) Disclosure The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended.
