The potash-exporting capacity of Neptune Bulk Terminals (Canada) Ltd. in North Vancouver were boosted this week with arrival of a large new potash ship – the U-Sea Colonsay – on her maiden voyage.
The ship, which can carry approximately 60,000 tonnes of potash, is owned by potash exporter Canpotex, one of Neptune’s shareholders.
The new ship adds to Neptune’s recent efforts to expand potash-handling capability to 11.5 million tonnes to meet Capotex’s increasing international potash trade.
“We anticipate 90 new jobs for our potash business as a result of a $75 million strategic investment program at our terminal, covering various recent capital projects and improvements,” Neptune president Jim Belsheim said in a press release.
Potash shipments at Neptune increased by 160% last year over 2009 to 5.5 million tonnes. They’re projected to exceed 7.2 million tonnes in 2011.
Earlier this year, Neptune announced a $63.5 million investment in new equipment to improve the terminal’s coal-handling capacity. (See “Local terminal expands coal operations” – BIV Business Today, May 24.)
Jenny Wagler
@JennyWagler_BIV