DP World Vancouver, a division of Dubai-based marine terminal operator DP World, and Canadian Pacific Railway Ltd. (TSX:CP) announced a performance agreement Wednesday morning to improve productivity at railways, terminals and shipping lines at Canada’s west coast ports.
“This agreement outlines a number of goals and specific actions such that all stakeholders in the supply chain can have measurable accountabilities,” said Matt Hoag, CEO of DP World Vancouver, which operates the Centerm container terminal.
The agreement will also upgrade information systems so that operators can better predict customer supply and demand.
CP president and CEO Fred Green said between 2001 and 2008 collaboration at the port meant a 229% increase in loaded import containers through Vancouver’s Asia-Pacific gateway terminals.
CP and CP are not the only companies improving business practices at the port. Port Metro Vancouver and Canadian National Railway Co. (TSX:CNR) announced a supply chain agreement to improve efficiencies and recognize balanced accountability on May 31.
That deal set a framework for the port and CN to measure, monitor and evaluate port performance.
Port Metro Vancouver said at the time that such collaborations were the best way for Canada to increase commerce with the Asia-Pacific region.