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Port of Toronto generates $388 million in economic activity

2018-09-20

McKeil Marine's Evans Spirit  won the International Bulk Journal's 2016 Ship of the Year Award during the IBJ's Salute to Excellence in the Maritime Bulk Industry gala awards ceremony in London, UK on November 21.
"It's a fantastic way to closeout our 60th anniversary year: having a vessel named after our founder, Evans McKeil, win this prestigious international award," said Steve Fletcher, President and CEO of McKeil Marine.
Acquired by McKeil in 2015, the Evans Spirit is a cargo ship with the shallow draught characters of a tug and barge; however, compared to a tug-and-barge unit, she can transport approximately 40 per cent more cargo about 50 per cent faster on a very similar amount of fuel.  She is in service throughout the Great Lakes and St. Lawrence River.
Evans Spirit was shortlisted for 2016 Ship of the Year competing with three other vessels: CS Bright, Mitsui OSK Lines, Japan;  Damen Shipyards, Netherlands; and MN Baroque, Swiss Marine, Switzerland. The award is presented to the owner, operator or builder of an outstanding individual bulk ship. Judged on operational efficiency, design innovation, safety and environmental protection, the Evans Spirit was selected as winner. (Photo Paul Beesley).

Marine cargo arriving and managed at the Port of Toronto generated $377.7 million in economic activity and 1,566 jobs in Ontario in 2017, according to a new report - Economic Impacts of the Port of Toronto - published by consulting firm Martin Associates.

These results are part of wider regional study released in July - Economic Impacts of Maritime Shipping in the Great Lakes - that confirmed cargo shipments to ports on the Great Lakes-St. Lawrence River waterway generated 181,000 jobs in Canada and CDN $26 billion in economic activity in Ontario and Quebec. The report, Economic Impacts of the Port of Toronto, isolates the economic impacts created by all cargo and vessel activity at the Port of Toronto and highlights the Port of Toronto's vital part in Ontario's transportation infrastructure and economic strength.

The analysis includes the economic impacts generated by marine cargo activity in the Great Lakes-St. Lawrence River region, including Canadian and U.S. domestic commerce, bi-national commerce between the two countries, and international traffic moving between the Great Lakes-St. Lawrence region and overseas destinations. The impacts are measured for the year 2017 and are presented in terms of total economic impacts at the bi-national regional level, the country level, and the provincial level.

"The Port of Toronto provides Canadian and international businesses with a convenient, sustainable and cost-effective way to bring goods, and people, into the heart of the city," said Geoffrey Wilson, Chief Executive Officer, PortsToronto. Economic Impacts of the Port of Toronto further confirms the Port's position as a vital component of Toronto's economic and transportation infrastructure." (photo PortsToronto)



 
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