Published originally in Real Estate News Exchange, November 3rd, 2016
Metro Vancouver commuters and transporters are enjoying new and improved bridges and roads, but a severe shortage of industrial space to lease or buy continues to bottleneck the movement of goods and people, say local stakeholders and experts.
Vancouver Leasing ConferenceThe current industrial vacancy rate in Metro Vancouver is 2-3% said Lee Hester, a senior vice-president with JLL in Vancouver while a healthy industrial vacancy rate is considered to be in the 5-6% range.
Western Canada's first Inland Ports Conference was: (i)crucial to Western Canada's trade related transportation and logistics; (ii) vital to understanding the relationship between insland ports and seaports; (iii) valuable to regional and provincial economic development; (iv) full of unexpected comments. The only correct answer has to be (v) all of the preceding, but participants could be forgiven for additional commentary such as (vi) a long overdue and much-needed discussion; (vii) critical to Canada's international trade performance; and even (viii) a nation-building event.
Reducing supply chain costs is paramount in improving the bottom line. What elements are involved in the equation?
A panel of supply chain industry experts discussed the key components of supply chain network costs and audits at this spring’s Cargo Logistics Canada show in Montreal. Moderated by Canadian Shipper Editor Julia Kuzeljevich, the panel featured Ashcroft Terminals’ Vice President, Projects & Development, Kleo Landucci, Corrie Banks, President, Triskele Logistics Ltd., and Ann Pompilio, Chief Financial Officer of 3PL Links.
Robin Silvester, president and CEO of Port Metro Vancouver, has said that “the shrinking supply of trade-enabling industrial land is the largest threat facing the Vancouver trade gateway and the region’s continuing livability.”
It’s a view backed up by the latest Metro Vancouver study on industrial land, which says that we’ll run out by 2030, and we’re already down to just a few sites for “trade-enabling logistics uses.”
Canada remains a positive growth market, according to Mediterranean Shipping Company (MSC), with container traffic projected to increase by 900,000 TEUs to 6.7 million TEUs by 2020, said Najim Shaikh, MSC Vice-President Commercial Import. Mr. Shaikh made the forecast during his keynote address at the third annual Cargo Logistics Canada Expo and Conference in Montreal on February 17.