VANCOUVER, BC, Jan. 8, 2025
/CNW/ - Westshore Terminals Investment Corporation (TSX: WTE)
(the "Corporation") announced today that its wholly-owned
subsidiary Westshore Terminals Limited Partnership ("Westshore")
loaded 26.8 million tonnes of product in the year ended
December 31, 2024. Adverse weather
conditions in the fourth quarter of 2024 hampered operations to a
greater degree than usual. In November and December the South Coast
of British Columbia was hit with a
series of storms that were more severe than normal in both
frequency and duration. In addition, unscheduled maintenance
prevented loading at Berth 1 for seven days in mid-November. The
average loading rate charged to customers for 2024 as a whole was
$13.76 per tonne.
Based on information currently available to Westshore, loading
volume for 2025 as a whole is projected to be approximately 26.5
million tonnes, at an average loading rate for the year of
$13.55 per tonne.
In late December, 2024, Westshore experienced a fire on part of
one of its four stacker-reclaimers. Repair work will require
replacement of a structural element of the stacker, which is
expected to take approximately two months, including fabrication.
With operational adjustments, Westshore is able to function at
normal levels with three stacker-reclaimers, and does not
anticipate any material impact on productivity as a result of the
fourth stacker being unavailable for this duration. The foregoing
statements concerning anticipated 2025 loading volumes and loading
rates are forward-looking statements that reflect the current
expectations of the Corporation with respect to future events and
performance. Forward-looking statements should not be read as
guarantees of future performance or results and will not
necessarily be accurate indications of whether such performance or
results will be achieved.
Forward-looking statements are based on information available at
the time they are made, assumptions made by management, and
management's good faith belief with respect to future events and
will be impacted by and are subject to the risks and uncertainties
outlined in the Corporation's Annual Information Form that could
cause actual performance or results to differ materially from those
reflected in the forward-looking statements, historical results or
current expectations.
SOURCE Westshore Terminals Investment Corporation
