Pacific Coast Terminals, known for the huge, yellow piles of sulphur it ships from the Port Moody waterfront, started to handle canola oil on the weekend and the first load reportedly went smoothly into the tanks.
The oil that may be handled on the site is a food-grade vegetable oil. The technology that is currently being used to handle ethylene glycol will be applied to the canola oil.
PCT expects to handle 400,000 tonnes of canola oil annually for the next two years before the production is increased to 750,000 tonnes. The product will be exported primarily to markets in Asia and will add $1 billion in exports to the $1.5 billion already contributed to the Canadian economy.
Wade Leslie, PCT's vice-president and general manager, said the first loading of the Galaxy Spruce on Saturday went well. The ship wasn't loaded to capacity for the first trial run but future loads will be to 44,000 tonnes.
Canada produces 15% of the world's annual canola supply, which translates to $13 billion to the Canadian economy, according to PCT.
There has been a 40% decrease in ethylene glycol shipments since 2007, so PCT has pursued other business opportunities.
Leslie said potash exports are planned to be running in late 2016; accommodating that product requires dredging in Burrard Inlet; PCT hopes to receive permits in time to start that work this fall.
