Belledune Port Authority

Annual Report 2023


TABLE OF CONTENTS


A MESSAGE FROM THE CHAIR OF THE BOARD OF DIRECTORS

Hermel Vienneau, Chair of the Board

Fostering growth and making things happen

As we reflect on the achievement of 2023, it becomes evident that a collaborative partnership has been the cornerstone of our success at the port. We have made significant progress with our Master Development Plan and our Green Energy Hub.

Our success is due in great part to the work and dedication of our CEO Denis Caron and his team: they are the ones driving innovation, upholding the port, and advancing global efforts towards a more sustainable future. 

But our success goes beyond the BPA team.  It is also linked to our tenants and to our terminal operator, QSL, and to the First Nations, federal and provincial partners.  We share the same vision and commitment, and that is why we make things happen together. 

For example, 2023 saw the completion of the $34 M-renovation and expansion to terminals 3 and 4, and both levels of government announced funding for our $25 M-dry bulk conveyor loop project that will facilitate reloading and transshipments at the Port.

The port’s role in economic development for our region is undeniable, but our impact reaches far beyond our shores. As we approach 2030, we are committed to supporting initiatives for NB Power to find ways to be able to transition to power New Brunswick forward a to a greener future.

Part of our Master Development Plan was to focus on a diversified development portfolio featuring maritime-dependent industry, green energy, dry/bulk, light manufacturing, and commercial initiatives and this is where we are concentrating our efforts. Not only beneficial to local communities but it also contributes to broader environmental and social objectives.

The investments made to modernize our facilities underscore our commitment to excellence and sustainability. We will continue to prioritize the maintenance and enhancement of our installation.

In closing, we would like to congratulate former Board member Luc Roy who was recently appointed to the Provincial Bench, and welcome Andy Flanagan as our new municipal appointee.

 Sincere thanks to Rachelle Couture, Lise Godin and Julie Pinette who have helped Board members with their administrative and communications needs, and many thanks to all our employees for making things happen at the Port.

Hermel Vienneau

Chairperson of the Board of Directors

A MESSAGE FROM THE PRESIDENT & CEO

Denis Caron, President & CEO

Achieving a sustainable business future with community at its heart

In 2023, the Port of Belledune made big headway in achieving our shared vision of a new, clean energy economy for northern New Brunswick.  With support from our communities, First Nations, our Board of Directors and both levels of government, we are transforming our operations and cargo mix to attract new investments and propel the development of our Green Energy Hub.

Just like many other parts of the world, the BPA is moving away from fossil fuel-based heavy industry and toward green energy and low-carbon industry, while building our core business and increasing revenues. Our financial position continues to be strong, and I am proud of the progress we've made in the last year toward building a sustainable future.

With $1.2 Million from the Atlantic Canada Opportunities Agency, we have launched a series of planning, feasibility and technical studies to identify site requirements for the development of green hydrogen production on Port lands.

In May, we attended the World Hydrogen Summit in Rotterdam with the premier to promote the Port of Belledune as a destination of choice for clean energy in Canada and around the world. Seeing the international need and desire to work with Atlantic Canada is exciting.  Knowing our allies in the EU trust and want to contract with Canada, puts port authorities like the BPA at the forefront of this vital shift in energy sourcing globally.

Seeing both the federal and provincial government prioritize energy transition initiatives has created an alignment that is allowing the Port of Belledune to be a national leader in this space.  While we pursue work towards an industrial renaissance for the region, our operations continue to grow.  With the expansion of Terminals 3 and 4 through a $35 million National Trade Corridors project, we have increased the footprint for Quebec Stevedoring’s operations. As our partnership with QSL deepens and grows we are looking forward to many successful years of cargo handling on Terminals 3 and 4. And I would be remiss if I didn’t thank our Chief Engineer and Operations Officer specifically.  Jeffrey David oversaw this massive undertaking and its successful completion is due to his diligence and that of his team.  Thank you!

I also want to ensure that our surrounding communities view the port as a regional asset for development.  We work hard to ensure economic growth for the region. We know that the success of our vision for clean industrial development will depend on the participation of communities and Indigenous rights holders. This is why, in 2023, the Port launched a new community-led advisory committee to explore opportunities and challenges related to green energy development at the Port. The committee will serve as a forum for community members to exchange information, share opportunities and identify barriers to growth.

A heartfelt thank you to our dedicated team at the port and to our board of directors. As we gear up for a busy 2024, marked by significant development, we will be expanding our workforce to meet the demand for growth. We encourage you to watch for upcoming staff announcements and job opportunities at the port as we continue our green energy transition.

Together we are building a sustainable future for generations to come.

Denis Caron

President & CEO

BOARD OF DIRECTORS

The BPA Board of Directors is comprised of seven individuals representing a well-informed and connected cross-section of local leaders. Appointed Directors represent the three regions surrounding the Port of Belledune: the Chaleur Region, the Restigouche Region, and the Acadian Peninsula.

The Board of Directors are dedicated to helping the Port to expand and develop the regional economy. They come from diverse backgrounds and bring a wealth of experience and expertise to the organization.

BOARD COMMITTEE STRUCTURES

CONDENSED FINANCIAL STATEMENTS

Management's Report

Independent Auditor's Report

Condensed Statement of Operations & Comprehensive Income

See accompanying notes to the condensed financial statements.

Condensed Statement of Financial Position

See accompanying notes to the condensed financial statements.

Notes to the Condensed Financial Statements


2023 CARGO REVIEW

A total of 2,262,021 metric tonnes of product moved through the Port of Belledune during 2023. To learn more about the cargo shipped, and the origins and destinations of them, please explore the interactive map below by clicking on one of the blue anchors or the lines!

Shipping 2023 Expédition

HIGHLIGHTS FOR 2023


Thank you to our partners, stakeholders, Rights Holders, BPA staff & Board, and the community for a great year in 2023! We are looking forward to another great year in 2024!


CONTACT INFORMATION

BELLEDUNE PORT AUTHORITY

112 Shannon Drive

Belledune, NB

E8G 2W2

portbelledune.ca

@PortBelledune

506-522-1200

info@portbelledune.ca

Hermel Vienneau, Chair of the Board

Denis Caron, President & CEO