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Home Business HOPA Ports post big profit year in 2022

HOPA Ports post big profit year in 2022

major capital investments, growth of agricultural cargo

The Hamilton and Oshawa Port Authority’s financial results for 2022 show continued strength and profitability, in a year that was still emerging from the pandemic. The Port posted an operating profit of $19   Million on income of $37 Million. The Ports estimates it serves industries providing 40.000 jobs and moved $4.3 Billion in cargo in 2021. Between Hamilton and Oshawa, nearly 700 ships called—600 of them in Hamilton.

The cargos being handled in Hamilton continue to diversify. From the time when the port cargo mix was overwhelmingly devoted to the service of steelmaking ; the Port in 2021 saw just under half of shipments related to steelmaking with agricultural products continuing to grow to over 20 percent of total cargo.

The port invested heavily in its Westport project, spending $30 Million to develop new docks, rail extensions, reconfigured cargo handling areas and new warehousing. That investment leveraged an estimated $77 million in private sector investments at the site and created 300 new jobs. In addition HOPA ports continues to develop its recently-acquired Niagara Port property in Welland. The Port also sees an improved climate for short-sea shipping that might lead to the expansion  of container service in Hamilton with links to Montreal Port.

In community activity the port has plans to develop the fisherman’s’ pier under the Skyway as a people place. Developments would include:

  • Greenspace development
  • Restoration of lighthouse & keeper’s cottage
  • Lighting the Skyway as a gateway to the City
  • Partnership to maintain public access to the canal piers

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