For the First Time in Four Years, Canada’s Port of Churchill Will Restart Grain Shipments
After four years, Canada’s Port of Churchill plans to restart grain shipments from the arctic facility on the shore of Hudson’s Bay. This reopening will reduce shipping times to EU and Middle Eastern markets by several days.
Previously owned by OmniTrax, the port has been acquired by Arctic Gately Group, a group consisting of Watsa’s Fairfax Financial Holdings Ltd. AGT Foods, and idigenous groups that are backed by the investor Prem Watsa.
OmniTrax closed the port after a fall-off in business occurred following the elimination of the Canadian Wheat Board, and episodes of flooding shut down the rail line.
The new owners will be looking to ship durum, wheat, canola, lentil, and pea crops originated from Manitoba and Saskatchewan for destinations in Europe, North Africa, and the Middle East, and plan to keep the port open through the end of October, or early November, depending upon the weather.