Mar 22, 2024   SOURCE: PR NewsWire

Transport Canada announces a modernized agreement with the St. Lawrence Seaway Management Corporation

ST.CATHARINES, ON, March 22, 2024 /CNW/ - The St. Lawrence Seaway is a critically important trade corridor for key bulk commodities used across Canada and the United States. Nearly 38 million tonnes of cargo moved through the Seaway in 2023. The Government of Canada is committed to supporting this binational waterway's long-term economic growth and sustainability and reinforcing Canada's reputation as a reliable and strong trading partner.

Today, the Minister of Transport, Pablo Rodriguez, and Terence Bowles, President and CEO of the St. Lawrence Seaway Management Corporation, announced that they signed an agreement for the Corporation--a not-for-profit organization--to continue managing, maintaining, and operating the Seaway, which it has done since 1998.

This stronger, more modern agreement is one that is in the best interest of Canadians. It includes:

    --  Continued maintenance of a safe, secure, and efficient transportation
        channel to foster bilateral cooperation, long-term economic development
        and support fluid and resilient supply chains
    --  Enhanced governance mechanisms to ensure the Seaway provides the best
        value for Canadians and continues to deliver as a transportation
        corridor of strategic importance
    --  Modernized measures to strengthen relationships with Indigenous Peoples
        and local communities and improve climate change responsiveness and
        accountability

Under this new agreement, the Government of Canada and the St. Lawrence Seaway Management Corporation will continue working together to ensure the Seaway remains a reliable and efficient transportation corridor for domestic and international shipping.

Continuing to invest in a safe, secure, and efficient Seaway will support Canada's economic health and security and help maintain fluid and resilient global and North American supply chains.

"The Government of Canada is committed to supporting the Seaway's long-term economic growth and sustainability. We are working to make maritime trade as efficient and cost-effective as possible so people can get the goods they need, when they need them, at the best possible prices, and to support good, well-paying jobs in Canada."

The Honourable Pablo Rodriguez
Minister of Transport

"I am thrilled to kick-off the 66th navigation season on the St. Lawrence Seaway with a renewed agreement with the Canadian Government. This 20-year contract will allow us to continue the good work being done to ensure our system remains reliable, environmentally friendly, and cost-effective."

Terence Bowles
President and CEO
The St. Lawrence Seaway Management Corporation

    --  The signing of this agreement follows the St. Lawrence Seaway Review,
        which was launched by Transport Canada in 2017, to ensure the Seaway
        continues to be strategically positioned as a critical transportation
        corridor for North America. As part of this review, Transport Canada
        engaged Canadians, shippers, carriers, industry associations, provinces,
        municipalities, and Indigenous communities to examine challenges and
        opportunities for increased economic and commercial development, the
        waterway's competitiveness, sustainability, and the Seaway's governance
        structure. This feedback has helped build a stronger, more modern
        agreement--one that both parties can be proud of and one that is in the
        best interest of Canadians.
    --  The St. Lawrence Seaway is a cost-effective and efficient transporter of
        key bulk commodities, like grain, iron ore, petroleum products, stone,
        aggregates, and coal. In 2022, 4,008 cargo vessels transited the Seaway
        carrying 36.3 million tonnes of cargo valued at $16.7 billion.
    --  The St. Lawrence Seaway opened in 1959 and consists of 15 locks and
        connecting canals or channels extending from Montreal to Lake Erie, and
        more than 100 ports and commercial docks link to more than 40 provincial
        or interstate highways and to 30 railway lines.
    --  The Great Lakes St. Lawrence Seaway system extends 3,700 kilometres from
        the Atlantic Ocean through the Great Lakes. The Seaway provides a vital
        link to several Canadian ports, including the Port of Montréal, the
        Port of Hamilton, and the Port of Thunder Bay.
    --  Transport Canada published a What We Heard Report summarizing the
        findings of the Seaway Review.


    --  Backgrounder: Modernized Agreement with the St. Lawrence Seaway
        Management Corporation
    --  St. Lawrence Seaway review: what we heard
    --  Ports Modernization Review

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SOURCE Transport Canada - Ottawa