The west coast port of Prince Rupert has been chosen as the site for a major potash export terminal, which is great news for CN. Asian demand for the fertilizer should continue to increase strongly, in spite of surging prices.
From the Globe and Mail-
Potash boom lifts Prince Rupert port
VANCOUVER - The potash boom touched down in Prince Rupert, B.C., Wednesday as Canpotex Ltd. said it would build a new export terminal to boost Asian shipments of the high-demand fertilizer as part of a $500-million expansion plan.
To nearly double its export capacity to 23 million tonnes a year from 12 million, Canpotex, which markets potash internationally for Saskatchewan producers, also plans to expand a Vancouver facility.
The win for Prince Rupert over a rival site in Cherry Point, Wash., is the latest and most visible sign of how the northwestern British Columbia port town is riding global demand for commodities.
Long battered by the declines of British Columbia’s forestry and fishing industries, Prince Rupert has more recently been buoyed by increased bulk exports of coal and grain, the main products moving through the port.
About half of Canpotex’s added capacity will be at the new terminal in Prince Rupert, which is expected to cost roughly $300-million.
full article-
http://www.theglobeandmail.com/servlet/story/RTGAM.20080626.wrcanpotex26/BNStory/robColumnsBlogs/