The first short-sea service between DP World’s Fraser Surrey and Nanaimo terminal in Duke Point started this week as part of the new 50-year lease agreement finalized in February 2021 between the Port of Nanaimo and DP World. The Duke Point agreement provides a long-term port-to-port solution for short-sea shipping and expands direct access from Nanaimo to global import/export markets via direct calls to Asia. The signed agreement is an important first step in the planned terminal expansion, currently estimated at $105 million. It is funded through a mix of public and private investment, including a $46.2 million federal contribution through the National Trade Corridors Fund (NTCF) and a $15 million provincial contribution as a part of British Columbia’s Economic Recovery Plan.
