Catastrophic economic impact of B.C. floods
The B.C. floods have crippled the flow of cargo in and out of Vancouver ports, further damaging already pandemic-strained supply issues. That presents a huge cost to the local and national economy.
"This supply chain delivers fuel, food, medicine and essential goods to Canadians and supports an agriculture sector that is facing catastrophic impact," said Oman Alghabra, minister of Transport Canada.
Sections of some major connector roads are washed away, bridges are destroyed, Highway 1 east is flooded and sections of the main rail corridors from Vancouver to points east are closed after some lines washed out. Vancouver is cut-off from the rest of the country.
In a statement, the Vancouver Fraser Port Authority said: "The Vancouver gateway is experiencing significantly disrupted rail and truck movement due to widespread flooding throughout the Metro Vancouver and Fraser Valley regions. Despite these impacts, marine terminals at the Port of Vancouver are still operating."
However, the cargo and supply lines could clog up with nowhere for the goods to go and no route in for exports.
Disrupted terminal operations are expected. Around noon on Thursday, there were 33 cargo vessels anchored in Burrard Inlet all the way up to Deep Cove. On Friday morning, the Vancouver Fraser Port Authority said it had 42 vessels at anchor.
Neither of the country's two rail lines have a timeline when repairs will be complete.
"CN crews continue to make progress on critical repair work following the mud slides and washouts that impacted CN’s rail network in British Columbia. Traffic through southern B.C., northbound and eastbound traffic from Vancouver, as well as inbound traffic to Vancouver from east/north of Kamloops are still affected by the situation," writes Mathieu Gaudreault, CN Railway senior advisor of medial relations.
Canadian Pacific Railway issued a statement saying, "CP's operations between Spences Bridge and Falls Creek, B.C., remain suspended following heavy rains that have resulted in multiple track outages."
"I'm going to use the word catastrophe," said Trevor Heaver, an emeritus professor with the University of B.C.'s Sauder School of Business. "We really don't have any precedent by which to judge the magnitude of the effect."
The supply chain disruption is the perfect storm coming in the wake of pandemic supply issues in the middle of the holiday shopping season.
Vancouver ports export about four times as much goods as imports, but either way the impact on the economy is significant.
"The economic impact of the flooding overall is going to have many ramifications and also for a long time, and it's also going to take a considerable time for our supply chains, import and export, to be able to get back to normal," added Heaver.
He expects it could be well into next year before we begin to see anything resembling normal.
CTVNews.ca Top Stories
What is whooping cough and should Canadians be concerned as Europe declares outbreak?
There is currently a whooping cough epidemic in Europe, with 10 times as many cases compared to the previous two years. While an outbreak has not been declared nationwide in Canada, whooping cough is regularly detected in the country.
Ontario Provincial Police arrest 64 suspects in child sexual exploitation investigation
Ontario Provincial Police say 64 suspects are facing a combined 348 charges in connection with a series of child sexual exploitation investigations that spanned the province.
'Summer of discontent': Federal unions vow to fight new 3-day a week office mandate
Federal unions are launching legal challenges and encouraging public sector workers to file "tens of thousands" of grievances over the new mandate requiring federal workers to return to the office at least three days a week in the fall.
Watch fighter jet pilots pummel fake enemy ship off coast of Philippines
The United States and Philippines held annual joint-training drills just off the Southeast Asian nation’s western coast on Wednesday. Military forces sunk a 'mock' enemy warship – the BRP Lake Caliraya, which was a decommissioned tanker made in China.
'Ozempic babies': Reports of surprise pregnancies raise new questions about weight loss drugs
Numerous women have shared stories of 'Ozempic babies' on social media. But the joy some experience in discovering pregnancies may come with anxiety about the unknowns.
OPINION What King Charles' schedule being too 'full' to accommodate son suggests
Prince Harry, the Duke of Sussex, has made headlines with his recent arrival in the U.K., this time to celebrate all things Invictus. But upon the prince landing in the U.K., we have already had confirmation that King Charles III won't have time to see his youngest son during his brief visit.
'I killed four people': Trial hears video evidence of Jeremy Skibicki at Winnipeg trial
“I killed four people,” alleged serial killer Jeremy Skibicki told two homicide detectives during a recorded interview played as evidence in his trial Wednesday.
AstraZeneca says it will withdraw COVID-19 vaccine globally as demand dips
AstraZeneca said on Tuesday it had initiated the worldwide withdrawal of its COVID-19 vaccine due to a 'surplus of available updated vaccines' since the pandemic.
Seafood, eat food: Calgary Stampede releases Midway menu
The Calgary Stampede has released its menu of sweet, salty and spicy treats available on the Midway for the Greatest Outdoor Show on Earth.