We are your ally
Purposeful action, tangible results
2021 annual report
We are
THE LARGEST MARITIME SHIPPING HUB AT THE HEAD OF THE ST. LAWRENCE
A STRATEGIC PARTNER IN THE REGION’S ECONOMIC DEVELOPMENT
A PILLAR OF OUR COMMUNITY
Mission
The Port of Sept-Îles promotes partnership and sustainable regional development in providing quality facilities and services and leveraging the natural advantages of the Bay of Sept-Îles.
Values
The Port of Sept-Îles’s performance hinges on the values of partnership, commitment, customer service, professionalism, and expertise. Our tight-knit crew is driven by a sense of pride, purpose, solidarity, and a desire to excel. These values define who we are, what we hold dear, and what inspires us.
Our performance at a glance
$25
million in gross revenue
506
ships
32.1 Mt
of goods handled
$385K
in community
donations
Highlights
IP ZONE – Participation on the local committee
The IP Zone is the area closest to the Port of Sept-Îles’s service facilities and road and rail infrastructure. Companies in the IP Zone find it easier to bring in materials and ship their products to North American and international markets. This geographic proximity is a competitive advantage for processing and logistics sector stakeholders in particular, allowing them to leverage best-in-class facilities, streamline their operations, and share port infrastructure and services.
“The timing couldn’t be better for the Pointe-aux-Basques intermodal terminal to reopen and meet the region’s sustainable transport needs as a logical, welcome alternative for the non-standard road traffic using Route 138.”
Pierre D. Gagnon,
Port of Sept-Îles President and CEO
Pointe-aux-basques | terminal
OCTOBER 25 2021 | Chantal Rouleau, Quebec’s Minister for Transport and Minister Responsible for the Metropolis and the Montreal Region, and Jonatan Julien, Quebec’s Minister of Energy and Natural Resources and Minister Responsible for the Côte-Nord Region, were the guests of honour at a traditional ribbon-cutting ceremony to celebrate the completion of work at the Pointe-aux-Basques Terminal, restoring its status as a vital inland gateway and maritime link to the remote villages on the Lower North Shore. The $20 million project was awarded to LFG Construction in May 2020 and funded equally by the Canadian government’s National Trade Corridors Fund (NTCF), Ministère des Transports du Québec’s Programme de soutien aux investissements dans les infrastructures de transport maritime (PSIITM), and the Port of Sept-Îles. Thanks to the efforts of over 150 workers at its peak, the project was completed in September 2021 on time and on budget. The resulting structure will be better equipped to handle maritime and intermodal transport and climate change. POINTE-
“This partnership with Microbrasserie La Compagnie has exceeded our every expectation! We are firmly committed to staying the course and supporting organizations that come to the aid of families, especially during the pandemic. We’re very proud to have been there for the families who use L’Envol-Maison de la Famille.”
Pierre D. Gagnon,
Port of Sept-Îles President and CEO
Pointe-aux-basques | Commemorative beer
AUGUST 18 2021 | The Port of Sept-Îles and Microbrasserie La Compagnie are pleased to announce sales from their Pointe aux Basques beer have generated a second donation of $3,000 to L’Envol-Maison de la Famille on top of the initial $2,000 donation in December 2019. On Open House Day at the Monseigneur-Blanche Dock two years ago, the Port of Sept-Îles and Microbrasserie La Compagnie unveiled the results of a joint initiative to commemorate the local port authority’s 20 years of autonomy: a new craft beer aptly named “Pointe aux Basques.” The Port and the microbrewery committed to donating a portion of every Pointe aux Basques beer sold to a community organization working to support Sept-Îles families. The partners are pleased to announce they plan to continue paying it forward to other family services providers, with the next round of donations going to À la Source, an organization that provides assistance, breastfeeding support, and accommodations to families travelling to Sept-Îles for a birth. We are so proud of our award-winning beer. Cheers!
A word from the chairs
We are an ally of the community
It was another pandemic year marked by challenging lows on many levels, but we weathered the storm thanks to invaluable support from local organizations and individuals who understand the vital role this strategic and logistics hub plays for the business community and especially for local families and the most vulnerable among us. We pay tribute to them.
Pierre D. Gagnon
Port of Sept-Îles President and CEO
Carol Soucy
Chairman of the board
Community
Report
WE STAND in solidarity and partnership, knowing that our actions have a huge impact on people, and families in particular. With the pandemic still very much a reality, this has never mattered more, which is why we continue to offer support in ways that meet the community’s ever-changing needs—some $400,000 in invaluable financial assistance in 2021. These initiatives and partnerships took various forms, including an advertising campaign with TVA to promote four community organizations. The four-week broadcasts allowed both the Port and its partners to reach new and different audiences and share what we do—something out of reach for most community organizations. We are particularly proud of the announcement and implementation of a joint project with the City of Sept-Îles for a rather impressive revamp of Aylmer-Whittom Park.
Our community network is expanding and we couldn’t be more proud! Contributing to the well-being of our fellow citizens and neighbours is incredibly rewarding.
- Comptoir alimentaire de Sept-Îles
- OMH Sept-Îles
- SPCA
- L’Élyme des sables, maison de soins palliatifs de Sept-Îles
- Vieux-Quai en fête
- Centre d’action bénévole Le Virage de Sept-Îles
- Centre d’action bénévole de Port-Cartier
- Centraide Duplessis
- Salon du livre de la Côte-Nord
- Hommes Sept-Ils
- À la source Sept-Îles
- L'Envol, maison de la famille
- L'Âtre de Sept-Îles
Port operations
Report
“In 2022 new volumes are expected to allow the Port to hit a historic high, crossing the 40 million MT mark to become Canada’s second largest port in terms of business volume.”
Pierre D. Gagnon,
Port of Sept-Îles President and CEO
Second best year since the creation of the Port Authority
With 32.1 million MT, 2021 was the Port’s second best year since the Port Authority was created in 1999, albeit 3% lower than the previous year’s 33.1 million MT. A highly respectable level of activity that earned the Port of Sept-Îles third place among all Canadian ports. The slight decline came on the heels of five straight years of growth mainly due to the commissioning of the Pointe-Noire Multi-user Dock’s world-class facilities. Most of the shortfall can be explained by the dip in iron ore shipments due to equipment breakdowns and incidents affecting production for some of our users.
Environmental
Report
The Port of Sept-Îles is evaluating its environmental performance through Green Marine, a voluntary initiative that looks at issues of concern for the maritime industry, including invasive species, greenhouse gases, spill prevention, waste, underwater noise, and community relations.
In 2021 the Port further demonstrated its leadership by providing significant financial support to advance scientific research around the Port of Sept-Îles, specifically through Université Laval’s Research Chair on Coastal Ecosystems and Port, Industrial and Maritime Activities. An underwater noise acoustic survey was conducted in the Bay of Sept-Îles and will continue over the next few years.
We also conducted a waste characterization survey to help the Port reduce waste and identify best management practices. The group project was carried out with two of our users, Ocean Group and Logistec Stevedoring, through a grant from the Fonds Écoleader and with the support of a subject matter expert.
We also redeveloped 101 Brochu near Retty street so the land can be used in ways better aligned with the surrounding residential areas. The project was carried out in collaboration with LFG Construction, which also did the repairs to the Pointe-aux-Basques Dock. Thanks to their involvement, it became the first GHG emissions–offset project at the Port of Sept-Îles.
About Green Marine
Green Marine is a voluntary environmental certification program for the maritime industry. Participants include shipowners, ports, terminals, Seaway corporations, and shipyards in Canada, the United States, and now also Europe. Membership in the program has grown steadily since its inception. In 2021 the program had 390 members, including 154 participants, 113 partners, 38 association members, and 85 supporters.
Financial
Balance sheet
Gross revenue held steady at $24.6 million again this year, despite a slight 3% decline in annual volume. Longer dockside stays resulting in higher revenue helped us close the gap.
At $16.2 million, operating expenses went up 15%, largely due to emergency repairs required at the Monseigneur-Blanche Dock and payments in lieu of taxes with the municipality.
The increase affected our operating income, which closed the year at $8.5 million, down $2.1 million from last year.
Other line items were significantly impacted by contractual obligations from the Multi-user Dock and changes in the fair market value of interest-rate swaps.
The overall result was a positive balance of $18.1 million, up from $12.8 million the year before. Key investments made in 2021 went to the Pointe-aux-Basques Terminal rehabilitation project ($2.8 million), upgrades to the Pétroliers and Cruise Ship docks ($0.7 million), and a new hangar at the Multi-user Dock ($0.2 million).
Leading the way in navigating the energy transition
To ensure the resilience and competitiveness of the broader industry it serves and to fully embody its role as a driver of change and innovation, the Port of Sept-Îles will develop unique partnerships with regional economic development collaborators to foster green energy projects and gradually decarbonize local industry. As a recognized leader in environmental monitoring on the St. Lawrence, we will apply the same forward-looking approach to adapting our port facilities to leverage new energy opportunities over the next decade and promote the sustainable development of the Bay of Sept-Îles’s industries and ecosystems.
