SEPT-ÎLES, January 23, 2009 – The Port of Sept-Îles is pleased to announce that it has renewed its Twin Port agreement originally signed in 1992 with the Port of Vancouver. The ceremony was held today at the Port of Sept-Îles in the presence of Captain Gordon Houston, President & Chief Executive Officer of Port Metro Vancouver, Carol Soucy and Pierre D. Gagnon, respectively Chairman and Chief Executive Officer or the Port of Sept-Îles and other distinguished guests of the Sept-Îles community.

The original agreement was a first among Ports in Canada. For more than fifteen years the Twin Ports have benefited from each others expertise and know how in their respective fields. Over the years, members of each Port have liaised with each other in order to exchange on different avenues such as trade corridors, bulk cargo, the container industry as well as the cruise line market. Promoting the use of short-sea shipping is also at the heart of the sustainable development strategies of both ports in order to support initiatives in the overall reduction of greenhouse gas emissions.

In the past year, both Ports have gone through major changes with the amalgamation of three ports on the west coast to create Port Metro Vancouver and a new modern image for the Port of Sept-Îles. “With these major changes at both Ports, the timing was right to renew our Twin Port Agreement. We wish to continue to share expertise from which the other can benefit and pursue with our shared vision of fostering the growth of our Canadian port system,” declared Captain Gordon Houston and Pierre D. Gagnon.

“Recent studies revealed that maritime transportation might more than double in Canada by 2015. As the two largest bulk ports in Canada, we reaffirm today that our willingness to continue the cooperation and assistance is the right action in order to maximize this growth opportunity for our respective regions,” declared Carol Soucy, Chairman of the Port of Sept-Îles.

The Port of Sept-Îles is in the forefront of the region’s economy and plays a key role in its development. The Port’s annual economic impact has been estimated at $1 billion, with some 4,000 direct and indirect jobs.