By Duncan Cairns-Brenner

North West Terminal posts multi-million dollar profit despite plummeting fuel-ethanol prices

Feb 9, 2016 | 7:49 AM

North West Terminal, a Unity based inland-grain terminal and bio-products company, has posted a multi-million dollar net revenue this year despite collapsing fuel-ethanol prices.

The company posted a net profit of $6.6 million for the 2015 fiscal year, only slightly lower than the company’s 2014 $6.7 million profit.

Company CEO Jason Skinner attributed the company’s steady profit to an increase in the grain side of the business. 

“We saw lower returns out of our bio-products side of our business,” Skinner said. “We had an increase in revenues out of the grain side of our business, and a lot of that I would attribute to just handling larger quantities of grain through our grain operations.”

Despite the falling price of fuel-ethanol Skinner is positive about the place of bio-products as an important part of the company’s future. 

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“I think that similar to grain, fuel ethanol is a commodity, so we do see cycles where it goes up and down,” Skinner said. “I think we’re seeing a downturn in that cycle but at some point in the future that will be an upturn again.”

North West Terminal moved a record 515,000 metric tonnes of grain in 2015.

“Over the past year we have expanded our railcar siding here and we can now handle unit trains of 150 railcars,” Skinner said. “In addition to that we had expanded our access to two major railways that come through our area in western Canada.”

dcairnsbrenner@jpbg.ca