WESTSHORE TERMINALS ANNOUNCES 2024 ACTUAL VOLUME AND 2025 VOLUME PROJECTION

WESTSHORE TERMINALS ANNOUNCES 2024 ACTUAL VOLUME AND 2025 VOLUME PROJECTION

VANCOUVER, BC, Jan. 8, 2025 /CNW/ - Westshore Terminals Investment Corporation (TSX: WTE) (the "Corporation") announced today that its wholly-owned subsidiary Westshore Terminals Limited Partnership ("Westshore") loaded 26.8 million tonnes of product in the year ended December 31, 2024. Adverse weather conditions in the fourth quarter of 2024 hampered operations to a greater degree than usual. In November and December the South Coast of British Columbia was hit with a series of storms that were more severe than normal in both frequency and duration. In addition, unscheduled maintenance prevented loading at Berth 1 for seven days in mid-November. The average loading rate charged to customers for 2024 as a whole was $13.76 per tonne.

Based on information currently available to Westshore, loading volume for 2025 as a whole is projected to be approximately 26.5 million tonnes, at an average loading rate for the year of $13.55 per tonne.

In late December, 2024, Westshore experienced a fire on part of one of its four stacker-reclaimers. Repair work will require replacement of a structural element of the stacker, which is expected to take approximately two months, including fabrication. With operational adjustments, Westshore is able to function at normal levels with three stacker-reclaimers, and does not anticipate any material impact on productivity as a result of the fourth stacker being unavailable for this duration. The foregoing statements concerning anticipated 2025 loading volumes and loading rates are forward-looking statements that reflect the current expectations of the Corporation with respect to future events and performance. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether such performance or results will be achieved.

Forward-looking statements are based on information available at the time they are made, assumptions made by management, and management's good faith belief with respect to future events and will be impacted by and are subject to the risks and uncertainties outlined in the Corporation's Annual Information Form that could cause actual performance or results to differ materially from those reflected in the forward-looking statements, historical results or current expectations.

SOURCE Westshore Terminals Investment Corporation