The major northern port on the West Coast is planning a new facility to transfer bulk exports into containers for shipping overseas, at an estimated cost of $750 million. CIB’s loan will go towards helping prepare the site on the port’s Ridley Island. (The Logic)

Talking point: The Canxport logistics project is CIB’s first investment in a port. If bulk goods like grain and wood pulp can be put in containers, that increases buyers’ shipping options. Canada also tends to have empty containers cluttering its ports after they’re used to transport finished goods here from Asia, and loading commodities into them—up to 400,000 small containers’ worth at first—should alleviate some of that congestion. The Prince Rupert project, to be built by Ray-Mont Logistics, also involves three local First Nations.