Canpotex to Decide on West Coast Terminal Expansion by Late 2016

Reuters reported that the new Canpotex CEO said it expects to decide on West Coast terminal expansion by late next year.
As quoted in the market news:

The new chief executive of Canpotex Ltd expects the Canadian potash trader to decide around late 2016 where to expand West Coast terminal capacity, a move that could give it a faster route to Chinese buyers in a highly competitive market.
Options include building a C$775 million ($580.61 million) terminal at Prince Rupert, British Columbia, which would allow Canpotex to bypass busy Port Metro Vancouver and cut shipping times to China by two days, said CEO Ken Seitz, in an phone interview from Saskatoon, Saskatchewan.
“We never want ports to be the bottleneck, so we need sufficient capacity,” Seitz, 46, said. “If we take a long-term view, we believe that to properly position ourselves, we’ll need more port capacity somewhere.”
Canpotex, owned by miners Potash Corp of Saskatchewan POT.TO, Mosaic Co MOS.N and Agrium Inc AGU.TO, could instead expand facilities at Vancouver, British Columbia or Portland, Oregon, he said. Canpotex accounts for about 20 percent of global sales of potash, used to fertilize corn and other crops.

Click here to read the full Reuters report.