Pinnacle responds to Fibreco silo collapse incident

Pinnacle Renewable Energy has responded to an incident in which a silo collapsed at the Fibreco Export shipping terminal in North Vancouver.

On 11 September, Pinnacle temporarily diverted all shipping activity to its wholly-owned Westview shipping terminal in Prince Rupert, British Columbia. The firm reported no pellets were damaged as a result of the incident.

Rob McCurdy, CEO of Pinnacle, said: “We commend the team at Pinnacle for their fast response in diverting shipping activities scheduled at the Fibreco terminal to our own Westview terminal and minimising disruption to our business.

“This is another example of the positive benefits of our shipping terminal diversification strategy which contributes to Pinnacle being among the lowest risk wood pellet producers in the world.”

As it is unclear when Fibreco will resume shipping activities, Pinnacle is working to minimise the impact of the disruption. The firm expects to have additional costs during the third quarter related to demurrage as a result of the redirection to Westview, and additional rail expenses related to moving inventory.

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