Pinnacle responds to Fibreco silo incident

By Pinnacle Renewable Energy | September 23, 2020

Pinnacle Renewable Energy on Sept. 22 reported that in response to the disruption in service caused by the structural failure of a silo at the Fibreco Export Inc. shipping terminal in North Vancouver that occurred on Sept. 11, 2020, the company has temporarily diverted all pellet shipping activity to its wholly owned Westview shipping terminal in Prince Rupert, British Columbia. No Pinnacle pellets were damaged as a result of the Fibreco incident. 

"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 minimizing disruption to our business," commented Rob McCurdy, CEO of Pinnacle. "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 at this time when Fibreco will resume shipping activities, Pinnacle is working to minimize the impact from this disruption on the company. Pinnacle expects to have additional costs during Q3 2020 related to demurrage as a result of the redirection of a ship to Westview and additional rail expenses related to moving pellet inventory from Pinnacle's southern B.C. mills to Westview. These additional costs are not expected to have a material impact on the business.