Authorities are working to determine what is burning at the terminal, just east of the Helijet terminal, said John Parker-Jervis, a spokesperson for Port Metro Vancouver, on Wednesday afternoon.
Parker-Jervis added that the terminal has been shut down and employees have been evacuated.
The City of Vancouver tweeted that people should stay inside and close their windows. It also said Vancouver Police are assisting with traffic control in the area north of Hastings and east of Main streets.
Firefighters said CP Rail has also been advised to shut down the rail line. TransLink also tweeted that service on the West Coast Express may be delayed or cancelled.
Watch raw video of the fire.
A witness to the fire, Barry Duncan, tweeted the heavy smoke showed no signs of stopping.