Ok, so I started the list, and it was just as confusing. Really, you need to sit down with a map. Saying "the railyard on the waterfront" isn't helpful for describing a particular location in the Vancouver area, with two exceptions, all the yards are on or very close to waterfront and have some sort of waterfront industry activity going on.
I think the one you are talking about is the CPR yard along the north edge of Vancouver which serves (among many other things) Roger's Sugar, the Wheat Pool, WCE, etc etc. Yes there is lots going on down there train wise. Many of the old docks and such have been removed over time. I have no idea which are left. If you plan to do any railfanning, it has to be done from the Vancouver city streets. Unless you are on port business, you can't drive in there anymore.
