Great Lakes Iron Ore Dips in Oct

Monday, November 17, 2008

Iron ore shipments on the Great Lakes totaled 5.7 million net tons in October, a slight decrease from both a year ago and the month’s 5-year average.

Shipments from Canadian Seaway ports reacted much quicker to the downturn in steel production, falling some 32 percent from a year ago. U.S. ports actually outperformed a year ago, but shipments did start to fall off in the final week of October.

For the year, the Great Lakes iron ore trade stands at 51.2 million net tons, an increase of 8 percent compared to both a year ago and the 5-year average for the January-October timeframe. However, the capacity utilization rate in the steel industry has fallen to 65 percent and steel mill shipments are now below last year’s year-to-date level, so whether the increase in iron ore can be maintained remains to be seen.

Lake Carriers’ Association represents 16 American corporations that operate 63 U.S.-Flag vessels on the Great Lakes. These vessels carry the raw materials that drive the nation’s economy: Iron ore and fluxstone for the steel industry, limestone and cement for the construction industry, coal for power generation. Collectively, these vessels can transport more than 115 million tons of cargo a year when high water levels offset the lack of adequate dredging of Great Lakes ports and waterways.

(Source: Lake Carriers’ Association)

Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

ZIM Launches Monitoring and Tracking Service

ZIM integrated shipping services has announced the launching of a new monitoring, tracking and security services package, specifically designed for valuable and

Port of Indiana-Jeffersonville Sets Shipping Record

Grain, steel, salt help port exceed 2 million tons for first time in 29-year history   The Port of Indiana-Jeffersonville handled over 2.4 million tons of cargo in 2014,

Great Lakes Coal Falls Short in 2014

Despite a nearly 1-million ton increase in coal shipments on the Great Lakes in December, the surge was not enough to enable the trade to outperform 2013, the Lake Carriers’ Association (LCA) said,

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1043 sec (10 req/sec)