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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Lerwick Harbor sees Seasonal Boost

The opening of the offshore season in northern waters has seen specialist oil industry vessels return to Lerwick Harbor during April to support subsea development projects.

India's Highest non-coking coal discharge at Gangavaram Port

Gangavaram Port, the deepest and the most modern port in the country, has created yet another historical milestone record by discharging 1,56,339 metric tons of Non-Coking Coal from the vessel M.

Baltic Index Down on Lower Capesize, Panamax Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped on Friday, as demand for capesize and panamax vessels fell.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Sonar
rss | archive | history | articles | privacy | 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: 0.0609 sec (16 req/sec)