Great Lakes Iron Ore Trade Crumbles

Wednesday, January 14, 2009
With a majority of the nationís blast furnaces idled, the iron ore trade on the Great Lakes took one of its biggest plunges in decades. Shipments totaled only 3.1 million net tons, a decrease of 42 percent compared to a year ago. The comparison with the month's 5-year average was even worse. Shipments were down by nearly 50 percent. Due to very strong demand for iron ore until just a couple months ago, for the year the trade increased 1.1 million tons over 2007. Shipments also outperformed the tradeís 5-year average by 400,000 tons. The January 2009 iron ore float will continue the trend of the past couple months. Only 26 U.S.-Flag lakers were in service on the first of this year, a decrease of 35 hulls compared to January 1, 2008. Furthermore, a number of the vessels that were in service as this year began were on their final voyage or voyages of the year. 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 nationís economy: Iron ore and fluxstone for the steel industry, limestone and cement for the construction industry, coal for power generation.
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

China Issues New Rules on US DDG Imports

China's Import Inspection Authority, AQSIQ, is now requiring U.S. distiller's dried grains imports to be officially certified free of the MIR 162 GMO trait, the U.

Freeport Says Indonesia Exports Could Resume Soon

Freeport-McMoRan Inc said on Wednesday it expects to "imminently" sign an agreement with Indonesia that would enable it to immediately resume copper concentrate

Global Ocean Trade: Latest Shipbuilding Orders

No tankship orders noted the past week by Clarkson Hellas in their latest S&P Weekly Bulletin, but no lack of orders in the dry bulk carrier market, all from Far East shipbuilders.

 
 
Maritime Contracts Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
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: 0.1001 sec (10 req/sec)