U.S.-Flag Cargo Movement on Lakes Slows

Friday, November 21, 2008

The U.S.-Flag Great Lakes fleet hauled 11.1 million net tons of cargo in October, a slight decrease from both a year ago and the month’s 5-year average.

The downturn in steel production did not translate into a drop in iron ore cargos in October. Loadings in U.S. bottoms actually increased by 160,000 net tons. However, five U.S.-Flag Lakers are now laid-up for the year, primarily because of the slowdown at the nation’s steel mills.

The dredging crisis also impacted cargo totals. With the water level on Lake Superior receding, the largest vessels were trimming some 2,000 tons off their loads compared to just a month ago. The U.S. Army Corps of Engineers needs to remove 17 million cubic yards of sediment from ports throughout the system, but Federal funding remains inadequate. Restoring the Great Lakes navigation system to project dimensions would provide a real economic stimulus to the economy at no additional cost to the taxpayer or Federal government. The Harbor Maintenance Trust Fund (HMTF) that pays for dredging with taxes on waterborne commerce has a surplus of nearly $5 billion.

The Lakes dredging crisis could be solved with an allocation of about $230 million, or less than 5 percent of the surplus in the HMTF. For the year, U.S.-Flag carriage stands at 85.2 million net tons, a slight increase (200,000 net tons) compared to a year ago, but down about 1 percent (or 800,000 net tons) from the 5-year average for the January-October timeframe.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

COSCO Delivers Bulker

The Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO (Dalian) Shipyard Co., Ltd a subsidiary of the Company's 51% owned COSCO Shipyard Group Co.

NewLead Fixes Newcomer, "Newlead Castellano"

NewLead Holdings Ltd. announced today that it has entered into a time charter contract for the recently delivered Handysize vessel, the "Newlead Castellano".

Great Lakes Coal up More Than 12% in September

Lake Carriers’ Association reported that coal shipments on the Great Lakes totaled 3 million tons in September, an increase of more than 12 percent compared to a year ago.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Pipelines Pod Propulsion Salvage Ship Repair Ship Simulators 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: 0.1990 sec (5 req/sec)