U.S Flag Lakers - Steel Slowdown Apparent

Thursday, December 18, 2008

The downturn in steel production impacted U.S.-Flag lakers’ November iron ore float. The fleet moved 3.9 million net tons of iron ore in November, a decrease of 3.2 percent compared to a year ago, and a drop of 8.8 percent compared to the month’s 5-year average. Not one iron ore cargo was transshipped in November, as the steel mill in Cleveland, Ohio, has idled its blast furnaces. The last time the iron ore trade on the Cuyahoga River was silent during the shipping season was in 2001 when LTV Steel was facing extinction.

The decrease in iron ore cargos in November was actually greater than the totals suggest. The fleet experienced significant weather-related delays in November of 2007. The 4 million net tons that moved a year ago were not indicative of demand.

The dredging crisis did not help matters in November. Even the top iron ore loads were 8,000 tons or more below vessels’ rated capacities.

For the year, U.S.-Flag carriage stands at 95.2 million net tons, an increase of roughly 700,000 net tons over the same point in 2007. However, the U.S.-Flag float lags behind the 5-year average for the January-November timeframe by 850,000 net tons.

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

Bulk Carrier Trends

Baltic Sea Freight Index Falls to Lowest Level Since 1986

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, spiralled downwards to its lowest level in nearly three

Pacifica Rolls Out New Container Vessel

Pacifica Shipping, New Zealand's coastal shipping company, is launching a new container vessel from March replacing a smaller vessel whose charter has ended, reports The Stuff.

Shipping Pollution Will Skyrocket -Study

International freight volumes will grow fourfold by 2050 while the average length of haul will increase by 12 percent over that time, trends that will cause a spike

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Electronics 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: 0.1263 sec (8 req/sec)