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

Bulk Carrier Trends

China Shipyard Delivers Handymax Size Bulk Carrier

COSCO Corporation (Singapore) inform that its Dalian Shipyard in China has delivered a bulk carrier of 57000 dwt, named "GUOTOU 108", to its Asian buyer. The Handymax bulker measures 189.

ISC Expects Faltering Q1 2014 Financial Results

International Shipholding Corporation (ISC) provides preliminary guidance for first quarter 2014 results and announces timing of earnings release and conference call.

St. Lawrence Seaway Notices Update

The Great lakes St. Lawrence Seaway System today issued notices number nine and 10 regarding maximum allowable drafts in the Montreal section in Lake Ontario and

 
 
Maritime Contracts Maritime Standards Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Simulators Sonar Winch
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: 0.0962 sec (10 req/sec)