Foreign Steel Cuts Lakers’ Ore Float in June
With foreign steel now commanding nearly 32 percent of the U.S. market, it was inevitable that iron ore cargos hauled in U.S.-flag Great Lakes freighters (lakers) would take a hit, and that hit came in June, the Lake Carriers’ Association (LCA) reported. Cargos totaled 4.4 million tons, a decrease of 17 percent compared to May and 10 percent compared to a year ago. “Although not unexpected, the slowdown in iron ore is troubling,” said LCA president James H.I. Weakley. “On average it takes about 1.5 tons of iron ore to make a ton of steel, so foreign steel that is dumped into the U.S. market takes ore and other cargos off the Lakes. It is imperative that the government enforce our trade laws…
The Fourth U.S. Coast
In 1970, the U.S. Congress designated the Great Lakes region as the U.S.' fourth seacoast; which, while geographically inaccurate, is completely on target in terms of the importance of trade within that area. One of the most important waterways, the region is home to the U.S.-Flag Lakes fleet, perhaps the most vibrant segment of the U.S. Merchant Marine. In terms of sheer numbers, the fleet is not large; with only approximately 70 large self-propelled vessels and tug/barge units in the dry- and liquid-bulk trades and another 20 smaller tug/barge units engaged in primarily moving liquid-bulk products. However, in a typical shipping season, the U.S.-Flag Lakes fleet will haul upward of 115 million tons, or almost half a ton for every person living in the continental U.S., Alaska and Hawaii.
