US Iron Ore Boosts St. Lawrence Seaway Shipping
With strong increases in iron ore and other cargo, total tonnage shipped via the St. Lawrence Seaway is up 20 percent over last year. The St. Lawrence Seaway Management Corporation reports that cargo shipments from March 20 to June 30 totaled more than 12 million metric tons – up two million metric tons over the same period in 2016. “St. Lawrence Seaway shipping is a bellwether for the health of the overall U.S. and Canadian economies and reflects strong demand for raw materials to support the automotive…
Interlake Steamship Moves First ‘Mustang’ Pellets
The 1,004-foot M/V James R. Barker has sailed from the Twin Ports with a new specialized cargo: 60,000 tons of Mustang superflux pellets – the first shipment of its kind since the new pellet production began at Cliffs Natural Resources Inc.’s United Taconite mine last month. The specialized Mustang pellets, which will be used for the automotive industry and other markets, contain a higher level of calcium added to dolomite and limestone than the standard taconite pellets. Production of Mustang pellets began in May…
Rio Tinto rejects Glencore Merger
Glencore approached Rio Tinto about a merger in July. A tie-up would have created the world's biggest miner. No further talks with Glencore after rejecting bid-Rio. Rio Tinto rejected a merger approach from smaller rival Glencore Plc to create a $160 billion mining and trading giant in August just as the price of its most profitable product, iron ore, slid toward a five-year low. The miner said on Tuesday Glencore had contacted it about a potential merger in July, adding that it turned Glencore down in August and there had been no further contact between the companies on a deal. A merger would have created the world's biggest miner, supplanting BHP Billiton.
U.S. Ports Defy Slower August Trend – Report Positive Tonnage
U.S. ports reported upticks in tonnage during the normal summer slowdown period. The Seaway’s year-to-date total cargo shipments from March 22 to August 31 were 22 million metric tons, up 3.5 percent from the same period last year. “In addition to the cargo shipments increase, vessel transits are up 9 percent from a year ago with the best performers in August being petroleum products, scrap metal and salt. This number shows that the marine trade, even in today’s tough economic times…
