S Courtney Burton News

Steamship Company, a wholly-owned subsidiary of GATX Corporation. Middletown, S/S Courtney Burton, and M/V Fred R. White. progressing with its negotiations for the sale of the M/V David Z. Earl W. Oglebay to an unidentified purchaser. Great Lakes through a favorable, long-term contract of affreightment.

U.S.-Flag shipments of dry-bulk cargo on the Great Lakes in June totaled 11.4 million net tons, a decrease of 3 percent compared to a year ago. However, the June total represents the second month in a row in which the gap between this season and last has narrowed significantly. The 2002 season began with a 20-percent decrease in April, the first full month of navigation in the dry-bulk trades, but May float was down by 9.4 percent. Another positive sign in June was the sailing of three idled lakers. Oglebay Norton Marine Services Company activated its BUCKEYE on June 8 and its COURTNEY BURTON on June 15. Both vessels are mid-sized self-unloaders. Interlake Steamship sailed its 1,000-footer JAMES R. BARKER on June 29.

U.S.-flag Great Lakes vessels hauled 101.3 million tons of cargo in 2002, a slight decrease compared to 2001. Even the one gain - 1.2 million tons of iron ore - is misleading. During 2001, LTV Steel, the nation's third largest producer, was continually reducing its iron ore requirements as it limped toward bankruptcy and then closure. ISG relit those blast furnaces in mid 2002, so the upturn reflects a resumption of production at those facilities in Ohio and Indiana. In reality, the 48.2 million tons of iron ore moved in U.S. bottoms in 2002 represent a decrease of 24 percent compared to 1997. It was in that year that foreign steelmakers, facing contracting markets in Asia, began dumping their excess production in the United States.