Seaway Concludes 53rd Navigation Season

press release
Tuesday, January 17, 2012

The St. Lawrence Seaway closed for the season on December 30, 2011, with the westbound vessel Algoma Spirit reaching Lake Ontario at 7:54 a.m. after having transited the locks on the St. Lawrence River.

 

The Seaway’s 53rd navigation season commenced on March 22nd, and the system remained open for a record 284 days, exceeding by one day the previous record set in 2006. The tug / barge combination John Spence / Niagara Spirit was the last vessel to transit the Welland Canal, clearing Port Colborne December 30th at 8:26 p.m. on its way to Lake Erie. The St. Lawrence Seaway’s positive momentum remained intact in 2011, with tonnage volumes rising by 2.5% to reach an estimated 37.5 million tonnes.  Trade patterns exhibited a number of changes, most notably with iron ore and coal becoming export commodities due to strong overseas demand.  Grain volumes decreased overall by some 6.4% due to a decrease in the amount of U.S. grain moving via the Seaway.  Strong increases in the volume of bulk liquids, salt and scrap metal contributed to an overall cargo increase of 930,000 tonnes for the system’s 2011 season.
Terence Bowles, President and CEO of the St. Lawrence Seaway Management Corporation, noted that the year brought about some significant progress on a number of fronts.  “We recognize that while some of our core markets remain under pressure, work is progressing in terms of diversifying our market base, containing our costs, and increasing the system’s productivity.  Over the last four years, our market development efforts have generated $12.5 million in new business revenue” said Bowles.


“In addition to advances in cargo volumes, we achieved a good deal of progress in 2011 on a number of other fronts” said Bowles.  “In October of 2011, a new three-year labour agreement was ratified, extending to March 31, 2014. We reached a fair settlement that controls our costs and ensures that our customers can continue to experience reliable service.”


“This is the second consecutive year of increases in Seaway traffic and tonnage, reflecting the resilience of the North American economy” said Collister Johnson, Jr., Administrator of the U.S. Saint Lawrence Seaway Development Corporation. A recently published economic impact study, commissioned by Marine Delivers, demonstrates the significant role that the Great Lakes / Seaway system plays in supporting the Canadian and U.S. economies.  Some 227,000 jobs and $34 billion in economic activity are supported by the movement of goods within the Great Lakes / Seaway waterway. Since its inception in 1959, over 2.5 billion tonnes valued in excess of $375 billion has been transported via the Seaway.  For more information on the Seaway, including access to the full text of the economic impact study, please consult the www.greatlakes-seaway.com website.
 

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

People & Company News

NSRP Risk Management Panel and SCA Joint Meeting

The National Shipbuilding Research Program (NSRP) Risk Management Panel will be meeting jointly with the Shipbuilders Council of America (SCA) November 5-6, 2014 in Virginia Beach, Va.

WEG to Showcase Drive Solutions at SMM

WEG, a global supplier of drive systems, will showcase its range of systems for the shipbuilding and offshore industry at this year’s SMM (Shipbuilding, Machinery & Marine Technology Fair) in Hamburg.

Kirby Reports Record Q2 2014

Record 2014 second quarter earnings per share of $1.31 compared with $1.11 in the 2013 second quarter, which included a $0.07 benefit due to the reduction of the United earnout liability.

Bulk Carrier Trends

Redwood City Sees Cargo Movement Boost

Port of Redwood City reports 19% increase in cargo movement; highest since 2006 and third highest in modern history Reflecting a significant increase in construction

Nordic American Offshore Declares 2Q Dividend

Nordic American Offshore Ltd. announced that its Board of Directors has declared a dividend of $0.45 per common share for the second quarter 2014. This is the same as for the first quarter 2014.

Vale Profit Falls Amidst Record Output

Brazilian miner Vale SA posted a sharp decline in profit from the previous quarter as lower iron ore prices undermined record production of the steel-making ingredient.

News

NSRP Risk Management Panel and SCA Joint Meeting

The National Shipbuilding Research Program (NSRP) Risk Management Panel will be meeting jointly with the Shipbuilders Council of America (SCA) November 5-6, 2014 in Virginia Beach, Va.

US DOE Approves Oregon LNG Export Project

The U.S. Energy Department said on Thursday it has approved Oregon LNG to export liquefied natural gas, as the Obama administration works through applications to

CFOA Schedules Annual Conference

The 2014 Canadian Ferry Operators Association (CFOA) annual AGM & Conference is scheduled to take place September 29-30 in Quebec City. The two-day conference

 
 
Maritime Security Maritime Standards Offshore Oil Pipelines Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
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: 0.4400 sec (2 req/sec)