Ore Trade on the Great Lakes Takes a Dip in June

Ore Trade Drops in June

Shipments of iron ore on the Great Lakes and St. Lawrence Seaway totaled 6.2 million tons in June, a decrease of 6 percent compared to May, and nearly 5 percent below the level of a year ago.

Loadings at U.S. ports totaled 5.5 million tons, a decrease of 7 percent compared to a year ago.

Shipments from Canadian ports in the Seaway totaled 695,000, an increase of 19 percent, but in terms of tons, the trade rose perhaps five cargos for the month.

Through June, the Lakes/Seaway ore trade stands at 21.1 million tons, an increase of 10 percent compared to a year ago.

However, when compared to the 5-year average for the first half of the year, the trade is off by 10 percent.

Comparisons with the long-term average clearly illustrate how the severe ice conditions that prevailed on the Lakes from early January to late April of this year have impacted cargo movement.

Given that Great Lakes shipping is the nation’s raw materials lifeline, both houses of Congress are addressing the need for more U.S. Coast Guard ice breaking resources on the Lakes.

The House’s Coast Guard Authorization bill authorizes the Commandant to design and build a new icebreaker for the Lakes.

The Senate’s FY16 Homeland Security Authorization Act, once enacted, directs the Coast Guard to study if its icebreaking resources are adequate to perform that mission on the Great Lakes.

Lake Carriers’ Association represents 16 American companies that operate 56 U.S.-flag vessels on the Great Lakes and carry the raw materials that drive the nation’s economy: iron ore and fluxstone for the steel industry, aggregate and cement for the construction industry, coal for power generation, as well as salt, sand and grain. Collectively, these vessels can transport more than 115 million tons of cargo per year.

More information is available at www.lcaships.com.  

Categories: Business-imported, Life-imported, Money-imported, News-imported