GLIN==> Lakes ore trade crumbled in December

With a majority of the nation’s blast furnaces idled, the iron ore trade on the Great Lakes took one of its biggest plunges in surely what are decades. Shipments totaled only 3.1 million net tons, a decrease of 42 percent compared to a year ago.

The comparison with the month’s 5-year average was even worse: Shipments were down by nearly 50 percent.

Due to very strong demand for iron ore until just a couple months ago, for the year the trade increased 1.1 million tons over 2007. Shipments also outperformed the trade’s 5-year average by 400,000 tons.

The January 2009 iron ore float will continue the trend of the past couple months. Only 26 U.S.-Flag lakers were in service on the first of this year, a decrease of 35 hulls compared to January 1, 2008. Furthermore, a number of the vessels that were in service as this year began were on their final voyage or voyages of the year.

See attached for more details.

Glen G. Nekvasil

Vice President-Corporate Communications

Lake Carriers' Association

Suite 720

20325 Center Ridge Road

Rocky River, OH 44116

P: 440-333-9996

F: 440-333-9993

C: 216-702-6360

E: nekvasil@lcaships.com

This email and any attached files are confidential and intended solely for the intended recipient(s). If you are not the named recipient you should not read, distribute, copy or alter this email. Any views or opinions expressed in this email are those of the author and do not represent those of the Lake Carriers' Association. Warning: Although precautions have been taken to make sure no viruses are present in this email, the company cannot accept responsibility for any loss or damage that arise from the use of this email or attachments.