GLIN==> July Brings Uptick in Lakes Ore Trade

Even though iron ore shipments on the Great Lakes in July were 53
percent below a year ago, the trade did show some signs of life.
Loadings totaled 3.5 million net tons, an increase of 635,000 tons
compared to June.  The uptick in shipments reflects a slight increase in
production rates at steel mills.  The capacity utilization rate at mills
had been mired around 45 percent, but has risen to about 52 percent.

 

For the year, the Lakes iron ore trade stands at 12.8 million tons, a
decrease of 60 percent compared to a year ago.  The decrease is slightly
less - 58 percent - when compared to the trade's 5-year average for the
January-July timeframe.

 

Higher water levels did not totally erase the negative impacts of the
dredging crisis, but did hint at what vessels could accomplish if the
U.S. Army Corps of Engineers adequately dredged the Great Lakes
Navigation System.  On July 31, a 1,000-foot-long U.S.-Flag laker loaded
68,363 tons of iron ore, the largest cargo of the season.  Nonetheless,
the record for an iron ore cargo that transits the Soo Locks is 72,117
tons, so even the year's top cargo represents only 95 percent of what
vessels were able to carry in 1997, a year of very high water levels.

 

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 at lcaships.com <mailto:nekvasil at lcaships.com> 

 




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