GLIN==> FW: Recession Trim 2009 U.S.-Flag Lakes Cargos Almost 35 Percent

The recession that engulfed the U.S. economy in 2009 significantly
slowed the pace of U.S.-Flag shipping on the Great Lakes.  The major
U.S.-Flag carriers hauled 66.5 million tons of dry-bulk cargo in 2009, a
decrease of 34.2 percent compared to 2008.  The decline was even greater
when compared to the industry's 5-year average: 37.8 percent.

 

The largest drop off came in iron ore cargos for the steel industry.
The fleet moved only 24 million tons in 2009, a decrease of almost 50
percent compared to 2008.  However, the 2008 total was deflated by the
recession that began in the fall of that year.  In times of booming
demand for steel, such as 1998, the U.S.-Flag Lakes fleet hauled 63.5
million tons of iron ore.  Compared to that year, the 2009 float was
down more than 60 percent.

 

Coal cargos were down 17 percent compared to a year ago.  In addition to
the weak economy that lowered demand for electricity from industrial
users, the coal trade was impacted by a generally cool summer and fewer
exports to Canada.  In 2009, U.S.-Flag lakers delivered 1.2 million tons
of coal to Canadian customers.  Just a few years ago - 2005 - coal
exports to Canada in U.S. bottoms approached 5 million tons.

 

The 28-percent decrease in limestone cargos primarily reflects the
struggles of the construction industry, but also reduced demand for
fluxstone from the steel industry.

 

Two commodities actually registered tiny increases in 2009.  The salt
trade was up by 36,000 tons and grain cargos increased by 57,000 tons.
Nonetheless, demand was so shaken by the recession that seven U.S.-Flag
lakers never operated in 2009.

 

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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