Great Lakes Iron Ore Trade Up 13 PCT in October

Iron ore shipments on the Great Lakes totaled 5.7 million tons in October, a decrease of 11 percent from September, but an increase of 13 percent compared to a year ago.

 

October loadings also were up 7.2 percent compared to the month’s 5-year average. Shipments from U.S. ports totaled 5.1 million tons, an increase of 18 percent compared to a year ago.  However, loadings at Canadian ports slipped 16.3 percent from a year ago. Through October the iron ore trade stands at 48.8 million tons, an increase of nearly 11 percent compared to both a year ago and the 5-year average for the January-October timeframe. Shipments from U.S. ports are up 12.4 percent compared to a year ago and 14.6 percent ahead of their 5-year average.  Loadings at Canadian ports are basically tied with last year, but 14.7 percent below the 5-year average for the January-September timeframe. Lake Carriers’ Association represents 17 American companies that operate 55 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....  Collectively, these vessels can transport more than 115 million tons of cargo per year when high water offsets lack of adequate dredging.  Those cargos support more than 103,000 jobs, each with an average wage of $47,000.  More information is available at www.lcaships.com.
 

Read more from original source

logos