Iron ore cargos increase on the US Great Lakes while coal continues to slip

Monday, 13 Feb 2012

The Lake Carriers' Association announced that drybulk cargo shipments totaled 3.9 million tons in January, an increase of 14% compared to January 2011 and 41% ahead of the month's five year average.

Iron ore cargos for the steel industry increased 21% compared to a year ago and outperformed their five year average by 58%. Shipments of iron ore on the Great Lakes totaled 3,587,016 net tons in January, an increase of 24% over January 2011 and 57% ahead of the month's five year average.

However, coal loadings slipped by 53% compared to January 2011, and slightly less 45% compared to the trade's five year average. Shipments of coal on the Great Lakes totaled 382,312 net tons in January, a decrease of 49% compared to January 2011 and decreased by 62% on the month's five year average.

Limestone cargos, on the other hand only had one cargo moved during the month of January due to low temperatures which make rinsing the limestone difficult.

(sourced from steelorbis.com)