Great Lakes Coal Trade Down in October
Shipments of coal on the Great Lakes totaled 3 million net tons in October, a decrease of nearly 11 percent compared to September, and a drop of 9.6 percent compared to a year ago. The trade slumped even more – 20.7 percent – when compared to the 5-year average for October.
Loadings at Lake Superior ports fell to 1.5 million tons, a decrease of 21.6 percent compared to a year ago. Shipments from Lake Michigan terminals rose 40 percent for the second straight month. Loadings at Lake Erie docks were essentially on par with a year ago.
Year-to-date, the coal trade stands at 22.1 million tons, a decrease of 14.1 percent compared to a year ago, and even more, 25.4 percent, when compared to the 5-year average for the January-October 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.