Seaway reports cargo volumes well ahead of ’09

OTTAWA — Freight volumes on the St. Lawrence Seaway are returning to pre-recession levels, according to the St. Lawrence Seaway Management Corp. (SLSMC).

The Canadian group that co-manages the St. Lawrence Seaway with the U.S.-based Saint Lawrence Seaway Development Corp. has reported that activity related to the steel industry remains buoyant, with shipments of iron ore and steel slabs showing continued strength.

Cargo volumes on the Seaway remain almost 20 percent ahead of the pace set last year, a release from SLSMC says.

Total cargo shipments on the Seaway for the period of March 25-31 amounted to 6,888,000 tonnes as compared to 5,840,000 tonnes for the same period last year.

Marine carriers have transported 33,000 tonnes of steel slabs as of May 31. This figure stands in stark contrast to steel slab activity last year, in which no slabs were observed in transit.

"The steel industry continues to show positive signs of recovery, bringing about a direct impact on Seaway traffic volumes" said Bruce Hodgson, director of market development for the SLSMC. "Iron ore volume is 105 percent above the same period last year, and our steel slab imports into Hamilton have rebounded."

With trade as a share of GDP growing in prominence to account for nearly 30 percent of overall economic activity today, the Great Lakes states and provinces together account for nearly 39 percent of U.S.-Canadian trade with the world.