Posted on 10/26/2010 3:36:20 AM PDT by prisoner6
10/26 - Superior, Wis. - A significant increase in demand for raw materials in the Great Lakes so far this year is being hailed as a strong indicator of a recovering economy.
Increases in grain shipments combined with more demand for iron ore and coal from last year is nudging Great Lakes shipping closer to levels before the recession began two years ago.
St. Lawrence Seaway Development Corporation Administrator Terry Johnson in Washington says overall demand for Great Lakes commodities is up 20 percent from last year. Despite the increase, overall shipping in the Great Lakes is still 10 percent behind its five-year average.
“Last year was a horrible year. It was a horrible economy,” says Johnson. “We often reflect the economy, how it’s going. The economy has improved, we’ve improved. It’s a much happier time than it was last year.”
Adele Yorde with the Duluth Seaway Port Authority says an increase in consumer confidence and drought conditions in Russia are boosting the shipping numbers. Russia is one of the world’s largest exporters of grain and has a ban on exports because of wildfires and drought. With a better than average growing season in the U.S., Yorde says grain shipments are up 89 percent from last year and 15 percent up compared to the five-year average.
“This year, all things lined up well for international shipping for the U.S,” Yorde says. “What happens next year? The climate conditions around the world might have a different picture come 2011.”
Because of the increase in demand for grain, 18 more ocean-going ships have loaded in the Twin Ports from last year. And iron ore shipments in all Great Lakes ports are up 62 percent.
I can’t believe the price of diesel! It used to be cheaper than gasoline becase it - like kero - was a byproduct of the refining process. Now it’s touching 4 bucks a gallon for non-commerical use here. Kero is a little over a buck cheaper. I would be SO tempted! (IF I was driving an older diesel vehicle)
Diesel here runs about $3 a gallon. It has not been below the price of regular gas in years.
Any news that the Iron Range is hiring? How about the iron mines around Marquette, Michigan? If the iron mines start hanging help wanted signs, that would be an economic indicator I can believe.
Isn't that always the problem even in a good economy.
Thanks for the input on the trucking climate.
No jobs - same farmers. It’s just that the crops are going a different direction this year due to drought in Asia and Russian crop problems.
And the Seaway will be closed soon for the winter - this “boom” will be shortlived.
Not via the Great Lakes.
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