Seaway Traffic Posts Weak Start to 2008
May 28, 08 by TheFleetIf you're new here, you may want to subscribe to our RSS feed. Thanks for visiting!
Source: Seaway Channel
Traffic on the Great Lakes/St. Lawrence Seaway System got off to a rough start as the slowing North American economy and the strong euro took their toll on Seaway tonnage figures through the end of April.
Combined overall tonnage as of April 30, 2008 was down by 14.6 percent compared to last year at the same time.
The only bright spots in the tonnage picture were in iron ore and coal, both of which posted modest gains compared to the April 2007 numbers.
Until industrial production figures in the United States and Canada start to rebound, particularly in the automobile and construction sectors, Seaway traffic is likely to suffer. Additionally, if U.S. dollar remains weak in comparison to the euro for a protracted period of time, Seaway steel import cargos from Europe will be few and far between.
Read the full story, view tonnage chart at the Seaway Channel >>
