Iron ore shipments on North America's Great Lakes dropped 42 percent in December 2008 compared to the same month in 2007.
The 3.1 million net tons shipped in December was barely half the size of the five-year average for the month, according to the Ohio-based Lake Carriers’ Association.
Iron ore shipments will also be down in January, with many ships laying up early. Only 26 U.S.-flagged lakers were in service on 1 January, compared to 61 in service on 1 January 2008.
Because of a strong demand for iron ore earlier in the year, 1.1 million more tons of ore were carried in 2008 than in 2007 and shipments outperformed the trade’s five-year average by 400,000 tons.
Source: Duluth News Tribune
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