Trade News > Maritime News > Recession Puts Freeze On Lakes Season

Recession Puts Freeze On Lakes Season

Thomas L. Gallagher | Mar 4, 2009 5:14PM GMT
The Journal of Commerce Online - News Story
Less iron ore production means lighter shipping season

Less iron ore production due to the recession is likely to delay the start of the 2009-10 shipping season on the Great Lakes.

The season officially begins on Lake Superior when the Soo Locks open March 25. However, no vessels are on the shipping schedule yet for the ore dock in the Upper Harbor of Marquette, Mich., a key shipping point.

Cliffs Natural Resources, which owns the dock, projects production this year to be approximately 50 percent of 2008 production, due to lower market demand.

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