The St. Lawrence Seaway transported 514,000 tonnes of grain out of the Great Lakes between March 22 to the end of July this year. This represents a 37% increase from the same period last year.
“As the season progresses, the Great Lakes-St. Lawrence Seaway System continues to provide shippers a reliable route for a diverse range of commodities flowing in and out of the US heartland,” said Craig H. Middlebrook, deputy administrator for the Great Lakes St. Lawrence Seaway Development. “Cargo numbers continue to improve thanks to the port workers and seafarers who are keeping essential products like grain and steel moving efficiently through the Seaway’s maritime supply chain.”
The Great Lakes Seaway Partnership’s August report shows that the surge in US grain shipments will help alleviate global food concerns in the wake of the Ukraine war. A minimum of 27 nations have received US Great Lakes grain during the month of July, up from 26 in June.
“We are also seeing some new grain products and bulk materials in our mix this season,” said Joseph Cappel, VP of Business Development for the Toledo-Lucas County Port Authority. “Our strategy of obtaining equipment and constructing facilities that have multiple purposes has worked to our advantage. We can handle just about any type of cargo.”
Ports on the Great Lakes are also increasing investments in facilities and equipment. This is due to a surge in grain exports, road congestion, increasing energy prices, and a supply chain crisis.
“We’re seeing the results of a surge in maritime business that once was the hallmark of Oswego. Our continuing investments of over $26 million include upgrades to our facilities to make the port once again a leader on the lakes,” said William W. Scriber, executive director of the Port of Oswego. “We’re particularly proud that our revenue not only supports our operations but also supports local jobs and businesses without relying on tax dollars.”
What Is The St. Lawrence Seaway?
Image via The Great Lakes Seaway Partnership
The St. Lawrence Seaway is a system of locks, canals, and channels in Canada and the United States that permits oceangoing vessels to travel from the Atlantic Ocean to the Great Lakes of North America. The Seaway is named for the Saint Lawrence River, which flows from Lake Ontario to the Atlantic Ocean. It is estimated that more than 160 million metric tons of commercial cargo are transported on the waterway each year.
The Great Lakes-Seaway System serves a region that includes eight U.S. states and two Canadian provinces. If the region were a country, it would have the 3rd largest economy in the world with a GDP of $5.5 trillion – larger than that of Japan, Germany, Brazil, or the United Kingdom. The region is home to 107 million people and accounts for almost 40 percent of the total cross-border trade between the U.S. and Canada.
by Paul Michael Gilmour (University of Portsmouth) A significant element of the UK government’s levelling up plan to create thousands of jobs, regenerate more deprived areas and attract overseas investors...
by Giulia Morpurgo (Bloomberg) Investors anxious over billionaire Gautam Adani’s business empire have sent some of his companies’ bond yields above 10%, a milestone typically reserved for junk-rated debt. Adani...
By P R Sanjai (Bloomberg) — The Adani Group pledged more shares of its ports arm to lenders, reflecting the growing spotlight on the conglomerate’s liquidity amid a short seller attack...
January 31, 2023
Total Views: 641
Sign Up Now for gCaptain Daily
Just enter your email and get hot news every morning
SIGN UP
Get the latest gCaptain articles and breaking news
Sign up for gCaptain Daily
Get the latest gCaptain articles and breaking news
We use cookies on our website to give you the most relevant experience. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
{"Tags":["food shipping crisis","great lakes"],"Categories":["Ports"],"Excerpt":"The St. Lawrence Seaway transported 514,000 tonnes of grain out of the Great Lakes between March 22 to the end of July this year. This represents a 37% increase from..."}