Seaway shipping traffic up despite falling US steel production

A ship sails upriver through the Iroquois Locks on the St. Lawrence Seaway in May 2022. (The Leader/Blancher photo)

CORNWALL – Traffic on the St. Lawrence Seaway is slightly up in the first-third of the 2024 shipping season. A 24.5 per cent increase in general cargo, and increases in bulk shipping has made up for losses in iron and coal shipments.

“The Seaway continues to demonstrate resilience,” said Jim Athanasiou, president and CEO of the St. Lawrence Seaway Management Corporation. Athanasiou replaced Terence Bowles as the head of the company earlier this year.

“This consistent performance underscores the vital role the Seaway plays in North America’s supply chain, supporting economic growth and environmental sustainability.”

Iron ore and coal traffic on the Seaway are down 16.4 and 17 per cent respectively this year. This continues a decline in tonnage shipped through the waterway from 2023. Overall steel production in the United States is down 2.5 per cent in the past year according to the World Steel Association.

Making up for the losses on the Seaway are dry and liquid bulk shipments. Dry bulk is up 5.7 per cent as of the end of June, while liquid bulk shipments have increased by 8.26 per cent. Combined, bulk shipments and general cargo shipments as have increased by over 532K metric tonnes – netting an increase of 23K m/t over the losses from iron and coal.

Grain shipments are also up from this time last year, by 36K m/t or 1.1 per cent. More than 3.3 million m/t of grain has moved since the shipping season opened in March.

Over 12.2 million metric tonnes of cargo moved through the Seaway to the end of June. The number of ships to sail through has also increased from this time last year, up 2.1 per cent to 1,320 through to June 30.

“Our commitment to our customers and to maintaining a reliable and efficient system, ensures that we can meet the needs of our customers and stakeholders now and in the future,” said Athanasiou.

In 2023, the SLSMC reported a 3.4 per cent increase in tonnage at 37.6 million metric tonnes, with a 1.9 per cent decline in the number of ships to use the international waterway.