Great Lakes Shipping Increases

Hopefully water levels will start to rebound again. We are currently well below chart datum and the Corps of Engineers projects this to be the case for the next 6 months. A few years ago freighter were not able to operate as efficiently as possible because full loads resulted in groundings. We are starting to approach those water levels again. Not sure what the snow pack is like in the UP but West Michigan system snow falls are well below average. Hopefully, we will receive a lot more snow and enjoy plenty of rain this spring and the lakes will get back to average levels again.
 
MonacoMike said:
Where do the raw materials go, here or overseas?

MM
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Overseas mostly. Things still are not so good. The BDI (Baltic Dry Index) is at record lows. BDI is used in part to determine charter rates for ships. Most bulk cargos are shipped on a charter basis. Unlike containers that are shipped on a scheduled, or liner, service, bulk cargo shippers go out and charter a vessel to take their cargo from one point to another on a one off basis. So until BDI picks up the charter rates will remain in the cellar.

The good news is the BDI is driven by commodity prices, and as steel production/consumption and food export pick up, the index will begin to rise. While no one likes to see rising prices, it is usually a sign of an improving economy.

Henry
 
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