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<!--Generated by Squarespace Site Server v5.11.81 (http://www.squarespace.com/) on Tue, 14 Feb 2012 05:42:28 GMT--><feed xmlns="http://www.w3.org/2005/Atom" xmlns:dc="http://purl.org/dc/elements/1.1/"><title>Great Lakes and Saint Lawrence Seaway News</title><subtitle>Great Lakes and Saint Lawrence Seaway News</subtitle><id>http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/</id><link rel="alternate" type="application/xhtml+xml" href="http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/"/><link rel="self" type="application/atom+xml" href="http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/atom.xml"/><updated>2012-02-13T15:53:27Z</updated><generator uri="http://www.squarespace.com/" version="Squarespace Site Server v5.11.81 (http://www.squarespace.com/)">Squarespace</generator><entry><title>This Week's Poll Question</title><id>http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/13/this-weeks-poll-question.html</id><link rel="alternate" type="text/html" href="http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/13/this-weeks-poll-question.html"/><author><name>The Editors</name></author><published>2012-02-13T15:52:49Z</published><updated>2012-02-13T15:52:49Z</updated><content type="html" xml:lang="en-US"><![CDATA[<script language="JavaScript" src="http://www.websitetoolbox.com/cgi/view/poll.cgi?username=aaron49erz&id=27895"></script>]]></content></entry><entry><title>Port of Oshawa Earns Canada Port Authority Desigination</title><id>http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/10/port-of-oshawa-earns-canada-port-authority-desigination.html</id><link rel="alternate" type="text/html" href="http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/10/port-of-oshawa-earns-canada-port-authority-desigination.html"/><author><name>The Editors</name></author><published>2012-02-10T19:46:00Z</published><updated>2012-02-10T19:46:00Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p><span class="full-image-float-right ssNonEditable"><span><img src="http://www.greatlakes-seawaynews.com/storage/Oshawa%20announcment?__SQUARESPACE_CACHEVERSION=1328975957829" alt="" /></span></span>Earlier today at a ceremony at the Port of Oshawa the Honourable Jim Flaherty, Minister of Finance, Dr. Colin Carrie, Parliamentary Secretary to the Minister of Health and Member of Parliament for Oshawa were on hand to announced the creation of a Canada Port Authority (CPA) to operate the Port of Oshawa.</p>
<p>"Our government recognizes the significant role the Port of Oshawa plays in the local economy," said Minister Flaherty. "The creation of a Port Authority in Oshawa provides the certainty for businesses to plan and invest in our port, which will create jobs and long-term economic growth. This is a great day for the future of Oshawa and Durham Region."</p>
<p>"Oshawa is one of the few cities that can boast an airport, rail lines, an open water port and 400-series highways, making Oshawa and the region a great place to invest," said Colin Carrie, MP, "It's wonderful for the future of Oshawa and our region."</p>
<p>Prior to the designation as a Canada Port Authority &nbsp;the Port of Oshawa had been a harbor commission, the only remaining harbour commission in Canada.&nbsp; Oshawa's strategic location at the eastern edge of the Greater Toronto Area serves a range of industries that are dependent on reliable, cost-effective marine transportation. The transition to CPA status will allow the port to more fully pursue commercial opportunities, while taking into account input from port users and other stakeholders such as the local community.</p>
<p>"This announcement is the culmination of the dedication, vision and hard work of many people, and marks a milestone in the life of the port by providing our current and prospective port users with the certainty needed for continued growth and investment," said Gary Valcour, chairman of the board of directors of the Oshawa Harbour Commission. "By honouring its promise to create a Port Authority in Oshawa, the government is recognizing the important role ports play in Canada's economy and that of Durham Region."</p>
<p>The creation of a <abbr title="Canada Port Authority">CPA</abbr> is consistent with the objectives of the Government of Canada's National Marine Policy, which seeks to improve the efficiency of Canadian marine transportation by managing Canada's major marine infrastructure in a commercial manner.&nbsp; <abbr title="Canada Port Authority">CPA</abbr>s operate at arm's length from the federal government and are directed by an independent board of directors. This model makes Canada's major ports commercially efficient, allowing them to remain competitive in the global economy.</p>
<p>The transition of the port to a <abbr title="Canada Port Authority">CPA</abbr> is the latest in a series of government actions to support an efficient, competitive national ports system.</p>]]></content></entry><entry><title>Nonpartisanship is the "Key"</title><id>http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/9/nonpartisanship-is-the-key.html</id><link rel="alternate" type="text/html" href="http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/9/nonpartisanship-is-the-key.html"/><author><name>The Editors</name></author><published>2012-02-09T15:15:55Z</published><updated>2012-02-09T15:15:55Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p><span class="full-image-float-right ssNonEditable"><span><img src="http://www.greatlakes-seawaynews.com/storage/Slsdc%20logo.jpg?__SQUARESPACE_CACHEVERSION=1328800984126" alt="" /></span></span>Yesterday&rsquo;s edition of <strong>Great Lakes-Seaway News</strong> had to take an old media publication to task for publishing a rather sticky, but fishy valentine to the <em>SS Badger</em>.&nbsp; By contrast, today we get to congratulate another member of the Great Lakes-Seaway journalistic fraternity,&nbsp;the<strong> Watertown (New York) Daily Times </strong>(WDT), for being the first printing press publication to catch up to an interesting story we published back in our December 7, 2011 edition.&nbsp;</p>
<p>In that day&rsquo;s edition of <strong>Great Lakes-Seaway News</strong> ran an interview we conducted with Saint Lawrence Seaway Development Corporation (SLSDC) Administrator Terry Johnson.&nbsp; In that interview we pressed Johnson about the non-partisan nature of the job of SLSDC Administrator and the fact that he, like at least two of his recent predecessors in that position, was serving in the administration of a president from the opposite political party of the president who originally appointed him.</p>
<p>Johnson responded with refreshing candor. &nbsp;Rather than sugar-coating the rather partisan behavior of political appointees at the U.S. Department of Transportation (DOT) that he clearly feels is undermining the non-partisan nature of the SLSDC administrator&rsquo;s job, Johnson revealed some of the high school-style hi-jinks that DOT had slipped into while trying to prod Mr. Johnson to &ldquo;go quietly&rdquo; including locking him out of his own office.</p>
<p>On Tuesday of this week the <strong>Watertown Daily Times&rsquo;</strong> veteran Washington correspondent, Marc Heller, who has been covering the Great Lakes-Seaway maritime industry and U.S. DOT for the better part of two decades, followed-up on our December 7 interview with Johnson and probed deeper into the issue at hand.&nbsp; Heller was also kind and professional enough to credit <strong>Great Lakes-Seaway News</strong> for breaking the story.</p>
<p>The <strong>WDT </strong>piece extracted a comment from a DOT public affairs spokeswoman Meghan Keck, who, in a statement quoted by Heller, says, &ldquo;As an agency led by a Republican under a Democratic administration, the Department of Transportation is fully committed to the importance of bipartisan cooperation at all levels.&rdquo;</p>
<p><span class="full-image-float-left ssNonEditable"><span><img src="http://www.greatlakes-seawaynews.com/storage/dot-logo.jpg?__SQUARESPACE_CACHEVERSION=1328801250730" alt="" /></span></span>Keck, presumably speaking for the administration, says they are committed to &ldquo;bipartisan cooperation&rdquo;.&nbsp; Johnson wants tp run the SLSDC in a non-partisan fashion and it is universally agreed in the industry that he does.&nbsp; One might hope Keck actually means &ldquo;non-partisan cooperation&rdquo; rather than &ldquo;bipartisan cooperation&rdquo; since the latter implies some deal-making between two political parties rather than a business-like, scientifically-based, results-oriented, non-partisan approach to running the SLSDC. &nbsp;Non-partisan operations might ensure that the agency is run in a way that maximizes the safe, reliable, efficient and environment-friendly operation of the international waterway.</p>
<p>This is no time to politicize the operations of the Great Lakes-St. Lawrence Seaway System.&nbsp; There are bigger questions to worry about now, such as, &ldquo;How do we protect the tens of thousands of jobs related to Great Lakes-Seaway commerce?&rdquo;, and, &ldquo;How do we improve the Seaway&rsquo;s competitiveness to create more jobs and greater economic opportunities going forward?&rdquo;</p>
<p>Let&rsquo;s focus on these important questions and put aside the small-minded, petty arguments of the past.&nbsp; And by the way, can Terry Johnson have the key to his office now?</p>]]></content></entry><entry><title>Fishy Valentines, Red Herrings and the SS Badger</title><id>http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/8/fishy-valentines-red-herrings-and-the-ss-badger.html</id><link rel="alternate" type="text/html" href="http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/8/fishy-valentines-red-herrings-and-the-ss-badger.html"/><author><name>The Editors</name></author><published>2012-02-08T16:50:19Z</published><updated>2012-02-08T16:50:19Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p><span class="full-image-float-right ssNonEditable"><span><img src="http://www.greatlakes-seawaynews.com/storage/Badger.jpg?__SQUARESPACE_CACHEVERSION=1328720368131" alt="" /></span></span>Here at <strong>Great Lakes-Seaway News</strong> we often encourage our brethren in the old media (print newspapers, magazines, journals, etc.) to catch up to stories that the new media can uncover, research, write, fact check, edit and publish in a fraction of the time that it takes our friends who rely on the printing press.&nbsp; Sometimes this encouragement even takes on the form of gentle chiding to encourage those organizations to achieve higher levels of accuracy, alacrity and agility.</p>
<p>On rare occasions, however, it becomes necessary to point out a publication&rsquo;s more obvious shortcomings so that other journals can avoid the pitfalls into which the unfortunate have fallen.&nbsp; Rarer still are the circumstances that demand that we point out a piece of writing so bone-headed as to make us wince for the writers and editors.&nbsp; So it is, sadly, with the <strong>Ludington</strong> (Michigan)<strong> Daily News</strong>.</p>
<p>We call to your attention an editorial column entitled, &ldquo;It&rsquo;s our town, &lsquo;our&rsquo; carferry, we love them both&rdquo;, published in that newspaper&rsquo;s Monday, February 6, 2012 edition.&nbsp; This misguided, sticky and somewhat fishy valentine is, of course, directed at Ludington, MI and more specifically at the coal-burning and coal ash-dumping <em>SS Badger </em>carferry owned and operated by the privately-held company Lake Michigan Carferry LLC.</p>
<p><span class="abody">Having now assumed the role of principle apologists for the <em>SS Badger,</em> the editors of the <strong>Ludington Daily News</strong>(LDN) write:</span></p>
<p><span class="abody">&ldquo;To the degree coal ash is a pollutant; that can&rsquo;t be argued. But we&rsquo;ve long said what&rsquo;s lost by critics of the Badger is the understanding of scale. The Badger&rsquo;s coal ash is not harming the lake in a major way.&rdquo;</span></p>
<p><span class="abody">A couple of points here: &nbsp;1) At least the <strong>LDN</strong> seems to concede that the coal ash, including the toxic mercury, arsenic, lead and selenium contained in the coal ash, is a pollutant.&nbsp; Here they seem to have wandered off of the <em>SS Badger&rsquo;s </em>navigation charts because Lake Michigan Carferry LLC seems to still argue that their ship&rsquo;s coal ash is not very harmful at all and; 2) The <strong>LDN </strong>seems to intone that it&rsquo;s all a question of scale by saying, &ldquo;The Badger&rsquo;s coal ash is not harming the lake in a major way.&rdquo;&nbsp; Hmmm, so dumping 3.8 tons of an admitted pollutant into </span><span class="abody">Lake Michigan</span><span class="abody"> every day doesn&rsquo;t constitute polluting &ldquo;in a major way&rdquo;.&nbsp; Reasonable readers might wonder what the <strong>LDN</strong>&rsquo;s idea of polluting &ldquo;in a major way&rdquo; might be.&nbsp; Would more than five tons per day meet their standard? Ten tons? &nbsp;Fifty tons? &nbsp;A Hundred?</span></p>
<p><span class="abody">The <strong>LDN</strong>&rsquo;s little love letter to the <em>SS Badger&rsquo;s</em> owners goes on to say, </span></p>
<p><span class="abody">&ldquo;The scope of the Badger&rsquo;s coal ash discharge as a problem to </span><span class="abody">Lake Michigan</span><span class="abody"> is dwarfed by the real issues that harm </span><span class="abody">Lake Michigan</span><span class="abody"> and communities around the lake, especially in non-industrialized places such as Ludington that receive airborne pollutants transported from the major metropolitan areas such as </span><span class="abody">Chicago</span><span class="abody">, </span><span class="abody">Milwaukee</span><span class="abody"> and </span><span class="abody">Gary</span><span class="abody">.&rdquo;</span></p>
<p><span class="abody">Come on now, really?&nbsp; &nbsp;Even if the <strong>LDN</strong> were acting as the <em>SS Badger&rsquo;s </em>sole mouthpiece, they couldn&rsquo;t believe his ham-handed attempt at misdirection would work. &nbsp;Do they have so little respect for the intelligence of their readers that they think the local citizenry will ignore the polluters who are dumping 3.8 tons of coal ash directly into the region&rsquo;s fresh water supply and instead direct their focus on the air emissions policies of municipalities in other states, the closest of which is more than 90 miles away?</span></p>
<p><span class="abody">What about the air emissions of the hulking coal-burner lurking just inside the town&rsquo;s breakwater?&nbsp; The <em>SS Badger</em> is burning roughly&nbsp;70 tons of coal per day.&nbsp; The Law of Conservation of Mass tells us that matter can be neither created nor destroyed as a result of a chemical reaction such as combustion.&nbsp; The combustion of the coal, which is made up of carbon, hydrogen, oxygen and many toxic trace elements releases those elements while producing heat and light. &nbsp;Chemistry and physics tell us that burning coal produces, among other things, significant quantities of fly ash as well as astounding amounts of carbon monoxide, carbon dioxide and other greenhouse gases when those elements react with the surrounding air.&nbsp; All of which is being pumped into air surrounding Ludington&rsquo;s homes, schools and businesses.</span></p>
<p><span class="abody">There is a reason why the <em>SS Badger</em> is not allowed to dock too close to Ludington&rsquo;s marina.&nbsp; Sail boaters don&rsquo;t particularly like to have their pristine and expensive white sails smudged and fouled by the black smoke billowing out of the <em>SS Badger&rsquo;s</em> stack. [see photo above]</span></p>
<p><span class="abody">The Ludington newspaper goes on to try yet another issue to distract its readers from the coal ash dumping problem when it gratuitously adds, &ldquo;Then there&rsquo;s the matter of the potential for Asian carp to get into the lake, another far more serious issue that needs immediate action.&rdquo;</span></p>
<p><span class="abody">It doesn&rsquo;t take an ichthyologist to know that the number of Asian carp that have been found living in Lake Michigan (zero, so far) is dwarfed by the number of specious &ldquo;red herring&rdquo; arguments being tossed around by Lake Michigan Carferry LLC and their apologists at the Ludington Daily News. </span></p>]]></content></entry><entry><title>No Warm-up for US Steel's Hamilton Blast Furnace</title><id>http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/7/no-warm-up-for-us-steels-hamilton-blast-furnace.html</id><link rel="alternate" type="text/html" href="http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/7/no-warm-up-for-us-steels-hamilton-blast-furnace.html"/><author><name>The Editors</name></author><published>2012-02-07T16:16:00Z</published><updated>2012-02-07T16:16:00Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p><span class="full-image-float-left ssNonEditable"><span><img src="http://www.greatlakes-seawaynews.com/storage/uss_logo_blue1.jpg?__SQUARESPACE_CACHEVERSION=1328631843699" alt="" /></span></span>On Monday, US Steel chairman John Surma told industry analysts that the Pittsburgh, PA-based steelmaker has no plans to restart the blast furnace operations of the former Stelco plant in Hamilton, ON until things change substantially in the North American steel market.&nbsp; The Hamilton plant&rsquo;s blast furnace has been shuttered since October 2010. &nbsp;</p>
<p>Roughly 200 plant workers are expecting layoff notices to come in March or April after the end of the 26 weeks of work they were promised as part of the deal that settled the 11-month lockout of the plant&rsquo;s organized labor force.</p>
<p>&ldquo;We plan on running in the first quarter everything we have except Hamilton about as hard as we can,&rdquo; Surma told analysts, cautioning that he would have to see a strong rebound in the North American steel market to justify the cost of bringing the Hamilton facility back on line.</p>
<p>While the Hamilton blast furnace remains idle, many of the company&rsquo;s other production facilities are operating near full capacity.&nbsp; US Steel&rsquo;s coke ovens, cold mill and coating operations are going full-tilt to serve steelmaking plants in the United States. &nbsp;The firm says that it is operating at roughly 85 per cent of capacity in North America and at about 90 per cent of its capacity in the U.S. specifically. &nbsp;</p>
<p>One industry analyst with knowledge of US Steel's North American operations said, &ldquo;It all gets back to the idea that, without a hot mill, Hamilton can only make steel slabs and the company can&rsquo;t make use of any more slabs unless there&rsquo;s a really good market,&rdquo; he said. &ldquo;If the company is operating at 90 per cent, then it doesn&rsquo;t need any more slabs and that&rsquo;s the whole problem with that mill.&rdquo;</p>]]></content></entry><entry><title>This Week's Poll Question</title><id>http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/6/this-weeks-poll-question.html</id><link rel="alternate" type="text/html" href="http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/6/this-weeks-poll-question.html"/><author><name>The Editors</name></author><published>2012-02-06T14:12:38Z</published><updated>2012-02-06T14:12:38Z</updated><content type="html" xml:lang="en-US"><![CDATA[<script language="JavaScript" src="http://www.websitetoolbox.com/cgi/view/poll.cgi?username=aaron49erz&id=27803"></script>]]></content></entry><entry><title>Port of Cleveland Posts Impressive Cargo Tonnage Growth for 2011</title><id>http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/3/port-of-cleveland-posts-impressive-cargo-tonnage-growth-for.html</id><link rel="alternate" type="text/html" href="http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/3/port-of-cleveland-posts-impressive-cargo-tonnage-growth-for.html"/><author><name>The Editors</name></author><published>2012-02-04T01:26:11Z</published><updated>2012-02-04T01:26:11Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p><span class="full-image-float-right ssNonEditable"><span><img src="http://www.greatlakes-seawaynews.com/storage/Port%20of%20Cleveland.jpg?__SQUARESPACE_CACHEVERSION=1328319191815" alt="" /></span></span>The Cleveland-Cuyahoga County Port Authority reported that overall cargo tonnage increased 31 percent in 2011, largely the result of growth in steel, iron-ore and oversized &ldquo;project&rdquo; cargo handled by Port facilities.</p>
<p>The Port handled 3.4 million tons of cargo last year &ndash; the highest volume since 2008. General cargo volume rose 16 percent as both steel and project cargo posted increases; while bulk cargo increased 33 percent, as more iron ore was handled by Port operations.</p>
<p>&ldquo;Trade through our port showed strong growth in 2011, which is another indicator of an economic rebound underway in our region,&rdquo; said Port CEO Will Friedman. &ldquo;With this momentum we are working harder than ever to develop better waterborne freight connections with global markets to help Ohio firms compete for and win business, and ultimately create new jobs.&rdquo;</p>
<p>Overall tonnage transiting the St. Lawrence Seaway increased 2.5 percent in 2011.</p>
<p>Recntly&nbsp;the Port Authority&rsquo;s Board of Directors agreed to enter into a contract for nearly $3.9 million to construct an on-dock rail loop that will make the Port more competitive.</p>
<p>The Port selected Great Lakes Construction Company, a Cleveland-based company to build the 5,500 feet of additional track. The project is slated to be completed before the end of October, and was made possible by an Ohio Department of Development Logistics and Distribution Stimulus Loan of $3,025,000. The Port will fund the remainder of the project from its capital budget.</p>
<p>&ldquo;We are excited to move forward with the rail expansion, which exemplifies the strategic investments the Port is making to grow its maritime operations and spur more economic activity in Greater Cleveland,&rdquo; said Board Chair Bob Smith. &ldquo;We are also grateful to the Ohio Department of Development for its vital role in turning this project into reality.&rdquo;</p>
<p>The rail loop will connect existing on-dock tracks, giving the two Class 1 railroads serving the Port access to the entire general cargo facility and providing enhanced opportunities for rail-to-ship and ship-to-rail cargo handling. This expanded rail service will give local companies more efficient and cost-effective shipping options, and better position the port to handle more railcars at one time, increase exports, and reach customers in a broader geographic area.</p>
<p>Cleveland Commercial Railroad Company, LLC will manage the scheduling and operations of the Port&rsquo;s expanded rail system, and market it to area companies.</p>]]></content></entry><entry><title>SLSMC Names New Board Member</title><id>http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/2/slsmc-names-new-board-member.html</id><link rel="alternate" type="text/html" href="http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/2/slsmc-names-new-board-member.html"/><author><name>The Editors</name></author><published>2012-02-02T14:07:50Z</published><updated>2012-02-02T14:07:50Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p><span class="full-image-float-right ssNonEditable"><span><img src="http://www.greatlakes-seawaynews.com/storage/slsmc%20logo.gif?__SQUARESPACE_CACHEVERSION=1328192076663" alt="" /></span></span>Yesterday, the Canadian St. Lawrence Seaway Management Corporation (SLSMC), the entity charged with operating and maintaining the Canadian sections of the St. Lawrence Seaway, announced the appointment of Mr. James (Jim) Wilson to its Board of Directors for a three-year term beginning January 27, 2012, as the representative for the steel and iron ore industries.</p>
<p>Mr. Wilson currently serves as General Manager, Raw Materials, for ArcelorMittal Dofasco Inc. and has over 40 years&rsquo; experience within the iron ore and steel industries, spanning roles in research, production, and purchasing. A graduate of McMaster University, his career encompasses a diverse range of progressively more senior assignments.&nbsp; He has served as a Director and President of Wabush Resources Inc. and as a Director for both the Arnaud Railway and the Wabush Lake Railway.&nbsp; Mr. Wilson is also a past Director of Quebec Cartier Mines (which became ArcelorMittal Mines Canada).</p>
<p>Terence Bowles, President and CEO of the SLSMC, welcomed the appointment of Mr. Wilson.&nbsp; &ldquo;The iron ore and steel industries are vital to the Seaway&rsquo;s sustainability, and collectively account for a third of our total cargo volume&rdquo; said Mr. Bowles.&nbsp; &ldquo;Mr. Wilson&rsquo;s experience within these industries will prove to be invaluable as he lends insight to the SLSMC&rsquo;s Board.&nbsp; The next three years will be pivotal to the SLSMC&rsquo;s continued development as a vital transportation artery, and Jim Wilson is a welcome addition to our Board&rdquo;.</p>]]></content></entry><entry><title>Baltic Dry Index Hits a New All-time Low</title><id>http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/1/baltic-dry-index-hits-a-new-all-time-low.html</id><link rel="alternate" type="text/html" href="http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/2/1/baltic-dry-index-hits-a-new-all-time-low.html"/><author><name>The Editors</name></author><published>2012-02-01T14:52:00Z</published><updated>2012-02-01T14:52:00Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p><span class="full-image-float-left ssNonEditable"><span><img src="http://www.greatlakes-seawaynews.com/storage/BDI%202-1-12.jpg?__SQUARESPACE_CACHEVERSION=1328110969987" alt="" /></span></span>Today the Baltic Dry Index (BDI), an important index measuring the price of worldwide dry-bulk ocean vessel freight movements, hit an all-time low closing at 662.&nbsp; The BDI has suffered a relentless and sharp decline since mid-December.&nbsp; On December 14, the BDI closed at 1912.&nbsp; Since that day, the index has dropped 1250 points or just over 65 percent in the span of six weeks.</p>
<p>The previous all-time low of 663 was set during the global financial crisis of 2008-2009 which set off a widespread international recession, the effects of which are still being felt in many nations today.</p>
<p>The sudden and steep drop in the BDI, which surveys freight rates involving 26 significant sample cargo dry-bulk ocean vessel cargo movements sea routes is setting off alarm bells in many of the world&rsquo;s financial markets.&nbsp; Sizeable retreats by the BDI are like a spawning salmon-run for &ldquo;bearish&rdquo; market forecasters since the price of moving dry-bulk raw materials generally goes up when the world economy is expanding, and down when economic activity is slowing.</p>
<p>Nick Bullman, managing partner at risk consultant Check Risks recently told the Dow Jones website <strong>Financial News</strong>. &nbsp;"This collapse looks similar to the falls we saw in the Baltic Dry ahead of the recessions of the late 1970s and early 1990s -- but this drop is actually steeper,"</p>
<p>One freight market observer put it more colorfully. Matthew Addington, a Johannesburg, South Africa-based dry cargo shipbroker for global shipping concern Clarksons PLC told the <strong>International Business Times</strong>, "The market has gone for a complete ball of s**t."</p>
<p><strong>Great Lakes Seaway News</strong>, which has been following the most recent dry-bulk fright market drop-off very closely for the past month, has reported that much of the reason for the pronounced decline in the BDI relates to supply and demand considerations and expectations in the dry-bulk freight market.&nbsp; A tremendous number of newly-built dry-bulk ships have been added to the fleet in recent weeks, ship demolitions are nowhere near keeping pace with the new tonnage being delivered and freight demand, particularly for iron ore has been off. &nbsp;</p>
<p>Additionally, because of the way ship values are calulated, many shipowners held back on using just-delivered vessels during the last quarter of 2011, only to let a huge number set maiden voyages during the first few days of 2012.</p>
<p>More analysts also cite a change in the pricing mechanism for iron ore that enticed steel mills to receive as much ore as they could before year end, creating a slow period in early 2012.</p>
<p>Add in the fact that most macro-economic forecasters are issuing warnings about a significant slowdown in economic growth for 2012 and you have almost a &ldquo;perfect storm&rdquo; through which most dry-bulk shipowners will have to sail for much of 2012 at least.</p>]]></content></entry><entry><title>IJC Holds Webinars on Lake Ontario-St. Lawrence River Management Plan</title><id>http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/1/31/ijc-holds-webinars-on-lake-ontario-st-lawrence-river-managem.html</id><link rel="alternate" type="text/html" href="http://www.greatlakes-seawaynews.com/great-lakes-and-saint-lawrence/2012/1/31/ijc-holds-webinars-on-lake-ontario-st-lawrence-river-managem.html"/><author><name>The Editors</name></author><published>2012-01-31T14:15:20Z</published><updated>2012-01-31T14:15:20Z</updated><content type="html" xml:lang="en-US"><![CDATA[<p><span class="full-image-float-right ssNonEditable"><span><img src="http://www.greatlakes-seawaynews.com/storage/IJC%20logo.gif?__SQUARESPACE_CACHEVERSION=1328019879866" alt="" /></span></span>Yesterday, the International Joint Commission (IJC), the binational body charged with overseeing the Boundary Waters Treaty of 1909 between Canada and the United States, released information about its new approach to managing the water levels and flows in the Lake Ontario and the St. Lawrence River. Details of the new approach are available at <a href="http://www.ijc.org/loslr">www.ijc.org/loslr</a><span style="color: #1f497d;">.</span> The IJC will hold four webinars on today, January 31, and tomorrow, February 1, to provide a brief overview of the new approach and features on the website dedicated to that topic:</p>
<p><a href="http://www.ijc.org/loslr/en/events/January%2031%2010am.pdf">January 31 at 10 a.m. Overview for Public in French</a></p>
<p><a href="http://www.ijc.org/loslr/en/events/LOSLR%20Webex%201.pdf">January 31 at 2 p.m. Overview for Public in English</a></p>
<p><a href="http://www.ijc.org/loslr/en/events/January%2031%207pm.pdf">January 31 at 7 p.m. Overview for Public in French</a></p>
<p><a href="http://www.ijc.org/loslr/en/events/LOSLR%20Webex%202.pdf">February 1 at 7 p.m. Overview for Public in English</a></p>
<p>Building on 50 years of experience, a five-year binational study and extensive public comment, the IJC is developing a new approach with the assistance of a Working Group of representatives from the governments of Canada, the United States, the provinces of Ontario and Quebec, and the State of New York.</p>
<p>The flow of water from Lake Ontario down the St. Lawrence River is regulated by the Moses-Saunders Power Dam in accordance with the IJC's 1956 order of approval. The current regulation plan moderates extreme high and low water levels on Lake Ontario and the St. Lawrence River. However, the current plan was developed during the last century and doesn't take some environmental factors into account, and has no process for adapting to future challenges such as bigger storms and more severe droughts.</p>
<p>While continuing to moderate extreme high and low water levels, the new approach would allow for more natural water levels and flow patterns and it is hoped that this will produce significant environmental improvements.  An Adaptive Management strategy would improve the capability to adapt to future changes, including socio-economic changes and significant weather variations throughout the system.</p>]]></content></entry></feed>
