Iron ore shipments on the Great Lakes totaled 5.4 million tons in June, a decrease of 5.4 percent compared to the same month in 2023. Despite this decline, the shipments were 8 percent above the month’s five-year average, indicating a resilient trade environment.
Year-to-Date Performance
Year-to-date, the iron ore trade stands at 19.8 million tons, closely mirroring the previous year’s total. Iron shipments are 8.1 percent above their five-year average for the first half of the year, demonstrating a stable and robust performance in the sector.
Since 1880, the Lake Carriers’ Association has represented the U.S.-flag Great Lakes fleet, which today can move more than 90 million tons of cargo annually. These shipments are fundamental to American industry, infrastructure, and power, encompassing iron ore, stone, coal, cement, and other dry bulk materials such as grain, salt, and sand.
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Detailed Shipment Data by Port
The shipment data for June 2019-2024 provides a comprehensive view of the trends across various ports:
June Shipments (2019-2024):
- Duluth, MN: Shipments in June 2024 remained steady at 1.12 million tons, slightly above the five-year average of 932,017 tons.
- Superior, WI: The port decreased to 1.21 million tons in June 2024, yet it was close to the five-year average of 1.18 million tons.
- Two Harbors, MN: This port experienced a significant decline to 1.54 million tons, down from 1.84 million tons in 2023.
- Silver Bay, MN: Shipments rebounded to 430,117 tons, surpassing the five-year average of 408,373 tons.
- Marquette, MI: Increased shipments to 802,822 tons, well above the five-year average of 619,664 tons.
- Cleveland, OH: The port saw a slight decrease to 323,542 tons, yet it remained higher than the five-year average of 239,350 tons.
- Ashtabula, OH: No shipments were recorded since 2021.
The total shipments for these ports in June 2024 were 5.44 million tons, slightly below the five-year average of 5.03 million tons.
Year-to-Date Shipments (2019-2024):
- Duluth, MN: Year-to-date shipments reached 3.43 million tons in 2024, above the five-year average of 3.05 million tons.
- Superior, WI: Stood at 3.98 million tons, close to the five-year average of 4.15 million tons.
- Two Harbors, MN: Recorded 5.89 million tons, slightly below the five-year average of 6.01 million tons.
- Silver Bay, MN: Significant increase to 2.04 million tons, well above the five-year average of 1.34 million tons.
- Marquette, MI: Noted a rise to 2.74 million tons, surpassing the five-year average of 2.35 million tons.
- Cleveland, OH: Shipments reached 1.76 million tons, well above the five-year average of 1.24 million tons.
- Ashtabula, OH: No shipments were recorded since 2021.
The total year-to-date shipments for these ports in 2024 were 19.84 million tons, nearly matching the previous year’s total and above the five-year average of 18.35 million tons.
Industry Impact
The U.S.-flag Great Lakes fleet, under the representation of the Lake Carriers’ Association, continues to play a pivotal role in the American industrial landscape. Transporting over 90 million tons of cargo annually is vital for maintaining the country’s infrastructure and industrial operations.
While there was a slight decline in June shipments compared to last year, the overall performance of the Great Lakes iron ore trade remains strong, consistently exceeding five-year averages. This resilience underscores the importance of the Great Lakes fleet in supporting the U.S. economy.
