Keystone Shipping is taking three Great Lakes bulkers out of service as it tries to cope with the pandemic-related slump.
The US manager of the fleet of shipowner USS Great Lakes Fleet is also laying off 94 workers, including crew members.
The 75,000-dwt Edgar B Speer (built 1980), the 47,000-dwt Roger Blough (built 1982) and the 27,100-dwt Philip R Clarke (built 1952) are the ships being stacked.
"The bottom line is the pandemic," Keystone vice president Mitch Koslow told the Minnesota Star Tribune.
"Three of our vessels are being laid up due to economic conditions."
The jobs will go mainly in Duluth, Minnesota.
Redeployment hope
Some staff could be redeployed on its six other Lakers, which it runs on behalf of USS Great Lakes parent company CN, formerly known as Canadian National Railway.
Others could be brought back before the end of the year if markets improve, the company said.
The moves are being made largely due to a fall in demand for steel from car factories.
"Our biggest customer is US Steel, so it’s based on their plans," Koslow said. "We’ll keep our fingers crossed."
Shipments through Lake Superior’s Port of Duluth-Superior have fallen nearly one-third during the coronavirus crisis, compared to last year.
The Lake Carrier’s Association said this week that Great Lakes volumes of iron ore were 4m tonnes in June, down nearly 30% year-on-year.
Three of the six mines and taconite plants around Lake Superior remain idle.
Iron ore pellets, limestone and coal make up the bulk of what the fleet carries across the Great Lakes.
