President of the Chamber of Marine Commerce, Stephen Brooks speaks at the NASCO Conference at Caesars Windsor, September 29, 2015.  (Photo by Adelle Loiselle)President of the Chamber of Marine Commerce, Stephen Brooks speaks at the NASCO Conference at Caesars Windsor, September 29, 2015. (Photo by Adelle Loiselle)
Chatham

Shipping Industry Reports Dramatic Turnaround

The president of the Chamber of Marine Commerce says cutting the tariff on new ships has encouraged a $7.1-billion boost in capital investments in the St.Lawrence Seaway and Great Lakes.

Stephen Brooks provided the update at this week's North American Strategy for Competitiveness conference at Caesars Windsor.

He says thanks to the 25% cut in 2010, $1.7-billion has been invested in upgrades at the more than 100 ports and docks across the Great Lakes system. Another $1.2-billion is modernizing locks along the Seaway, and shippers are spending $2.3-billion on new ships.

"They're not only sleeker; they're greener. They're safer. They're even more efficient," he says. "They're the most technologically advanced vessels on the water today."

Brooks also says by cutting the tariff, the Canadian and U.S. economies is stronger.

"The Great Lakes Seaway generates about $35-billion in business revenue for the U.S. and Canada and supports about 227,000 jobs."

Brooks says while the average person may not think a lot about shipping, it affects just about every aspect of Canadian life, from the delivery of produce to markets to the supply of road salt in the winter.

Read More Local Stories