The Port of Indiana - Burns Harbor will export 11,000 net tons of hot rolled coils from Mittal Steel to Spain this week, marking the first export shipment of steel through the Port of Indiana since 2005.
The shipment's destination is Pasajes, Spain. Federal Marine Terminals, which serves as the Port's general cargo stevedore, loaded the vessel Monday and Tuesday.
Ian Hirt, general manager of Federal Marine Terminals told press, "Historically, the majority of steel moving through the Port is imported from European countries, but changing market conditions and a weak US dollar can trigger export opportunities. There is a possibility for more export shipments this year."
Steel exports from the Burns Harbor port were at their highest in 1995, at 243,000 net tons. However, from 2003 to 2005, the Port shipped only around 55,000 net tons of steel to foreign destinations. Due to the strong US steel market over the past two years, steel export shipments from Burns Harbor had stopped entirely until now.
As it has year-round access to the inland river system, the Port of Indiana - Burns Harbor does ship some steel by barge, which is eventually exported to world markets after it is loaded to ocean-going vessels in the New Orleans area.
As for steel imports, the Port of Indiana - Burns Harbor handles approximately 15 percent of all US steel trade with Europe, setting a new record of $584 million in 2006 steel shipments, up 57 percent from 2005.
Overall, all three of the Ports of Indiana - Burns Harbor/Portage, Jeffersonville, and Mount Vernon, handled a total $995 million in steel shipments in 2006.