b'34American Journal ofTransportation ajot.com(VACUUMcontinued from page 33) imports for the month. is that the CSP acquisition enhancesIn Europe, 2022 showed a 4.6% [ArcelorMittals]positioninBrazil,dropindemandfordomesticsteel saidMittal,providingthecompanyproduct.ThisyearsoutlookisforHWYH2O.COMwiththeopportunitytosatisfylocala1.6%decrease,while2024is demand,whichissettoskyrocket.expected to usher in a modest recov-While global economies, including Bra- eryof1.6%,accordingtonumbers zils, face economic uncertainty, Brazilsfrom the European Steel Association economic prospects appear to be rela- (EUROFER).AxelEggert,EURO-tively rosy, which, along with expectedFERsdirectorgeneral,blamesthe spendingincreasesinBrazilsinfra- situation on massive cheap imports structure and housing sectors, will likelyfrom third countries as well as infla-increase domestic demand for steel. Thattion, supply-chain issues, decarbon-raises the question to what extent Brazilizationcosts,andRussiaswarin can supply export markets to make upUkraine and its impact on inflation for contracting Russian and Ukrainianand global supply chains. steel production going forward. Itremainstobeseenwhether Europe represented 13.4% of totalBrazil will be in a position to supply shareofBrazilsexportsin2022,asEuropewithincreasedvolumesof comparedto2.2%in2021,accord- steel in the longer run. Brazils steel ing to a report from S&P Global. Theconsumption should double within the U.S. remained the main destination ofnext 10 years, reportedBloomberg, Brazilian steel products, but this figurewithincreasedspendingforeseenin was down 9.4%, the report noted. housing, renewable energy, ports, and oil-and-gas projects.r estrictiveM easuresr eMoveAidingBrazilspositioninglobali MPacts oNb razilse coNoMy W I T H O U R N E W A N Dsteel has been the removal of restric- TheBrazilianeconomysgrossI M P R O V E D G A T E W A Ytive measures against Brazilian exportsdomesticproductgrewasurprisingI N C E N T I V E , T H E R E H A Sofcold-rolledsteelproducts(CRC)2.9%in2022,defyingsomeearlierN E V E R B E E N A B E T T E RbytheU.S.andtheUK.TheU.S.predictionsofmuchmoremeagerT I M E T O S T A R T S H I P P I N Gremovedanti-dumpingandcoun- growth, a level that may be equaledO N T H E G R E A T L A K E Stervailing duties of up to 46% in onthisyear,accordingtothecountrysW I T H H W Y H OimportsofCRCfromBrazil,whileEconomyMinistry.Inflation,which2keepingthemeasuresonthesameraninthedoubledigitsforthefirst products from other origins, includingseven months of 2022, ended the year China, India, Japan, South Korea, andat5.79%.Theannualratereported the UK. The UK excluded Brazil fromfor core inflation came in at just 2.5% a 25% surcharge on steel sheets andannualgrowthduringthelastfour CRC. The termination of those mea- months of the year and January 2023 sures by the U.S. may have contrib- showed a gain 5.77%. The data ser-uted to a spike in Brazilian imports ofvice Statistica projects 4.68% annual 711% in January, according to num- inflation this year, and some observers berssuppliedbythe AmericanIronproject that the Brazils central bankFor more information:and Steel Institute (AISI), part of anwill soon begin to lower interest rates.1-905-641-0309 or email [email protected] increase of 18% in U.S. steel(VACUUMcontinued on page 37)(DEVELOPMENTScontinuedfuturecustomers,allowingLogistec from page 32) to gain an important foothold in the CanadianbusinessinterestsfeelthatGreat Lakes region and access prime CanadamustrespondeffectivelytolocationsintheU.S.GulfandEast theboldmulti-billion-dollarInflationCoast regions.ReductionActrecentlyoutlinedbyIn a recent interview, Mr. Corri-President Biden for markedly boostinggan stressed that Logistecs focus on low-carbon energy. the safe and efficient handling of over-Otherwise,thereseemsnohold- sizedcargoscontinuesintheever-ing-backapproachtobefoundintheevolving wind energy, mining and oil announcement of Logistec Stevedoringand gas sectors.acquiring the Canadian and U.S. marineAmongothermoves,Corrigan terminalbusinessofMontreal-basedcitedCastaloopUSA,aLogistec FednavLtd.,notablyFederalMarineowned company, which has continued Terminalswhichforfivedecadeshasits growth and handled oversized wind providedstevedoring,handling,andcomponents. This included 74-meter warehousing services for bulk, contain- blades through the ports of Oswego erized, project and general cargo. and Buffalo, New York as well as Erie, As part of Logistecs ambitiousPennsylvania, and are currently man-strategic plan to expand its marine ser- aging 6 wind projects at these strate-vices both geographically and opera- gically located terminals.tionally,thisacquisitionwillallowAdditionally,Corriganadded, ustogainafootprintinnewmar- theycontinuetohandlemassive kets in Canada and the USA, com- project cargo units weighing upwards mentedRodneyCorrigan,Presidentof96MTinKitimatdestinedfora of Logistec Stevedoring Inc, when thefuture LNG plant in British Colum-C$105 million acquisition was madebiaaswellasmanagingon-going public.Ourcustomerswillbenefitproject handling of 37-ton steel slabs from a large and efficient network, asdailyinBrownsville, Texasthrough well as strong expertise from the FMTtheir GSM subsidiary.team, and together, we will continueLogistecsspecializedhandling to offer quality service to contributecapabilities have been developed and to a safe, reliable supply chain. honed over their 70-year history, with a highly versatile, process-driven and M ajore xPaNsioN oFl ogistec focused,safetymindset,throughout N etWork its network of ports and terminals.The addition of 11 terminals repre- AtthePortofMontreal,break-sents a major expansion of Logistecsbulkactivityhasreboundedstrongly network, bringing its total to 90 termi- from the COVID-19 world onslaught nals in 60 ports across North America.in2020.Severalterminalsoperated Thecombinednetworkwillprovide(DEVELOPMENTScontinued on strategicgatewaysforexistingandpage 35)'