The St. Lawrence Seaway Management Corporation predicted that cargo shipments would rise by about seven percent to 39.1 million tons for 2011.

Canadian Seaway administrators marked the official opening of the 53rd navigation season Tuesday at the St. Lambert Lock at Montréal.

“Transportation of raw materials serves as a bellwether for the economy as a whole, and despite volatile global economic conditions, we have reason to be cautiously optimistic regarding our various market segments” said SLSMC President and CEO Terence Bowles. “Projections for the 2011 season foresee continued strength in the traditional staple cargoes of grain and iron ore. Shipments of road salt are projected to increase to replenish inventories depleted over a challenging winter season. Project cargo is pegged to rise due in part to continued activity in the oil sands.”

Ian White, President and CEO of the Canadian Wheat Board, said, ("The CWB moves between 3 and 3.5 million tonnes of grain to markets through the Seaway each year, making it a vital part of our supply chain. Recent announcements on laker construction by a number of companies demonstrate our shared confidence in the Seaway's vibrant future."

Announcements by Algoma Central Corporation, Canada Steamship Lines, and the Canadian Wheat Board to build state-of-the-art vessels bring about the prospect of fleet renewal, with the addition of vessels that offer new engine technology, fuel efficiency and environmental performance.

Collister Johnson Jr., Administrator of the U.S. Saint Lawrence Seaway Development Corporation, noted that the marine mode continues to be the most energy efficient mode of transportation. “In an era of rapidly rising fuel prices, moving more cargo via the marine mode will serve to lessen our dependence on imported petroleum and bolster our national security” said Johnson.