No Toll Increase for Seaway in 2012
December 15, 2011
The St. Lawrence Seaway Management Corporation (SLSMC) is pleased to announce that there will be no toll increase in 2012. The decision to extend the toll freeze was made in an effort to maintain the momentum underlying the Seaway’s market development initiatives.
In spite of the 1% tonnage increase in 2011, the North American and world economies remain fragile. “Given the economic situation, an extra year with no toll increase will assist our stakeholders in their efforts to develop new business and will serve to reinforce the Great Lakes / St. Lawrence Seaway system’s position as the gateway to North America’s heartland” said Bruce Hodgson, Director of Market Development for the SLSMC.
SLSMC President and CEO Terence Bowles voiced his support for the toll freeze. “We are striving to reduce system costs and bring more cargo into the system. The extension of the toll freeze and of the various incentive programs represents tangible steps toward meeting these objectives”.
According to a new study released in October, the Great Lakes / St. Lawrence Seaway system supports over 225,000 jobs and generates billions of dollars in income and revenues annually in Canada and the United States. Since its inception in 1959, more than 2.5 billion tonnes of cargo valued at over $375 billion have moved via the Seaway. The SLSMC remains dedicated to promoting the economic and environmental benefits of the marine mode, attracting new cargoes to the Seaway and leveraging technology to enhance the system’s performance.