Thursday, October 7, 2010

New ships could soon be sailing the great lakes

The Thunder Bay Port Authority is happy about the removal of an import duty on ships built overseas. CEO Tim Heney says the Federal Government decision will greatly benefit shipping on the Great Lakes because it will make the purchase of new ships feasible.  Heney says the current average age of the fleet is 38 years old and the expected life span of these ships is 40 years old, which means an upgrade is overdue.  The duty was 25 percent and the cost of the new ships is around 45 million dollars.