The St. Lawrence Seaway Management Corporation (SLSMC) announced that there will be no toll increases 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. “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”.
Since its inception in 1959, more than 2.5 billion tonnes of cargo valued at over $375 billion have moved via the Seaway.