New Schnitzer equipment targets boost in containerized shipments
Oct 29, 2007 | 11:47 AM
| Michael Marley
Schnitzer Steel Industries Inc., Portland, Ore., is exporting more ferrous scrap in containers and plans to add new equipment to facilitate the loading of containers at its export yards.
The company is already shipping scrap to some of its offshore customers in containers. "The rise in containerized shipments is really a phenomenon that has arisen by the need to return containers to Asia because of the import situation. A lot of that has been focused on southern California, where we (Schnitzer) do not operate," John Carter, Schnitzer's president and chief executive officer, told analysts in a conference call Monday.
The profits on container shipments tend to be better because of the backhaul rate for the containers, Carter said. "On the other hand, a container only holds 17 tons of scrap, so when you look at the bulk rate it takes a lot of containers to make up for one bulk shipment."....
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