In the bulk cargo trade on the great lakes , st-Lawrence and eastern seaboard ; again the cargo calling for the highest freight rate is petroleum products .There is no contest.On top of that , tanker charter parties offer demurrage clause , fuel paid etc...
The carriage of petroleum cargo is a very risky business ie. Oil pollution liabilities etc... so the risk , the value of the product (even in these days ) , calls for much higher freight rate.
On international market , the story may be a bit different but still higher freight rate for tankers.
A general insight into this question could be determined by a current list of freight rates for the different bulk materials moved on the lakes. For a more detailed picture, consideration must be given also to particular contractual agreements made with shipping companies to move a specified amount of cargo each season.
What about the ore and taconite pellets for the steel industry? I would have thought surely that this cargo and commodity would’ve been at least at or near the top of the list. Years ago before the changes in coal I would’ve thought and said then at least that coal would’ve been up there as well but, with the phasing out of coal IMO there will always be a demand for ore and taconite pellets for the steel industry correct here? Just my two cents here on this.
Are there cargos that are more profitable per ton to transport. If so what are the more valuable commodities. I understand with larger ships economies of scale is a consideration.