Tomahawk, WI 04/29/2014 (Basicsmedia) – Earlier this month, the United States Steel Corporation (NYSE:X) and Canadian Coast Guard crews kept up their struggle to clear pathways for carriers hauling essential raw materials across the ice-clogged Great Lakes, where a shipping gridlock caused a slowdown at the nation’s largest steel factory for a week.

 Hanging By A Thread

The United States Steel Corporation (NYSE:X) plant in Gary, Indiana, was functioning at diminished capacity as it tried to supplementits supply of iron ore. Two shipments of ore from mines in northern Minnesota reached them after a two-week long voyage across Lake Superior, a transit that would which ordinarily would take only three days. Luckily, U.S. Steel was able to function using reserves for a while before the ice began affecting their production.

A steel industry analyst stated that they should have planned better for this sort of scenario, seeing how this past winter was amongst the harshest in recent times. There was a point where the ice had spread across 92% of the Great Lakes, coming shy of the record that had been set in 1979.

The shipping season had started off around the end of March, with the release of locks on the St. Marys River, which connected Lakes Superior and Huron, anobstruction for vessels carrying raw materials like iron ore and coal to manufacturers and electric power plants. However, only one convoy — including two icebreakers and the two aforementioned ships hauling iron ore — were able to traverse Superior.

Roughly nine United States Coast Guard ships possess the ability to break through ice, but only one is specifically capable of dealing with thick formations. Two heavy-duty vessels had been dispatched by the Canadian Coast Guard as assistance.

It had been estimated that it would take a minimum of two weeks for the surface to be clear enough for freight-carriers to cross Superior without the aid of an escort ship.Even so, the icebreakers are likely to be on dispatch well into May and possibly up to Memorial Day.

Extensive Investor Relations

U.S Steel announced a few days back that interested investors, shareholders and other individuals would be able to listen to the company’s 1Q2014 conference call with securities analysts on April 30. The call that will be made available via the company’s website, will cover their1Q2014 financial results and might consist of forward-looking information, as well. United States Steel Corporation (NYSE:X) intends to release its financial figures for1Q2014 following the close of trading on the NYSE on April 29.

Other financial information, including releases regarding their earnings, some SEC filings and other investor-specific collateral, is available on their website.

DISCLAIMER: This content is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.