Algoma Central Corporation Reports Operating Results for the 2021 First Quarter
Algoma Central Corporation (“Algoma” or “the Company”) (TSX: ALC), a leading provider of marine transportation services, today announced its results for the quarter ended March 31, 2021. (All amounts reported below are in thousands of Canadian dollars, except for per share data and where the context dictates otherwise.)
First quarter 2021 business highlights include:
• A net loss for the quarter of $22,416, which is a reduction of 5% compared to a loss of $23,626 reported for the prior year.
• Global Short Sea Shipping segment earnings of $1,444 compared to a loss of $2,187 in 2020. Freight rates and volumes continued to rebound significantly in the mini bulker sector, driving a major improvement in the results for the segment.
The use of exhaust gas cleaning systems, also known as scrubbers, on board vessels, is likely to get a leg-up as the global marine fuel sector works through potential solutions to decarbonize, industry sources said. Vessel owners have increasingly been considering potentially feasible options and an investment outlay that may be required as the marine .
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Algoma Central Corporation, a supplier of marine transportation services, has announced that it has taken delivery of the
Captain Henry Jackman, the fifth Equinox Class gearless dry bulk carrier and the 10
th Equinox Class vessel to join the fleet. The ship is expected to begin her voyage to Canada from the Jiangsu Yangzi-Mitsui Shipbuilding Company in China in mid-April. The vessel will cross the Pacific Ocean near the equator, transit through the Panama Canal and from there will make her way to Canada. The vessel is expected to begin trading on the Great Lakes in late June.
The
Captain Henry
New Great Lakes Bulk Carrier Delivered to Algoma
Maritime Activity Reports, Inc.
Captain Henry Jackman (Photo: Algoma Central Corporation)
Canadian shipping company Algoma Central Corporation announced Monday that it has taken delivery of its new dry bulk carrier Captain Henry Jackman from the Jiangsu Yangzi-Mitsui Shipbuilding Company in China.
The vessel is expected to begin trading on the Great Lakes in late June following its transit from China to Canada via the Panama Canal. The voyage is scheduled to commence in mid-April.
The Captain Henry Jackman is the fifth Equinox Class gearless dry-bulk carrier and the tenth Equinox Class vessel to join the Algoma fleet. It is also the most efficient. The vessel’s design, described as “Equinox 3.0”, is an evolution of the original Equinox Class, incorporating improvements in cargo deadweight capacity and equipment while maintaining the numerous performance efficiencies of the original design. These improvements include innovati
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