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.
Canadian Company Sentenced for Violating Clean Water Act Details Written by DOJ
New York - The Algoma Central Corporation (Algoma), headquartered in St. Catharines, Ontario, was fined $500,000 after pleading guilty to dumping wastewater into Lake Ontario.
Algoma operated a fleet of dry and liquid bulk carriers on the Great Lakes. One of the vessels in the defendant’s fleet was the M/V Algoma Strongfield (Strongfield). Built in China, the Strongfield was delivered to Canada on May 30, 2017, by a crew from Redwise Maritime Services, B.V. (Redwise), a vessel transport company based in the Netherlands.
“The Great Lakes are our nation’s largest source of fresh water, and this prosecution shows the Administration’s commitment to preserving a natural resource that will be crucial for generations to come,” said Acting Assistant Attorney General Jean E. Williams of the Justice Department’s Environment and Natural Resources Division (ENRD).
TORONTO A Canadian shipping company has been fined US$500,000 after pleading guilty to dumping “unprocessed oily bilge water” into Lake Ontario. According to a news release from the U.S. Department of Justice, employees of the St. Catharines, Ont.- based Algoma Central Corporation violated the U.S. Clean Water Act back in 2017 when they mistakenly dumped approximately 45,000 litres of the wastewater into the lake back while within the waters of western New York. “The very purpose of the Clean Water Act is to protect our natural resources, including one of our nation’s greatest natural treasures, the Great Lakes, from harm,” U.S. Attorney James P. Kennedy for the Western District of New York, said in a news release. “This conviction and the fine imposed sends a strong message that those who violate the Clean Water Act will be held accountable for their actions.”
Canada-Based Algoma Fined $500,000 for Dumping Wastewater Into Lake Ontario – gCaptain gcaptain.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gcaptain.com Daily Mail and Mail on Sunday newspapers.