Algoma Central Explained

Algoma Central Corporation
Type:Public
Location:St. Catharines, Ontario
Key People:Gregg Ruhl
Industry:Shipping
Num Employees:1,400
Ships:107[1] -->
Homepage:algonet.com

The Algoma Central Corporation is the result of a reorganization of the Algoma Central Railway in 1990. The company claims assets in excess of $400 million and revenue of $280 million. Corporate headquarters is located in St. Catharines, Ontario, Canada.

Subsidiaries

The company operates a number of subsidiaries including:

In 1980, the Algoma Central was the original owner (as Algocen Realty Holdings Ltd.) of Algo Centre Mall; Algoma Central Company wrote off over $5 million in property value due to 1990's Elliot Lake mine closures[2] and subsequently sold the property. The mall, renamed in 2005 by a subsequent owner, collapsed in a June 23, 2012, structural failure and has since been demolished.[3]

Shipping

An Algoma Central Corp. subsidiary, Algoma Central Marine, operates a fleet of self unloaders on the Great Lakes.[4]

In 2000, Upper Lakes Shipping Ltd. and Algoma Central began a partnership to coordinate the transportation of goods along the St. Lawrence Seaway, called Seaway Marine Transport. In 2011 upon the purchase of Upper Lakes Shipping Ltd. and buying out the partnership, the company re-emerged as Algoma Central Marine. Upon completion of the purchase, the entire fleet was then renamed, with the exception of the John D. Leitch, the ship that was named in honor of the company's then owner.

Beginning in 2013, the corporation initiated construction of a series of new bulk carriers to be named after the lead ship, .[5] [6] The redesigned fleet incorporated engineering and technology improvements to reduce fuel consumption, create a safer workplace, and reduce emissions and other environmental impact.[7] The company installed Buffalo Automation's "AutoMate" system of sensors, cameras, and software on select Equinox series vessels, to evaluate autonomous navigation.[8] [9]

Algoma Central's self-unloading bulk carriers
Name Launched Image
1978
1973
2019
2018
2020
2011
2017
2018
1979
1967
1978

Algoma also operates several gearless bulk carriers:[4]

Algoma Central's gearless bulk carriers:
Name Launched Image
1987
2013
1987
2014
2016
2021
2014
1967

Algoma operates a fleet of tankers:

Algoma Central's tankers[10]
Name Launched Image
2007 (acquired 2022)
2009
2010 (acquired 2022)
2008
2004
2010
2007 (acquired 2022)

External links

Notes and References

  1. Web site: Company Profile for Algoma Central Corp (CA;ALC) . October 10, 2008.
  2. Book: Annual Report 1992 . 1992 . Algo Central Corporation . Sault Ste Marie, ON . June 28, 2012 . 8; 24 . January 8, 2020 . https://web.archive.org/web/20200108094854/http://digital.library.mcgill.ca/hrcorpreports/pdfs/A/Algoma_Central_Corporation_1992.pdf . dead .
  3. News: . October 15, 2014. Elliot Lake Mall chronology: from birth to death — and beyond. . Ontario, Canada . September 8, 2019.
  4. Web site: Algoma Central Marine Fleet . . January 6, 2012 . Philip . Nash . dead . https://web.archive.org/web/20120107235439/http://www.boatnerd.com/passage/acm.htm . January 7, 2012.
  5. News: Algoma: First Equinox Class Vessel Launched (Canada) . . Betty . Nguyen . December 25, 2012 . June 22, 2013.
  6. News: Algoma Invests in Great Lakes Shipping . . March 23, 2011 . June 22, 2013.
  7. Web site: algonet.com . Explore The Equinox Class . . 2019 . September 11, 2019 .
  8. . Smart Ships: Canadian carriers adopting new digital technologies . Marine Delivers Magazine 2019. Ottawa, Canada . Chamber of Marine Commerce . 2019 . September 11, 2019 .
  9. . Feb 2019 . Algoma Central Corporation: major player in the domestic and oceangoing self-unloader market continues to extend its reach. Dry Cargo International . September 11, 2019 .
  10. News: Algoma Central Corporation Acquires New Vessel Algoma Dartmouth . . February 10, 2010 . January 5, 2012 . dead . https://web.archive.org/web/20180220121412/http://www.newswire.ca/en/story/632813/algoma-central-corporation-acquires-new-vessel-algoma-dartmouth . February 20, 2018.