Algoma Central Corp (TSX:ALC)Industrial
Algoma Central Corporation is a marine shipping company transporting raw material like salt, gypsum, iron ore, cement, grains and petroleum products across the globe.
Algoma owns and operates a fleet of tankers and carriers for petroleum products, such as gearless dry-bulk carriers and self-unloading carriers.
It operates through an extensive network of cargo fleet in the Great Lakes–St. Lawrence Seaway.
Algoma holds 50 per cent interest in NovaAlgoma, a diversified company that owns short-sea ships and carries cement and dry-bulk for global customers.
The company also deals in self-unloading ocean-going vessels. The Ontario-based company was known as Algoma Central Railway Company since its inception in 1899.
Algoma operates under different business units:
• Domestic- Dry bulk
• Global Short Sea-Shipping
• Ocean self-loaders
• Domestic Product Tankers
Algoma offers dry-bulk carriers in the Canadian East Coast. The segment provides a wide range of conveyor-style self-unloaders and standard gearless dry-bulk carriers. In addition, the company also offers vessel services in the Great Lake and St. Lawrence Waterway.
Algoma is presently focuses on a renewal program, wherein old carriers shall be replaced by technologically advanced and sustainable vessels.
The domestic dry bulk fleet consists of diversified self-unloader vessels such as Algoma Buffalo, Algoma Conveyar, Algoma Compass, Algoma Innovator, Algoma mariner, etc.
Algoma Gearless Bulk Carriers provides shipping services through a fleet of following vessels:
• Algoma Discovery
• Algoma Harvesters
• Algoma Strongfield
Domestic Product Tankers
Algoma Domestic Product Tankers segment offers services for reliable and safe shipping of liquid petroleum products from the regions of St. Lawrence Seaway, Great Lakes, and Atlantic Canada. The tanker fleet includes various vessels such as:
• Algoma Hansa
• Algoma Darthmouth
The Ocean Self-Unloader segment operates a fleet of vessels transporting cargo materials like iron ore for the steel industry, gypsum for wallboard production, salt for road safety, crushed aggregates for construction, and coal for electricity generation. It caters to the markets in the Americas and internationally.
Ocean self- Unitholders comprises five ocean-going self-unloading ships. In addition, the company has 50 per cent interest in the sixth unloader and additional 25 per cent interest in specialized ocean ship. The fleet includes Algoma Victory, Algoma Verity, Algoma vision, Algoma Valour, Algoma integrity, Bahama Spirit and Wester Stahl.
Global Short Sea Shipping
The business segment operates through joint venture partnerships with NovaAlgoma Bulk Holdings, NovaAlgoma Cement Carriers and NovaAlgoma Short Sea Carriers.
NovaAlgoma Cement Carriers (NACC) comprises cement carrier fleets operating in Great Lakes–St. Lawrence Waterway.
NovaAlgoma Short Sea Carriers (NASC) caters to agricultural, cement, construction, energy and steel industries across the globe. The company claims that six vessels are presently under construction.
In addition, it says that short sea carriers make cargo transport efficient and accessible in the coastal and inland ports.
"63 Church Street Suite 600 St. Catharines, Ontario L2R 3C4"