(TSX : ALC)
TORONTO,
July 11, 2012 /CNW/
- Algoma Central Corporation ("Algoma"), the largest
Canadian shipowner and operator of domestic Great Lakes vessels,
announced today that it placed fifth in Marine Money Magazine's
2011 Rankings of Publicly Traded Shipping Companies.
Marine Money Magazine has produced its annual
ranking of public marine shipping companies since 1991. The 2011
list includes 84 companies engaged in all aspects of marine
shipping. The annual Marine Money Rankings, which are designed to
measure companies' ability to improve operating efficiency and to
create shareholder value, are based on an average of measures
including total return to shareholders, return on equity, return on
assets, total asset turnover, and price to book ratio. Algoma
placed 32nd on this list for 2010.
"Algoma had an outstanding and game-changing
year in 2011" says Greg Wight,
President and CEO, of Algoma Central Corporation. "Moving up 27
spots in the prestigious Marine Money rankings and our inclusion in
their top ten list is reflective of the hard work of all of our
shipboard and shoreside employees."
A photo of the award and a copy of the Marine
Money article can be found on the company's newly designed website
at www.algonet.com.
About Algoma Central Corporation
Algoma Central Corporation owns and operates the
largest Canadian flag fleet of dry and liquid bulk carriers
operating on the Great Lakes - St. Lawrence Waterway, including 19
self-unloading dry-bulk carriers, seven gearless dry bulk carriers
and seven product tankers. The Corporation expects to add eight new
state-of-the-art Equinox Class Great Lakes bulk carriers to its
fleet in 2013 and 2014, of which six will be owned by Algoma. The
Corporation also has interests in ocean dry-bulk and product tanker
vessels operating in international markets. Algoma owns a
diversified ship repair and steel fabricating facility active in
the Great Lakes and St. Lawrence
regions of Canada. In addition,
Algoma owns and manages commercial real estate properties in
Sault Ste. Marie, St. Catharines and Waterloo, Ontario.
SOURCE Algoma Central Corporation
