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Algoma Central Corporation announces that the Algoma Equinox has begun her voyage to Canada
TSX:ALC ST. CATHARINES, ON , Oct. 1, 2013 /CNW/ - Algoma Central Corporation (Algo...
About this update from Algoma Central Corporation
[{"type":"text","content":"\n\n\nTSX:ALC\n\n\nST. CATHARINES, ON, Oct. 1, 2013 /CNW/ - Algoma Central Corporation (Algoma) announced today that the Algoma Equinox set sail from the Nantong Mingde Heavy Industries shipyard in Nantong,\n China on her way to Canada.  This vessel marks the third vessel to be\n built for our Domestic Dry-Bulk fleet in China. These dry-bulk vessels\n included the Radcliffe R. Latimer (delivered in 2009) and the Algoma Mariner (delivered in 2011). In addition to these vessels, Algoma has also\n built the Algoscotia, a domestic tanker, and the Honourable Henry Jackman, an ocean-going dry-bulk vessel, in China. These vessels were delivered\n in 2004 and 2007, respectively.\n\n\nThe Algoma Equinox is the first in a series of eight Equinox Class vessels being built at\n Nantong Mingde shipyard. The series consists of four gearless bulk\n carriers and four self-unloading bulk carriers.  Algoma will own six of\n the series, consisting of two gearless bulkers and four self-unloading\n vessels. CWB Inc., formerly the Canadian Wheat Board, will own the\n other two gearless bulkers, which will be operated and managed by\n Algoma.\n\n\n\"Today, 20 Algoma crew members pushed away from the Nantong dock and\n began the long journey home,\" said Greg Wight, Algoma President and\n CEO.  \"The journey is expected to take eight weeks, during which time\n the crew will put the new ship through her paces. I know I speak for\n everyone from Algoma when I say that I look forward to seeing the Algoma Equinox and the crew arrive back in Canada in mid-November.\"\n\n\nThe Equinox Class represents the next generation of Great Lakes - St.\n Lawrence Waterway bulk cargo vessels. Algoma's $300 million investment\n in six Equinox Class vessels demonstrates the Corporation's commitment\n to operating in a sustainable manner.  The ships have been designed to\n optimize fuel efficiency and operating performance thus minimizing\n environmental impact.  A 45% improvement in energy efficiency over\n Algoma's current fleet average is expected, resulting from the use of a\n modern Tier II compliant engine, increased cargo capacity, and improved\n hull form. In addition, a fully integrated IMO approved exhaust gas\n scrubber will remove 97% of all sulphur oxides from shipboard\n emissions.  The use of exhaust gas scrubbers represents the...