Business
Algoma Central Corporation to name new ship after City of Sault Ste. Marie
ALC-T SAULT STE. MARIE, ON , Sept. 24, 2013 /CNW/ - Algoma Central Corporation ...
About this update from Algoma Central Corporation
[{"type":"text","content":"\n\n\nALC-T\n\n\n\n\n\nSAULT STE. MARIE, ON, Sept. 24, 2013 /CNW/ - Algoma Central Corporation\n announced today that it will name one of its new\n environmentally-advanced Equinox Class vessels after the City of Sault\n Ste. Marie.\n\n\nGreg Wight, President and CEO of Algoma Central Corporation, revealed\n the news as part of a keynote speech delivered at a luncheon hosted by\n the Sault Ste. Marie Chamber of Commerce on the future of Great\n Lakes-Seaway shipping.\n\n\nWight said: \"We want to pay tribute to the long-standing relationship\n that has existed between our company and Sault Ste. Marie and to\n recognize the important role that marine shipping plays within this\n community.  Accordingly, I am pleased to announce that Algoma Central\n will be naming one of its new Equinox Class vessels the 'Algoma Sault'.\"\n\n\nAlgoma Central Corporation owes its formative years to Sault Ste. Marie.\n It was first incorporated in the city back in 1899 as the Algoma\n Central Railway Company, which created a rail line from Sault Ste.\n Marie to the main Canadian Pacific rail line for the transport of iron\n ore and timber. Algoma Central, which is now headquartered in St.\n Catharines, has evolved into the largest Canadian-flag shipowner in the\n Great Lakes with 32 Canadian flag vessels. \n\n\nThe company continues to have a strong connection to Sault Ste. Marie\n through its substantial downtown property developments, including the\n Station Mall, Station Tower, Station 49 and the Delta Sault Ste. Marie\n Waterfront Hotel & Conference Centre.\n\n\nThe Algoma Sault is expected to arrive to trade in the Great Lakes-Seaway region for the\n beginning of the 2015 navigation season. \n\n\nAlgoma Central, and its customer the Canadian Wheat Board, have invested\n close to $500 million in 10 new vessels.  Two of these ships are\n already trading in the Great Lakes and eight Equinox Class ships are\n under construction in China. The first Equinox Class vessel, the Algoma Equinox, is expected to arrive in the Great Lakes in November 2013.\n\n\nThese new lakers, which will carry a variety of cargoes that North\n American industry depends upon, including grain, iron ore, coal,\n construction materials and salt, are equipped with the latest\n technology to make them significantly more efficient and\n environmental...