About the Corporation

Algoma Central Corporation owns Canada’s largest domestic fleet of vessels operating on the Great Lakes - St. Lawrence Waterway. This fleet consists of thirteen self-unloading and five gearless bulk carriers and seven product tankers. The Corporation has interests in ocean dry-bulk and product tanker vessels operating in international markets. The Corporation owns a diversified ship and diesel engine repair and fabricating facility active in the Great Lakes and St. Lawrence regions of Canada. In addition, the Corporation owns Algoma Central Properties Inc. and Algoma Central Hotels Ltd. which own and manage commercial real estate properties in Sault Ste. Marie, St. Catharines and Waterloo, Ontario, and has a 50% interest in 75 Corporate Park Drive Ltd. with Meridian Credit Union which owns an office building in St. Catharines, Ontario.

The Corporation reached the milestone of 110 years of age in 2009. Its origins trace back to its creation as a railway in Sault Ste. Marie, Ontario in 1899. The Corporation’s executive offices are located in St. Catharines, Ontario. The Corporation employs approximately 1,500 people world-wide. The Corporation has assets of $694 million and revenues of $520 million.

The Domestic Dry-Bulk segment includes thirteen self-unloading and five bulk carriers and Fraser Marine and Industrial, a division that provides ship and diesel engine repair and steel fabricating services. The Corporation’s vessels are commercially and operationally managed by Seaway Marine Transport (SMT) a partnership with Upper Lakes Shipping Inc., an unrelated company. SMT holds a 25% interest in Laken Shipping Corporation (Laken), a U.S. company that owns a U.S. flag tug and barge. A wholly owned subsidiary of SMT, called SMT (USA), time charters the tug and barge from Laken and commercially manages them.

The Product Tanker segment serves both domestic and international markets. The domestic fleet of seven product tankers is owned and operated through a wholly owned subsidiary, Algoma Tankers Limited (ATL). The Corporation’s wholly owned subsidiary, Algoma Tankers International Inc. (ATI) owns one product tanker currently active in international markets. ATI’s existing product tanker and the five new product tankers under construction will become part of the new international product tanker venture called Hanseatic Tankers. Other participants in Hanseatic Tankers include Bernhard Schulte of Hamburg, Germany, Sloman Neptun of Bremen, Germany, Intrepid Shipping LLC of Stamford, Connecticut and IMS Holdings LLC of Houston, Texas.

The Corporation’s international Ocean Shipping segment consists of two entities. Marbulk Canada Inc. (MCI) is jointly owned by the Corporation and CSL Group Inc. It owns four ocean self-unloaders and a fifth self-unloader that is jointly owned with Bernhard Schulte. Algoma Shipping Inc. (ASI), a wholly owned subsidiary of the Corporation, owns two ocean self-unloading vessels and three ocean handy-sized geared bulk carriers. The seven MCI and ASI ocean self-unloaders are combined with twenty other ocean self-unloaders owned by CSL International Inc., of Beverly, Massachusetts, Oldendorff Carriers, based in Lübeck, Germany and T. Klaveness Shipping AS, based in Oslo, Norway to form the CSL International (CSLI) commercial arrangement.