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Algoma announces strong 2011 financial results

2012-02-17

Algoma Central Corporation has announced a nearly fourfold increase in net earnings to $68.8 million in fiscal 2011 from $18.5 million in 2010.. Revenues also rose sharply, from $393.7 million in 2010 to $582.7 million in 2011. Earnings per common share jumped  from $4.77 to $17.69.

In addition to improved operating results from both domestic and ocean shipping businesses, the earnings of the year reflected the impact of the acquisition of the non-controlling interest in Seaway Marine Transport and the related vessels in the Upper Lakes Group (ULG).

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Ottawa Funds Major
Sept-Îles Terminal Project


2012-02-16

The federal government has agreed to offer financial support of up to $55 million for the construction of a multi-user dock in the Bay of Sept-Îles that will play a key role in iron ore shipping from the Port of Sept-Iles to Asia and other world markets. This represents one quarter of the costs of a project due to be completed over a period of 18 to 24 months.

The support from Ottawa - originating from the Gateways and Border Crossings Fund - was announced in Sept-Îles on Feb. 13 in the presence of Denis Lebel, Minister of Transport, and Peter Penashue, Minister of Intergovernmental Affairs.

Located at Pointe-Noire, the dock will accommodate the future Chinamax vessels carrying up to 300,000 tonnes of cargo.

It will be built on piles on the site of the old Gulf Pulp and Paper dock, with a 420-metre long approach. The dock itself will have two berths and measure 450 metres in length.

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Oshawa Harbour Commission
becomes Canada Port Authority


2012-02-10

The last remaining Harbour Commission in Canada has joined 17 other Canadian ports as a Canada Port Authority (CPA). The announcement on Feb. 10 by Transport Canada follows prolonged efforts by Donna Taylor, head of the Oshawa Harbour Commission and longest-serving Canadian port chief executive.

"I know Donna and the Board have worked on this for a long time and I am pleased  to see they have taken their rightful place among the other 17 other Port Authorities,"  Gary LeRoux, Executive Director of the Association of Canadian Port Authorities (ACPA), told Maritime Magazine. "They have always been the only Corporate member of the Association that was not a CPA and that will now be rectified."

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Port Metro Vancouver
reports strong, stable 2011


2012-02-09

Canada's largest port handled 122.5 million tonnes of cargo in 2011, a 3.4% increase over the previous year, according to final statistics.

Port Metro Vancouver saw continued growth in laden export containers (up 6%), a key indicator of the demand for Canadian goods by Asian economies. New records were also set in coal, potash and forest products exports.

"Our natural geographical advantage as the closest major gateway for Asia Pacific economies presents continuing opportunities for growth in the coming years," said Robin Silvester, President and CEO.

Total container traffic amounted to 2.50 million TEUs versus 2.51 million TEUs in 2010.

While breakbulk cargo was down 4.4% overall, breakbulk lumber exports rose 107%, thanks mainly to brisk demand from China.   (Photo: PMV)

McAsphalt Marine Transportation expands fleet

 
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Neptune Terminals joins Green Marine

2012-02-06

Located in Port Metro Vancouver, Neptune Terminals has become the first West Coast terminal to join the Green Marine Environmental Program.

One of the largest multi-product bulk terminals in North America, with a capacity of 17 million tonnes, Neptune handles potash, steelmaking coal, vegetable oils and fertilizers from Western Canada destined for global markets.

Jim Belsheim, President and CEO, underlined Neptune's commitment to "ongoing improvement of all our systems for water, air, noise, light."

Green Marine Executive Director David Bolduc stated that "Neptune Terminals is clearly a leader in sustainability."   (Photo: William Jans, PMV)

McAsphalt Marine Transportation expands fleet

 
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