Algoma

Canadian shipowner and operator Algoma Central Co. raised more cash for fleet renewal by selling off Delta Hotels Sault Ste. Marie Waterfront for $5.58 million. Canadian shipowner and operator Algoma Central’s decision to sell its real estate holdings is a result of a new strategic objective. In April 2017, Algoma Central Co. banked $19.6 million from selling office property and all capital from assest sales will be used for fleet renewal.