Algoma Central

Canadian shipowner and operator Algoma Central reported net loss of CAD 19.1 million in other words $13.9 million in Q1 2017. Revenue for the Q1 2017 was up 20% compared to a year ago at CAD 48.7 million due to salt cargoes. CEO Ken Bloch Soerensen told that Q1 2017 results reflect a sustainable improvement in domestic dry bulk earnings. Toronto Stock Exchange listed     Algoma Central’s earnings of ocean self-unloaders with Marbulk joint venture were down 76%.