Press release from CNW Group
Algoma Central Corporation Places Sixth in 2012 Marine Money Overall Performance Rankings
Wednesday, July 03, 2013
Algoma Central Corporation Places Sixth in 2012 Marine Money Overall Performance Rankings10:18 EDT Wednesday, July 03, 2013
(TSX : ALC)
TORONTO, July 3, 2013 /CNW/ - Algoma Central Corporation ("Algoma"), the largest Canadian shipowner and operator of domestic Great Lakes vessels, announced today that for the second straight year the Corporation placed in the top ten in Marine Money Magazine's Rankings of Publicly Traded Shipping Companies.
Marine Money Magazine has produced its annual ranking of public marine shipping companies since 1991. The 2012 list includes 83 companies engaged in all aspects of marine shipping. The annual Marine Money Overall Performance Rankings, which are designed to measure companies' ability to improve operating efficiency and to create shareholder value, are based on an average of measures including total return to shareholders, return on equity, return on assets, total asset turnover, and price to book ratio. Algoma placed sixth in the 2012 Overall Performance Rankings.
In addition, Marine Money ranks companies based on financial strength and Algoma placed fifth in these rankings for 2012. Algoma was one of only two companies to place in the top ten in both rankings in 2012 and placed in the top ten of both rankings for the second straight year.
"After a game-changing year in 2011, Algoma is now charting a course for the future" says Greg Wight, President and CEO, of Algoma Central Corporation. "We are extremely proud to remain in the top ten list of Marine Money's prestige annual rankings and I thank all of our hard working shipboard and shoreside employees for making this possible."
About Algoma Central Corporation
Algoma Central Corporation owns and operates the largest Canadian flag fleet of dry and liquid bulk carriers operating on the Great Lakes - St. Lawrence Waterway, including 19 self-unloading dry-bulk carriers, six gearless dry bulk carriers and seven product tankers. Algoma also has interests in ocean dry-bulk and product tanker vessels operating in international markets. Algoma owns a diversified ship repair and steel fabricating facility active in the Great Lakes and St. Lawrence regions of Canada. In addition, Algoma owns and manages commercial real estate properties in Sault Ste. Marie, St. Catharines and Waterloo, Ontario.
SOURCE: Algoma Central Corporation
For further information:
Greg D. Wight, FCA
President and Chief Executive Officer
Peter D. Winkley, CA
Vice-President, Finance and Chief Financial Officer