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03.07.25 - 15:51
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NovaAlgoma Cement Carriers Establishes New JV With DP World (Business Wire)
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LUGANO, Switzerland--(BUSINESS WIRE)--#yourmarinecarrierofchoice--NovaAlgoma Cement Carriers Limited (“NovaAlgoma"), a joint venture between Algoma Central Corporation (“Algoma” - TSX: ALC) and Nova Marine Holdings SA (“Nova”) and the world's leading operator of specialized pneumatic cement carriers, today announced it has entered a definitive agreement with P&O Maritime Logistics (“POML”), a wholly owned subsidiary of DP World, that will see POML acquire a 51% controlling stake in NovaAlgoma's wholly owned cement assets.
The transaction excludes NovaAlgoma's joint venture interests in Northern Europe, Indonesia, and Greece. NovaAlgoma will retain a 49% minority interest to be held in a new entity based in Dubai (“NACC"). There will be no changes to the daily operations of the NACC vessels as a result of the transaction and the fleet will continue to be commercially and technically managed by the current teams.
NovaAlgoma was established in 2016 and specializes in the global t...
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05.05.25 - 22:12
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Algoma Central Corporation Announces Results of 2025 Annual General Meeting of Shareholders (Business Wire)
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ST. CATHARINES, Ontario--(BUSINESS WIRE)--#yourmarinecarrierofchoice--Algoma Central Corporation (TSX:ALC), held its Annual General Meeting of Shareholders (the “Meeting”) on May 2, 2025. Each of the matters set out below were voted upon at the Meeting and are described in greater detail in the Company's Management Information Circular dated March 7, 2025, available online at www.algonet.com/investor-relations and www.sedarplus.ca.
1. Election of Directors
All nominees listed in the Management Information Circular were elected as directors until the next annual general meeting of shareholders with the support of 74.13% of shares voted.
Nominee
Outcome
Votes For
Votes Against
Total
Mats H. Berglund
Elected
29,963,519
73,453
30,036,972
Richard B. Carty
Elected
29,909,985
126,987
30,036,972
Jens GrØnning
Elected
29,965,350
71,622
30,036,972
E.M. Blake Hutcheson
Elected
29,965,607
71,365
30,036,972
Duncan N.R. Jackman
Elected
29,913,717
?...
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02.05.25 - 15:30
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Algoma Central Corporation Reports Financial Results for the 2025 First Quarter (Business Wire)
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Amid global economic and trade uncertainties, Algoma stays the course with a focus on reliable service, fleet improvements, and a growing vessel portfolio
ST. CATHARINES, Ontario--(BUSINESS WIRE)--#yourmarinecarrierofchoice--Algoma Central Corporation (TSX: ALC) ("Algoma", the "Company") today reported its results for the three months ended March 31, 2025. Algoma reported revenues of $107,201, compared to revenues of $109,214 in 2024. Net loss for 2025 was $23,280 compared to a net loss of $17,253 for the same period in 2024. Due to the closing of the canal system and the winter weather conditions on the Great Lakes – St. Lawrence Seaway, the majority of the Domestic Dry-Bulk fleet does not operate for most of the first quarter. All amounts reported below are in thousands of Canadian dollars, except for per share data and where the context dictates otherwise.
“Despite global economic uncertainties, Algoma remains steadfast in our commitment to delivering resilient service to our cu...
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11.04.25 - 13:06
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Algoma Central Corporation to Hold 2025 Annual General Meeting of Shareholders on May 2, 2025 (Business Wire)
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ST. CATHARINES, Ontario--(BUSINESS WIRE)--#yourmarinecarrierofchoice--Algoma Central Corporation (TSX: ALC) is pleased to announce that the 2025 Annual General Meeting (the “Meeting”) of Shareholders will be held in person on Friday May 2, 2025 at Vantage Venues, 27th floor, 150 King Street West, Toronto, Ontario M5H 1J9 at 11:30 a.m. (EDT).
The Company's Management Information Circular and Notice of Meeting as well as its 2024 Annual Report is available to shareholders in the Investor Relations section of Algoma's website. Meeting materials distributed to shareholders include their control number and instructions on how to vote their shares prior to the Meeting or in person during the day of the Meeting. Whether or not you are able to attend the Meeting in person, registered shareholders and non-registered shareholders are encouraged to vote in advance of the Meeting.
Financial results for the three months ended March 31, 2025 will also be released on May 2, 2025 and will be reviewed during the Mee...
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19.03.25 - 12:06
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Algoma Central Corporation Announces Renewal of Normal Course Issuer Bid (Business Wire)
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ST. CATHARINES, Ontario--(BUSINESS WIRE)--#yourmarinecarrierofchoice--Algoma Central Corporation (“Algoma” or the “Company”) (TSX:ALC), a leading provider of marine transportation services, announced today that the Toronto Stock Exchange (“TSX”) has accepted its notice of intention to proceed with the renewal of its normal course issuer bid (the “NCIB”).
Algoma's Board of Directors believes that the market price of Algoma's common shares (“Shares”), from time to time, may not reflect the inherent value of the Company and purchases of Shares pursuant to the NCIB may represent an appropriate and desirable use of funds. Any purchases made under the NCIB will be made by Algoma subject to favourable market conditions at the prevailing market price at the time of acquisition through the facilities of the TSX and/or alternative Canadian trading systems.
Pursuant to the notice, during the twelve month period commencing March 21, 2025 and ending March 20, 2026, Algoma may purchase up to 2,028...
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27.02.25 - 13:15
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Algoma Central Corporation Reports Financial Results for Fiscal 2024 (Business Wire)
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Renewed market demand, stable growth, and additional capacity led to strong year-end results and an optimistic yet cautious outlook for 2025.ST. CATHARINES, Ontario--(BUSINESS WIRE)--#yourmarinecarrierofchoice--Algoma Central Corporation (TSX: ALC) ("Algoma", the "Company") today reported its results for the year ended December 31, 2024. Algoma reported revenues of $703,444, compared to revenues of $721,220 in 2023. Net earnings for 2024 were $91,638 compared to earnings of $82,870 in 2023. The Company reported 2024 EBITDA of $200,494 compared to $186,112 for 2023. All amounts reported below are in thousands of Canadian dollars, except for per share data and where the context dictates otherwise.
"As we close out 2024, our 125th anniversary year, I am pleased to report strong performance," said Gregg Ruhl, President and CEO of Algoma Central Corporation. "Despite early-year softness in domestic dry-bulk demand, securing new spot business in iron ore and strong seasonal de...
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13.02.25 - 13:03
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Algoma Central Corporation to Issue Fiscal 2024 Financial Results on February 27, 2025 (Business Wire)
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ST. CATHARINES, Ontario--(BUSINESS WIRE)--#yourmarinecarrierofchoice--Algoma Central Corporation (TSX: ALC) today announced it will report its financial results for the year ended December 31, 2024 before market open on February 27, 2025. The Company's fiscal 2024 earnings release and full financial results will be available on the Company's website and on SEDAR.
Algoma Central Corporation is a global provider of marine transportation that owns and operates dry and liquid bulk carriers, serving markets throughout the Great Lakes St. Lawrence Seaway and internationally. Algoma is aiming to reach a carbon emissions reduction target of 40% by 2030 and net zero by 2050 across all business units with fuel efficient vessels, innovative technology, and alternate fuels. Algoma truly is Your Marine Carrier of Choice™. Learn more at algonet.com. Contacts
Gregg A. Ruhl
President & CEO
905-687-7890
Christopher A.L. Lazarz, CPA, CA
Chief Financial Officer
905-687-7940...
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17.01.25 - 13:03
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Algoma Central Corporation Announces a 5% Increase in Quarterly Dividend (Business Wire)
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ST. CATHARINES, Ontario--(BUSINESS WIRE)--#yourmarinecarrierofchoice--Algoma Central Corporation (“Algoma” or “the Company”) (TSX: ALC), a leading provider of marine transportation services, today announced that the Company's Board of Directors authorized payment of a quarterly dividend to shareholders of $0.20 per common share.
The dividend is payable on March 3, 2025 to shareholders of record on February 14, 2025.
This $0.20 common share dividend represents a 5% increase from the $0.19 per share dividend paid on December 2, 2024. Since 2018, Algoma's quarterly dividend has more than doubled and the Company has paid Special Dividends totaling $4.75 per share.
About Algoma Central Corporation
Algoma Central Corporation is a global provider of marine transportation that owns and operates dry and liquid bulk carriers, serving markets throughout the Great Lakes St. Lawrence Seaway and internationally. Algoma is aiming to reach a carbon emissions reduction target of 40% by 2030 and net zero by 2050 ...
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18.12.24 - 12:32
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Wärtsilä propulsion package to power world′s largest methanol-ready cement carrier vessel (Cision)
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Wärtsilä Corporation, Press release, 18 December 2024 at 11:00 EET
Technology group Wärtsilä's focus on supporting the marine industry's efforts to decarbonise operations continues to drive concrete steps forward. The latest order is to supply a complete propulsion package for a 38,000 DWT methanol-ready cement carrier vessel. When built, this will be the world's largest vessel of its type, and the first with a methanol-ready notation. The order has been placed by NovaAlgoma, a joint venture between the Italian Swiss-based, Nova Marine Group and the Canadian Algoma Central Corporation. The...
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18.12.24 - 10:25
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Wärtsilä propulsion package to power world′s largest methanol-ready cement carrier vessel (Cision)
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Wärtsilä Corporation, Press release, 18 December 2024 at 11:00 EET
Technology group Wärtsilä's focus on supporting the marine industry's efforts to decarbonise operations continues to drive concrete steps forward. The latest order is to supply a complete propulsion package for a 38,000 DWT methanol-ready cement carrier vessel. When built, this will be the world's largest vessel of its type, and the first with a methanol-ready notation. The order has been placed by NovaAlgoma, a joint venture between the Italian Swiss-based, Nova Marine Group and the Canadian Algoma Central Corporation. The...
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18.08.24 - 21:49
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XFRA : DIVIDEND/INTEREST INFORMATION - 20.08.2024 - CA0156441077 (XETRA)
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Das Instrument ACH CA0156441077 ALGOMA CENTRL CORP. CD 2 EQUITY wird cum Dividende/Zinsen gehandelt am 19.08.2024 und ex Dividende/Zinsen am 20.08.2024
The instrument ACH CA0156441077 ALGOMA CENTRL CORP. CD 2 EQUITY has its pre-dividend/interest day on 19.08.2024 and its ex-dividend/interest day on 20.08.2024...
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