" /> May 2015 - Canadian Sailings

CN announces support for children’s hospitals in New Orleans and Memphis

Ochsner Hospital for Children of New Orleans, Louisiana’s largest non-profit, academic healthcare system, announced that it has been selected as the sole U.S. beneficiary of the 2015 CN Miracle Match campaign, a charitable initiative to rally communities to support children’s hospitals in North America. CN will match up to $300,000 in donations to Ochsner Hospital for Children this year. Ochsner Hospital for Children is only the second U.S. institution to be selected since the program began in 2006.


Algoma Central reports earnings for 2014

Algoma Central Corporation reported revenues for 2014 of $503.6 million compared to $491.5 million for 2013. Domestic dry bulk shipping accounted for revenues of $337.2 million, product tanker shipping revenues totaled $95.2 million, ocean shipping revenues of $41 million were recorded, and real estate revenues of $30.2 million were recorded. The increase in revenues is mainly attributable to the domestic dry-bulk business as a result of strong customer demand and high fleet utilization compared to the prior year. This increase was partially offset by reduced volumes for domestic tankers and ocean shipping.  Real estate revenues were higher in 2014 compared to 2013.


Sharp improvement in ZIM’s 2014 results

ZIM ended 2014 with significantly improved Non-GAAP results, partly due to the completion of the Company’s debt restructuring, on July 16, 2014. The $3.4 billion debt restructuring, which included a debt to equity swap of $1.4 billion, significantly improved the Company’s financial strength and brought the Company to report positive equity.