Algoma Central Corporation, the largest Canadian shipowner and operator of domestic Great Lakes vessels, announced recently that it placed fifth in Marine Money Magazine’s 2011 Rankings of Publicly Traded Shipping Companies.
Marine Money Magazine has produced its annual ranking of public marine shipping companies since 1991. The 2011 list includes 84 companies engaged in all aspects of marine shipping. The annual Marine Money Rankings, which are designed to measure companies’ ability to improve operating efficiency and to create shareholder value, are based on a wide range of financial measures including total return to shareholders, return on equity, return on assets, total asset turnover, and price to book ratio. Algoma placed 32nd on this list for 2010.
“Algoma had an outstanding and game-changing year in 2011” says Greg Wight, President and CEO of Algoma Central Corporation. “Moving up 27 spots in the prestigious Marine Money rankings and our inclusion in its top ten list is reflective of the hard work of all of our shipboard and shoreside employees.”
A copy of the Marine Money article can be found on the company’s website at www.algonet.com.