Algoma Central Corporation reported revenues for the first quarter of 2015 of $51.6 million compared to $51.7 million for the same period in 2014. Domestic dry bulk shipping accounted for revenues of $18.9 million, product tanker shipping revenues totaled $18.6 million, ocean shipping revenues of $10.7 million were recorded, and real estate revenues of $7.9 million were recorded. The domestic dry-bulk business performed exceptionally well, posting a 37.1 per cent increase in revenues. The Product Tanker segment suffered a loss of revenues of 8.3 per cent, while Ocean Shipping revenues declined by 35.6 per cent. Real estate revenues increased by 9.7 per cent.
A net loss of $23 million was incurred, which was not materially different from the $21.9 net loss suffered during the first quarter of 2014.