Algoma Central Corporation announced that Ken Bloch Soerensen has resigned as President and CEO to spend more time with his family in Europe. Gregg A. Ruhl, the current COO, has been named President and Chief Executive Officer, effective immediately.
Mr. Soerensen joined Algoma in April 2015 and was charged with redefining the strategic focus of the Company to include growth markets beyond North America. He led the development of the global short sea business and spearheaded the creation of the NovaAlgoma partnership. During his tenure, Algoma’s international business grew to represent nearly one half of the revenue streams in which the Company participates. (more…)
By Brian Dunn
The cost of hijacking and corruption
In the film Captain Phillips based on the 2009 hijacking by Somali pirates of U.S.-flagged MV Maersk Alabama, the character played by Tom Hanks is taken hostage for a ransom that was never paid after a tense standoff. Maersk Alabama was also the first American cargo ship to be hijacked in two hundred years.
While hijacking is clearly the most dangerous type of situation facing shipping companies in some parts of the world, there are less severe incidents which still have to be dealt with on a daily basis. One of the most common is bribes to officials at certain ports who can make life difficult and costly if shippers don’t cooperate. (more…)
By Tom Peters
The sleek new container vessel Tropic Hope made its inaugural call to the port of Halifax in January, launching a new era for niche carrier Tropical Shipping.
Tropical Shipping, headquartered in Florida, moved its sailing service to Halifax from Saint John in January 2017 and operates weekly between the Nova Scotia port and Palm Beach, Florida, as well as to Puerto Rico, the Eastern Caribbean and the Virgin Islands. The line calls Halifax’s South End terminal, operated by Halterm, moving between 40,000 and 50,000 TEUs annually. Tropical is the premiere carrier for temperature controlled cargo in the Caribbean, said Gordon Cole, Tropical’s Assistant Vice-President in Saint John. The shipping line maintains its administrative offices and a staff of 22 in the New Brunswick city. The carrier transports products such as french fries and other foods to the Caribbean, and returns with pharmaceuticals and other products. (more…)
By Alex Binkley
Great Lakes ship operators are divided on their prospects for 2019 with Algoma Central, Canada Steamship Lines and Fednav cautiously optimistic that they will be at least as busy as in 2018. The 6.8 per cent increase in cargo handled by The St. Lawrence Seaway Management Corporation in 2018 over 2017 adds to their confidence.
By Mike Wackett
Hapag-Lloyd has rolled out its plans for recovering the extra cost of compliance with IMO’s 0.5 per cent sulphur cap for shipping, which comes into force in less than 15 months. It no doubt hopes its proposals will be better received by customers than those of its rivals – slammed by suspicious shippers as “lacking transparency” and “blatant profiteering”. (more…)
By Sam Whelan, Asia correspondent
IMO’s 0.5 per cent sulphur fuel cap will cause an “existential crisis” for container carriers, unless they can pass on the added bunker costs to shippers. APL Chief Executive Nicolas Sartini said carriers had little choice but to opt for considerably more expensive low-sulphur fuel from January 2020, since the alternatives – using LNG or fitting ships with scrubbers – were not viable short-term solutions. “We are 100 per cent behind the regulation as it’s good for the environment,” he told delegates at the TPM Asia conference in Shenzhen in early October. “The problem is the new fuel cost is between $250 and $350 per tonne more expensive than the fuel we buy today.” (more…)