Duke Snider – Canadian Arctic elder recognized by Finland

By Joe Spears and Monica Ahlroos

The Finns know a thing or two about icebreakers, having constructed Arctic-capable icebreakers for well over 150 years even for the Russians, and it is not every day that they award medals for ice navigation to Canadians. In April 2018 at the Canadian Embassy in Finland, David (“Duke”) Snider, FNI, MM, President of Martech Polar Consulting Ltd. based in Victoria, British Columbia received the Canada-Finland medal metal recognizing his outstanding contributions for fostering good relations via arctic operations and navigation. Martech Polar was recognized by International Transport News Maritime & Shipping Awards 2018 as “Best Global Ice Pilotage and Navigation Specialists” and by CV Magazine’s Canadian Business Awards 2019 as “Best Polar Ice Navigation and Pilotage Specialists” (more…)

Furncan and Cross Marine have joined forces

Marine shipping agencies Cross Marine Inc. and Furncan Marine Ltd., both of Montreal, have consolidated their longstanding business relationships as of April 1 by combining their respective expertise, experience, and resources.  Both agencies will continue to function as before, under their own names, and there are no changes in contact information.

Cross Marine Inc. was founded in 1991 by Capt. Jan Kroskowski, and specializes in representing cruise lines across Canada.

Under the direction of President and CEO Andrew Chodos, Furncan Marine, founded in 1976, through its long established offices in Saint John NB and Halifax NS, has been operating as agents in the Maritimes, with expertise in cruise ships, tankers, breakbulk, container carriers and bulk carriers.

Algoma Central Corporation reports results for the year ended December 31, 2018

Algoma Central Corporation announced that for the year ended December 31, 2018, revenues increased by 12 per cent.

Consolidated revenues increased to $508.2 million as a result of improved rates in the Domestic Dry-Bulk and Ocean Self-Unloaders segments, and increased customer demand in the Product Tankers segment. Net earnings declined to $50.9 million from $58.8 million in 2017. However, net earnings from continuing operations, which excludes income from discontinued real estate operations in 2017, increased from $35 million to $50.9 million. Earnings in 2018 include a gain of $10.2 million related to the cancellation of four shipbuilding contracts. In December of 2018 the Company received a full refund, including interest, for one of the cancelled contracts and early in 2019, instalments on the remaining three contracts were refunded with interest. (more…)

CN and CP announce first quarter 2019 results

Both of Canada’s major railways felt the effects of a poor weather and cold temperatures, and produced similar financial results. As is evident from the table, net income as a percentage of revenues tumbled dramatically from 34 per cent in the first quarter of 2016 to 21 per cent in 2018 at CP, but recovered to 24.6 per cent in the first quarter of 2019.  At CN, net income as a percentage of revenues dropped from 26.7 per cent in 2016 to 23.2 per cent in 2018, and further declined to 22.2 per cent in Q1 of 2019. Both carriers eased up on their share repurchasing activities. Stock repurchases increase earnings per share numbers, as earnings are divided by a reduced number of outstanding shares. (more…)