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Construction cargo surge on St. Lawrence Seaway

2015-07-30

Greg Wight, President and CEO of Algoma Central Corporation since 2008  recently announced to employees his plan to retire from the Corporation during the 1st quarter of  2015.
Mr. Wight joined the Marine Division of Algoma Central Railway in January 1980 as the Division's Controller. At that time, Algoma's Marine Division owned and operated 12 Great Lakes vessels and had revenues of $66 million.
Today, as CEO, Greg heads an organization that owns and operates 33 Great Lakes vessels and has interests in ocean shipping and real estate. In 2013 the Corporation reported revenues of $500 million.
Mr. Wight  rose steadily in the Company, holding a variety of financial roles, eventually moving to St. Catharines in 1996 following the sale of the Algoma Central Railway and the consolidation of the Company's marine operations in the city.
In addition to his responsibilities at Algoma and a number of positions with industry related organizations
"Come January, I will have been with Algoma for 35 years," Mr. Wight said "and I could not have asked for a better Company or group of people to work with. Algoma has risen to be the largest owner and operator of Canadian flag vessels on the Great Lakes - St. Lawrence Waterway. The Company prides itself on its contribution to the Canadian economy and on the role it plays in the communities in which employees live and work."
Mr. Wight continued, "Algoma is a very strong company that has been recognized as one of Canada's Best Managed Companies in both 2012 and 2013."
"Greg deserves tremendous praise for his contributions to the company", said Duncan Jackman, Chairman of the Board of Directors of Algoma.  "His leadership and focus have been so important to the success of Algoma, particularly during a period of such economic uncertainty.  Greg's accomplishments extend to the fleet renewal program he championed, which leaves Algoma well positioned for future success."
The Board of Algoma has engaged an executive search firm to assist them in the process of selecting Mr. Wight's successor and will consider both internal and external candidates for the role.
(Photo ACC)Greg Wight soon retiring from Algoma

A steady demand for construction materials is a highlight of  St. Lawrence Seaway shipping activity so far season. The transport of dry bulk cargo is at nearly 3 million metric tons, up 7.5 per cent through the first part of the season, April 2 through June 30.

However, total cargo tonnage for the three-month period was down 8.4 per cent at 10.4 million metric tons due to large declines in iron ore and coal shipments. While U.S. grain shipments remained strong, total grain was down 12.6 per cent at 2.75 million metric tons.

Leading the way in the construction sector are 102,000 metric tons of stone, representing a 24 per cent increase. Cement products also saw a healthy upswing to 563,000 metric tons, a 9.5 per cent increase.

Much of the growth has to do with the rebounding U.S. construction market for residential, commercial and infrastructure projects including roads and bridges. Materials have been heading from several Canadian-based companies to U.S. ports including Cleveland, Detroit, Milwaukee, Saginaw and Chicago.

Key Canadian destinations include Thunder Bay, Mississauga, Windsor, Sarnia and Toronto.

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Shore power facilities for two container terminals at Port Metro Vancouver

2015-07-28

Greg Wight, President and CEO of Algoma Central Corporation since 2008  recently announced to employees his plan to retire from the Corporation during the 1st quarter of  2015.
Mr. Wight joined the Marine Division of Algoma Central Railway in January 1980 as the Division's Controller. At that time, Algoma's Marine Division owned and operated 12 Great Lakes vessels and had revenues of $66 million.
Today, as CEO, Greg heads an organization that owns and operates 33 Great Lakes vessels and has interests in ocean shipping and real estate. In 2013 the Corporation reported revenues of $500 million.
Mr. Wight  rose steadily in the Company, holding a variety of financial roles, eventually moving to St. Catharines in 1996 following the sale of the Algoma Central Railway and the consolidation of the Company's marine operations in the city.
In addition to his responsibilities at Algoma and a number of positions with industry related organizations
"Come January, I will have been with Algoma for 35 years," Mr. Wight said "and I could not have asked for a better Company or group of people to work with. Algoma has risen to be the largest owner and operator of Canadian flag vessels on the Great Lakes - St. Lawrence Waterway. The Company prides itself on its contribution to the Canadian economy and on the role it plays in the communities in which employees live and work."
Mr. Wight continued, "Algoma is a very strong company that has been recognized as one of Canada's Best Managed Companies in both 2012 and 2013."
"Greg deserves tremendous praise for his contributions to the company", said Duncan Jackman, Chairman of the Board of Directors of Algoma.  "His leadership and focus have been so important to the success of Algoma, particularly during a period of such economic uncertainty.  Greg's accomplishments extend to the fleet renewal program he championed, which leaves Algoma well positioned for future success."
The Board of Algoma has engaged an executive search firm to assist them in the process of selecting Mr. Wight's successor and will consider both internal and external candidates for the role.
(Photo ACC)Greg Wight soon retiring from Algoma

Kerry-Lynne D. Findlay, Minister of National Revenue and Member of Parliament for Delta-Richmond East, on behalf of the Transport Minister Lisa Raitt, and Port Metro Vancouver (PMV) President and CEO Robin Silvester have announced funding for the installation of shore power facilities for container vessels at two  PMV container terminals. For the project funding of $12 million, PMV is contributing $6 million and $6 million has been allocated from Transport Canada's Shore Power Technology for Ports Program.

Shore power reduces emissions by allowing vessels to draw power from the local electrical grid and thereby turn off their diesel engines while in port. Also present for the announcement on July 22 were partners BC Hydro, Global Container Terminals - operators of Deltaport terminals - and DP World Vancouver, operators of Vancouver's Centerm.

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Federal support for Port of Québec multipurpose terminal

2015-07-16

Greg Wight, President and CEO of Algoma Central Corporation since 2008  recently announced to employees his plan to retire from the Corporation during the 1st quarter of  2015.
Mr. Wight joined the Marine Division of Algoma Central Railway in January 1980 as the Division's Controller. At that time, Algoma's Marine Division owned and operated 12 Great Lakes vessels and had revenues of $66 million.
Today, as CEO, Greg heads an organization that owns and operates 33 Great Lakes vessels and has interests in ocean shipping and real estate. In 2013 the Corporation reported revenues of $500 million.
Mr. Wight  rose steadily in the Company, holding a variety of financial roles, eventually moving to St. Catharines in 1996 following the sale of the Algoma Central Railway and the consolidation of the Company's marine operations in the city.
In addition to his responsibilities at Algoma and a number of positions with industry related organizations
"Come January, I will have been with Algoma for 35 years," Mr. Wight said "and I could not have asked for a better Company or group of people to work with. Algoma has risen to be the largest owner and operator of Canadian flag vessels on the Great Lakes - St. Lawrence Waterway. The Company prides itself on its contribution to the Canadian economy and on the role it plays in the communities in which employees live and work."
Mr. Wight continued, "Algoma is a very strong company that has been recognized as one of Canada's Best Managed Companies in both 2012 and 2013."
"Greg deserves tremendous praise for his contributions to the company", said Duncan Jackman, Chairman of the Board of Directors of Algoma.  "His leadership and focus have been so important to the success of Algoma, particularly during a period of such economic uncertainty.  Greg's accomplishments extend to the fleet renewal program he championed, which leaves Algoma well positioned for future success."
The Board of Algoma has engaged an executive search firm to assist them in the process of selecting Mr. Wight's successor and will consider both internal and external candidates for the role.
(Photo ACC)Greg Wight soon retiring from Algoma

The federal government has announced "funding consideration" of up to $60.2 million for a major project to construct a deepwater multi-purpose terminal in the Beauport sector of the Port of Québec. The overall project, known as Beauport 2020 with an estimated total cost of $530 million, has a five-year construction phase once regulatory environmental and other conditions are met.

Denis Lebel, Minister of Infrastructure, Communities and Intergovernmental Affairs, indicated on July 10 that the federal contribution would come from the National Infrastructure Component of the New Building Canada Fund.

A press release from Infrastructure Canada said the Québec Port Authority was responsible for costs of nearly $130 million. The Port is reportedly counting on private sector infrastructure investments of between $250 million and $400 million for transfer and storage operations.

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