(TSX : ALC)
ST. CATHARINES, ON,
Oct. 31, 2014 /CNW/ - Algoma
Central Corporation ("Algoma" – www.algonet.com), the largest
Canadian shipowner and operator of domestic Great Lakes vessels
announces that it has received all requisite approvals of its
exhaust gas scrubbing systems installed on its Equinox Class
of vessels. The scrubber units, manufactured by Wärtsilä are
designed to remove 97% of sulphur oxide emissions generated by
vessel engines. The scrubber concept works with fresh water
recirculating in a closed-loop system. Sulphur oxides are washed
out of the exhaust then neutralized. Contaminants are
disposed of at reception facilities in port. All vessel
emissions meet exacting IMO, US EPA and Canadian regulatory
standards.
Commissioning of the first scrubber unit installed on the
Algoma Equinox, the first built of the eight vessel series,
was completed by a team from the manufacturer Wärtsilä, together
with Algoma technical and shipboard personnel during this past
summer and the system underwent rigorous testing in early
September, 2014.
"Testing confirmed the scrubber's effectiveness at removing 97%
of the sulphur oxide emissions from all engine exhaust streams
onboard the Algoma Equinox" said Rob
Houston, Algoma's Director – Technical. He added; "the
approvals apply to each of the seven other Equinox Class
ships, including two CWB owned ships." Commissioning of the
scrubber onboard the Algoma Harvester, the second Equinox
Class ship to arrive has commenced. The third Equinox
Class arrival will be the CWB Marquis, due to arrive in
Canada by the end of this
year.
Greg Wight, President and CEO of
Algoma said; "we are extremely pleased to have the first unit
commissioned and approved for use. Equinox Class ships
are not only the most fuel efficient ships operating on the Great
Lakes, they are now the cleanest."
Mira Hube, Algoma's Director –
Environment said; "Equinox Class vessels are helping us to
achieve our strategic objective to improve the energy efficiency of
our fleet and now also to significantly reduce our environmental
footprint through the use of these scrubbers."
Equinox Class ships have been designed with high
efficiency hulls that will require less horsepower to achieve
higher speeds than any previous Great Lakes design and thus achieve
the lowest fuel consumption and emissions per tonne/kilometre of
cargo carried; an improvement of 45% over existing ships owned by
Algoma.
The Equinox Class series includes four gearless bulk
carriers, two of which are owned by the CWB but operated and
commercially managed by Algoma, plus four self-unloaders. By
the end of 2014, three Equinox Class gearless bulkers will
have been delivered with the fourth gearless bulker coming early in
the 2015 navigation season.
The first two Equinox Class self-unloaders are expected
to arrive later in 2015 with the remaining two self-unloaders
arriving in 2016.
About Algoma Central Corporation
Algoma Central Corporation owns and operates the largest
Canadian flag fleet of dry and liquid bulk carriers operating on
the Great Lakes - St. Lawrence Waterway, including 18
self-unloading dry-bulk carriers, seven gearless dry bulk carriers
and eight product tankers. Algoma also has interests in ocean
dry-bulk and product tanker vessels operating in international
markets. Algoma provides ship management services for other ship
owners and owns a diversified ship repair and steel fabricating
facility active in the Great Lakes and St. Lawrence regions of Canada. In addition, Algoma owns and manages
commercial real estate properties in Sault Ste. Marie, St. Catharines and Waterloo, Ontario.
Cautionary Statements
This press release may include forward-looking information
within the meaning of applicable securities laws including
information concerning the business and future results of Algoma.
Forward-looking statements in this press release include statements
about the purchase of vessels by Algoma. Readers are cautioned to
not place undue reliance on forward-looking information. Actual
results and developments may differ materially from those
contemplated by this information. The statements in this press
release are made as of the date of this release and are based on
current expectations. Algoma undertakes no obligation to update
forward-looking information, other than as required by law, or to
comment on analyses, expectations or statements made by
third-parties in respect of Algoma, its financial or operating
results or its securities. Algoma cautions that all forward-looking
information is inherently uncertain and actual results may differ
materially from the assumptions, estimates or expectations
reflected or contained in the forward-looking information, and that
actual future results could be affected by a number of factors,
many of which are beyond Algoma's control, including economic
circumstances, technological changes, weather conditions and the
material risks and uncertainties identified by Algoma and discussed
on pages 15 to 20 of Algoma's Annual Information Form for the year
ended December 31, 2013, which is
available on SEDAR at www.sedar.com.
SOURCE Algoma Central Corporation