Americas News
Great Lakes Fuel-Saving Ship Launches
Algoma Central Corporation [TSX:ALC] (Algoma) says it has launched the first ship in a new series of Equinox Class vessels that promise 45 percent greater energy efficiency than ships in the company's existing fleet.
The Algoma Equinox launched at the Nantong Mingde Heavy Industries shipyard in Nantong, China and will begin operations along the Great Lakes-St. Lawrence Waterway during the 2013 navigation season.
The vessel, along with seven others in the series, uses a Tier II compliant engine and an exhaust gas scrubber that can remove 97 percent of sulfur oxides from shipboard emissions.
Algoma said the vessel class will also be the first on the Great Lakes-St. Lawrence system to use an integrated scrubber approved by the International Maritime Organisation (IMO).
"This is a very exciting day for Algoma," said Greg Wight, Algoma president and CEO.
"Today's launching represents the culmination of years of work by our employees to create the Equinox Class."
Algoma will own six of the vessels in the series, worth about $300 million, while two others will be owned by the Canadian Wheat Board (CWB) and operated by Algoma.
The CWB has said its ownership of the vessels will allow it to recoup some of the cost of moving grain to Eastern Canada and allow it to earn money from other commodities producers that use the ships.
