(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.
Image with caption: "The Algoma Equinox underway in the Welland Canal (CNW Group/Algoma Central Corporation)". Image available at: http://photos.newswire.ca/images/download/20141031_C8760_PHOTO_EN_7379.jpg
SOURCE: Algoma Central Corporation
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