Algoma Central Corporation, operator of domestic Great Lakes vessels, placed fifth in Marine Money Magazine's 2011 rankings of publicly traded shipping companies
The annual Marine Money Rankings, which are designed to measure companies' ability to improve operating efficiency and to create shareholder value, are based on an average of measures including total return to shareholders, return on equity, return on assets, total asset turnover, and price to book ratio.
Marine Money Magazine has produced this annual ranking of public marine shipping companies since 1991 and Algoma was placed 32nd on the list in 2010.
"Algoma had an outstanding and game-changing year in 2011" says Greg Wight, President and CEO, of Algoma Central Corporation. "Moving up 27 spots in the prestigious Marine Money rankings and our inclusion in their top ten list is reflective of the hard work of all of our shipboard and shoreside employees."