Algoma Central to buy out partner’s interest in 16 freighters

(SAULT STE. MARIE, Ontario) — Algoma Central Corp. has agreed to buy out partner Upper Lakes Group’s interest in 16 freighters for $85 million, the Sault Star newspaper reported. The transaction includes 11 vessels owned outright by affiliate Seaway Marine Transport. The SMT vessels eventually will be branded with ACC’s colors and name.
Click here to view the newspaper’s story.
By Professional Mariner Staff