03:04:32 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



Algoma Central Corp
Symbol ALC
Shares Issued 38,509,127
Close 2023-10-30 C$ 14.43
Market Cap C$ 555,686,703
Recent Sedar Documents

Globe/CP say Algoma Central told backlog will take time

2023-10-31 08:51 ET - In the News

The Globe and Mail reports in its Tuesday edition that cargo is moving again on the St. Lawrence Seaway after management and Unifor struck a tentative deal on Sunday, but it could take most of the week to clear the backlog of ships halted during the labour stoppage -- and even longer for supply chains to normalize. A Canadian Press dispatch to The Globe says workers were back on the job as of 7 a.m. on Monday, as ships were expected to start moving again throughout the day. The tentative agreement, which must still be ratified, ended a strike that began Oct. 22. The job action by 360 workers represented by Unifor brought a stop to ships though the key trade corridor. As of Monday morning, nearly 100 ships were strewn at ports and docks across the Great Lakes and St. Lawrence River waiting to pass through the seaway, said Bruce Burrows at the Chamber of Marine Commerce. He said it would take up to 14 hours to get the seaway up and running and around five days to clear the backlog of ships waiting to get back into the system. In recent days, Mr. Burrows said, there had been increasing worry among shippers and producers, especially in the grain and steel sectors, who rely on the seaway to export their products.

© 2024 Canjex Publishing Ltd. All rights reserved.