Canada's Algoma Central reports higher Q2 revenue and net earnings

Algoma Central Corporation reported revenue of CA$258.27 million ($185.36 million) for the second quarter ended June 30, 2026, up from CA$211.72 million in the corresponding period of 2025. Net earnings increased to CA$35.59 million from CA$32.88 million a year earlier.

Revenue in the domestic dry bulk segment rose 17 per cent to CA$144.89 million, while operating earnings increased 23 per cent to CA$32.73 million, supported by additional vessels, higher freight rates, and stronger demand from the construction, agriculture, and salt sectors.

Operating earnings in the product tanker division climbed 42 per cent to CA$6.40 million, reflecting fewer regulatory dry-dockings and a full quarter of operations for Algoma Acadian and Algoma East Coast.