Canada's Algoma Central Corporation has posted a loss for the fourth quarter as it wrote down the value of its bulkers and tankers.
The shipowner said the net deficit to 31 December was CAD 20.21m ($15.43m), compared to a profit of CAD 8.97m the year before.
Revenue jumped to CAD 127.39m from CAD 119.17m, but it booked an impairment charge of CAD 27.51m
