Algoma Central reported a first quarter loss that was smaller than the one reported a year earlier thanks to better dry bulk results and increased shipments during the seasonally weak first quarter. 

The Ontario-based company reported a net loss of CAD 19.1m ($13.9m) in the first quarter, compared to a CAD 22.9m net loss in the year earlier. Revenue for the quarter was up 20% compared to a year ago at CAD 48.7m.