Algoma Central’s annual profit skyrocketed 46% as the shipowner reported asset gains and revenue surges across its tanker, bulker and self-unloader fleets.

The St Catherine, Ontario-based company posted CAD 120m ($88.4m) in net income for all of 2022, a jump from CAD 82.2m in net profit earned in 2021.

Last year’s profit included CAD 13.7m