Algoma Central suffered a 47% drop in earnings in a quarter that brought the twin blows of lower salt volume and reduced construction activity.
The Toronto-listed bulker and tanker owner reported net earnings of CAD 17.5m ($12.6m) during the second quarter, down from CAD 33.1m a year earlier.
The profit plunge came on the back of an 11% drop in revenue to CAD 181m.
