N. M. Paterson & Sons, a Thunder Bay shipping company, is feeling the effects of a slow economy and the loss of one of its ships. The company will eliminate seven managerial positions in the spring.
The loss of the ship Windoc happened last summer when it collided with a Welland Canal lift bridge. The ship's smokestack and wheelhouse were sheared off by the bridge, which was reportedly lowered too early.
The transportation and safety board is still investigating the cause of the accident. Repairing the ship, which is docked in Hamilton, will cost $8 million to $10 million, a company official says.
Although the company still has three active ships, it is expected only two will be in operation when the shipping season starts in March.
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