Skip to content

Shipping company sells off vessels (3/02)

N. M. Paterson and Sons Limited of Thunder Bay has finalized a deal to sell three of its ships to Canada Steamship Lines (CSL) Inc.

N. M. Paterson and Sons Limited of Thunder Bay has finalized a deal to sell three of its ships to Canada Steamship Lines (CSL) Inc. The three vessels - the Paterson, the Cartierdoc and the Mantadoc -will be renamed the Pineglen, the Cedarglen and the Teakglen respectively.

Paterson officials have refused to comment on the sale. But some individuals speculate the deal may end the company’s shipping business on the Great Lakes that began in 1915. The three vessels will join the current CSL bulker fleet composed of the Ferbec, Oakglen and Mapleglen. They will be utilized in the conventional grain and iron ore trades on the Great Lakes, according to a CSL news release.

CSL is a major North American shipping company transporting over 20-million tonnes annually. Together with its international affiliate, CSL owns and operates the largest fleet of self-unloading vessels in the world.

Norman McLeod Paterson, who later became Sen. Paterson, founded N. M. Paterson in 1908. The company is Canadian and 100 per cent family owned. It provides grain handling, marketing and crop inputs sales and service, livestock feed production and organic grain sourcing services domestically and internationally.




Comments