GOVERNANCE
PROMOTE A STRONG FOUNDATION
Our Values
Teamwork
We are stronger together.
Passion
We are committed in heart and mind; we are driven, and we are proud.
Integrity
We are honest, we are courageous, and we always strive to make the right choice.
Ownership
We take accountability for our actions, and we are empowered to initiate change.
Sustainability
We believe in our people, we care for our planet, and we work to ensure the prosperity of our stakeholders.
Our Vision: Your Marine Carrier of ChoiceTM
Learn more about our vision and what makes us Your Marine Carrier of Choice.
Ethics and Compliance
Algoma believes that strong corporate governance is a key foundation of a sustainable company.
As a publicly traded Company, with both federally and provincially regulated businesses, Algoma is required to comply with many regulations and statutes.
Our nine-person Board of Directors oversees company management and convenes the following committees:
- Executive Committee
- Audit Committee
- Environmental, Health, and Safety Committee
- Corporate Governance Committee
- Investment Committee
Sustainability governance is the responsibility of Algoma’s senior management and is overseen by the Environmental, Health and Safety Committee of the Board of Directors, whose chairperson is an active member of the environmental community. Algoma senior management meets semi-annually with the committee to present company performance and plans related to environmental and health and safety issues.
Click here to view our Board of Directors
All employees, officers and directors of the company are required to confirm their commitment to Algoma’s Code of Conduct annually and are expected to act in alignment with the company’s core values. The Code of Conduct includes:
- Commitments to compliance with all laws, regulations and policies that apply to the company and its employees
- Guidance on Confidentiality of Information and Conflicts of Interest
- Commitments related to Respect in the Workplace
- Guidance on Fair Dealing
- Prohibition on Bribery
- Commitment to compliance with Anti-Money Laundering Laws
The company provides for confidential reporting of known or suspected breaches of the Code of Conduct or other concerns through good faith reporting to the Vice-President, Human Resources, or ClearView Connects which allows for anonymous reporting. ClearView is also used to report matters relating to, for example, environmental concerns; accounting, auditing, and other financial matters; and issues of respect, violence or harassment in the workplace.
ClearView reports can be made via the following methods:
- Online through its secure and confidential reporting website www.clearviewconnects.com
- By telephone at 1-866-846-7659
- By mail through the confidential P.O. Box at: ClearView Connects P.O. Box 11017 Toronto ON M1E 1N0
The following are key policies in place as part of our commitment to our compliance requirements:
GOVERNANCE POLICIES
Strategic Partnership and Collaboration
When we decide to develop a partnership, we first ensure that the investment fits into our long-term plan to sustain a profitable business and a strong vessel portfolio. It is also important the we choose partners with similar values and goals so we can move forward with a shared vision.
GOVERNANCE
ACHIEVE AND MAINTAIN OPERATIONS EXCELLENCE
By aspiring to operations excellence, our best efforts are directed towards ensuring the health and safety of employees and contractors, avoiding incidents, maintaining company assets in optimal condition and safeguarding our customers’ cargoes.
The Algoma team is always looking for ways to improve our operations and fleet reliability in order to provide value for our customers.
Reliability and Process Improvement
Algoma exemplifies reliability and continuous process improvements through our performance monitoring system, offering real-time data from vessel systems. This enables us to pinpoint improvement opportunities, share best practices, and ultimately achieve reductions in fuel consumption, maintenance costs, and greenhouse gas emissions. Additionally, our shipboard ERP system enhances productivity, lowers lifecycle maintenance costs, and optimizes the utilization of data collected at sea.
Equipment Incident Prevention
Through the dedication of our Operations team and crews, we have achieved outstanding results in maintaining the reliability of our equipment. By identifying trends and root causes for out-of-service events and implementing innovative preventative strategies, we have significantly increased the dependability of critical systems, such as inert gas systems on our tanker vessels.
Value for Customer
By aspiring to operations excellence, our best efforts are directed towards ensuring the health and safety of employees and contractors, avoiding incidents, maintaining company assets in optimal condition and safeguarding our customers’ cargoes.
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