b'THE UNCONTAINEDAlgomas Captain Henry Jackman is 35% more fuel efficient than older vessels, an example ofleveraging technology by Seaway carriers to bolster green shipping. Photo courtesy of SLSMCincluded a myriad of export commodities such as iron ore, whichEach year, millions of dollars are spent on Asset Renewal increased 13% year-over-year, as well as coke and potash whichPlans, including $75.7 million in 2021/22. This level of spending contributed to the 8% increase of the Dry Bulk segment. Thesenot only ensures the reliability of the infrastructure, but provides exceptional results more than offset the substantial 20% drop inemployment to many contractors who carry out this work, export grain shipments, caused by a drought event that affectedespecially during the winter works period of January to March.crops in key growing areas. On the safety front, the Seaways Making Safe Choices Terence Bowles Sums Up Vision and Achievements campaign has been successful in influencing employee In his introduction to the report, Terence Bowles, presidentperformance and safety focus. For the 2021/22 fiscal year, the and CEO, noted the substantial investments through theCorporation attained the milestone of over one million hours years allocated to modernizing and optimizing the Seawaysworked without lost time injury on a Seaway site.operations. Weather conditions were such that the 2021 navigation These improvements, he noted, have strengthened itsseason closed without any concerns about ice. As part of a five-position as an essential transportation corridor for the efficientyear pilot program, for the third consecutive year, the Welland movement of products between North American and worldCanals season was extended to early January. With climatic markets. changes and improvements being made, the Seaway is now Through improvements and the use of technology, theworking towards a later closing date for the Montreal-Lake St. Lawrence Seaway Management Corporation (SLSMC) hasOntario section.reduced its Green House Gas Emissions well ahead of theOver the years, along with producing hydro-electric power, targets set by the Federal Government for the year 2030, whichthe Seaway has taken steps to reduce its carbon footprint, is helping drive sustainability. Moving forward, we will continueincluding adding electric vehicles and equipment. As mentioned to promote the use of vessels versus other less environmentally- earlier, the Seaway is well ahead of the 2030 targets set by the efficient modes of transport, work with partners in the maritimeFederal Government for greenhouse gas emissions.industry to further reduce Green House Gas Emissions,Looking to the present horizon, Bowles acknowledges: contribute to the creation of a Green Corridor and help respondThere are still many unknowns in relation to the pandemic, to global supply chain disruptions. consumer habits and the Russia / Ukraine conflict. In terms of revenue, Bowles explained that the SeawayNevertheless, we continue to explore opportunities to increase ended 2021 at C$83.6 million, plus $7.7 million in revenueexisting commodities, and work with shippers, carriers and generated from lands administered by the Corporation.other partners to attract New Business, as the current Seaway This allowed the Corporation to fully cover $52.3 million inlocks and channels can easily accommodate a 50% increase in manageable costs and contribute $39 million to asset renewal. tonnage.5'