Algolake was a self-unloading bulk carrier owned and operated by Algoma Central.

[2] On 23 September 1994, Algolake was headed to Detroit, Michigan with a load of iron ore when the ship ran aground in the St. Lawrence River.

The vessel was sailing at 8 knots (15 km/h; 9.2 mph) when Algolake ran aground, suffering some damage to her hull.

[4] According to Soo Today, a life extension for Algolake was one of the reasons why Algoma Central's profits were down sharply in 2009.

[6] That year, the vessel was sold, renamed Gola and was later scrapped in July at Aliağa, Turkey.