The company operates a number of subsidiaries including: In 1980, the Algoma Central was the original owner (as Algocen Realty Holdings Ltd.) of Algo Centre Mall; Algoma Central Company wrote off over $5 million in property value due to 1990's Elliot Lake mine closures[1] and subsequently sold the property.

The mall, renamed in 2005 by a subsequent owner, collapsed in a June 23, 2012, structural failure and has since been demolished.

In 2011 upon the purchase of Upper Lakes Shipping Ltd. and buying out the partnership, the company re-emerged as Algoma Central Marine.

Upon completion of the purchase, the entire fleet was then renamed, with the exception of the John D. Leitch, the ship that was named in honour of the company's then owner.

Beginning in 2013, the corporation initiated construction of a series of new bulk carriers to be named after the lead ship, Algoma Equinox.