Algoma Central Corp. and Nova Marine Carriers explore new dry bulk partnership
Published by Harleigh Hobbs,
Editor
Dry Bulk,
Canada-based Algoma Central Corp. and Switzerland-based Nova Marine Carriers SA are exploring an expanded partnership that is expected to lead to the creation of a global company specialising in short-sea dry bulk shipping.
Creation of the partnership is subject to completion of appropriate due diligence and finalisation of definitive documentation.
The new company, which is to be called NovaAlgoma Short-Sea Carriers, or NASC, will initially operate a fleet of approximately 70 bulker vessels with capacities up to 15 000 DWT in markets worldwide. The fleet will comprise owned ships, chartered vessels, and vessels under third party management contracts.
In 2016, Algoma and Nova joined forces to form NovaAlgoma Cement Carriers (NACC) to focus on building a fleet of modern pneumatic bulk vessels to service cement manufacturers. The company has already positioned itself as one of the leaders in this specialiSed segment.
Read the article online at: https://www.drybulkmagazine.com/shipping/03032017/algoma-central-corp-and-nova-marine-carriers-explore-new-dry-bulk-partnership/
You might also like
INTERCARGO convenes maritime industry to advance common approach to dry bulk STS transfers
INTERCARGO brought shipowners, charterers, insurers and service providers together in Athens on 31 March to tackle a growing issue in dry bulk shipping: how ship-to-ship (STS) transfers are actually carried out.