Algoma Signs JV with Nova Marine for Global Cement Carrier Fleet
Canada-based Algoma Central Corporation has signed a joint venture (JV) agreement with Nova Marine Holding of Luxembourg to establish a fleet of cement carriers to supply infrastructure projects across the globe. Algoma will own 50% of the joint venture, which is to be named NovaAlgoma Cement Carriers or NACC. "We are very excited about the opportunity this investment with Nova presents," said Ken Soerensen , President and CEO of Algoma. The demand for modern efficient cement carriers continues to increase globally. This growth is fuelled by demands for infrastructure in developing regions, by infrastructure renewal in mature markets, by consolidation among major cement producers and by the need to renew an aging fleet.
Rolls-Royce $17.5m Marine Systems Deal
Rolls-Royce, a provider of marine systems, has won a $17.5m order to supply fuel-efficient maneuverability systems for four new cement carrying vessels. The vessels, due for delivery in 2011 and 2012, are the latest generation of this type of ship. The four 16,800 dwt vessels will be operated by the Kristian Gerhard Jebsen Group (KGJS). The order includes the Promas integrated propeller and rudder system, steering gear, tunnel thrusters and deck machinery. The system also includes switchboards, automation systems and an integrated bridge. The Promas can increase propulsive efficiency by four to six percent with improved maneuverability at high and low speeds. The vessels are being built at the Vinashin Group’s Ben Kien shipyard in Hai Phong, Vietnam.
