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.
EU Carbon Import Tariffs Could Torpedo Global Climate Deal
A move by the European Union to impose duties on carbon-intensive imports would scupper the chances of striking a global agreement to tackle climate change next year, the bloc's top climate official said on Thursday. European leaders have agreed to decide by October whether to set a 2030 goal to cut carbon emissions as the EU contribution to a global pact to tackle climate change, due to be signed in Paris in late 2015 and take effect from 2020. Last month France suggested measures could be taken against imported goods to ease concerns that the 2030 goals could threaten heavy industries competing with foreign rivals that might be subject to laxer environmental goals.
Otto Marine Name AHTS, Sign Cement Carrier MOU
Singapore's Otto Marine celebrate the completion of another unit of one of the world’s largest and most complex AHTS from its Batam shipyard, and also announce they have signed a MOU for newbuilding and conversion of cement carrier vessels. Norwegian designed and DNV classed, Go Phoenix is a highly complex VS491 24,000bhp Anchor Handling Tug Supply (“AHTS”) vessel which is the second of four of its kind to be built in Asia on a turnkey basis. Counted among the world’s ultra large AHTS vessels…
ETA-Ascon to Buy Ships Worth $2.72B
Reports indicate that the Dubai-based ETA-Ascon, a diversified group, plans to buy 76 new ships to expand the size of its fleet to 100 in five years, a report said. The total investment involved in this order will amount to $2.72 billion. The company is negotiating with a number of ship builders for signing major orders. These include orders for four tankers with Japan's Universal Shipbuilding Corporation, he said. The new orderbook will range vessels from Panamax to very large crude carriers (VLCCs) that will require investment in billions of dollars, the report said. Reportedly, the plan will make it the largest fleet owner in the Middle East.
