Algoma Acquires Croatian-Built Vessel
Canadaian provider of marine transportation services Algoma Central Corporation has reached an agreement with 3Maj Brodogradiliste of Croatia under which Algoma will acquire a new Equinox Class 650’ self-unloading dry-bulk carrier upon completion of the vessel by the Shipyard.The vessel, the second of two such ships that were to be built by 3Maj for the Company, is partially built and moored at the 3Maj shipyard in Rijeka. Work on the vessel was halted in 2017 when the Shipyard entered an extended period of financial difficulties.Algoma took delivery of the Algoma Innovator…
Algoma Expands Ocean Self-Unloader Pool
The provider of marine transportation services, Algoma Shipping Ltd announced that the acquisition of the interest held by Oldendorff Carriers in the CSL International Pool including the three vessels owned by Oldendorff operating in the Pool has been finalised.As a result of the transaction, Algoma’s interest in the Pool has increased to approximately 40%, said the subsidiary of Algoma Central Corporation.The handy-sized Algoma Verity (formerly the Alice Oldendorff) and the panamax sized Algoma Valour and Algoma Victory (formerly the Harmen Oldendorff and the Sophie Oldendorff…
Algoma Tankers Add Algoterra to its Fleet
Algoma Tankers, an operating unit of Algoma Central Corporation, announced that it has taken delivery of the 16,500 DWT Algoterra, a 2010-built product tanker in Amsterdam, Netherlands and the vessel has begun her delivery voyage to Canada.The provider of marine transportation services said in a press release that the vessel departed Amsterdam on March 30, 2019 and will travel through the English Channel before crossing the Atlantic Ocean destined for Halifax. The Algoterra is expected to begin trading in Canada mid-April.“I am pleased to say that our fleet is fully booked for the season…
Algoma Conveyor Heading for Canada
The provider of marine transportation services Algoma Central Corporation announced that the recently completed Algoma Conveyor, the third Seawaymax Equinox Class 740’ self-unloading dry-bulk carrier, has begun its delivery voyage from China to Canada.The vessel began its two month journey home, departing the Yangzijiang shipyard on February 16, 2019.After taking fuel in the Philippines the vessel will cross the Pacific Ocean, travelling through the Panama Canal and from there will make its way to Canada.
Ruhl Named CEO of Algoma
Ken Bloch Sørensen has stepped down as president and CEO of Canadian shipowner Algoma Central Corporation after leading the company for four years. Gregg A. Ruhl, the current Chief Operating Officer, has been named President and Chief Executive Officer and will assume that role immediately.Soerensen is said to want to spend more time with his family in Europe. He joined Algoma in April 2015 and was charged with redefining the strategic focus of the Company to include growth markets beyond North America.
Oldendorff Sells Three Vessels in in CSL Pool to Algoma
The dry bulk operator Oldendorff Carriers sold the three remaining self-unloaders still operating in the CSL Pool for US$100.5 million to Algoma Central Corporation.CSL International Pool is a partnership between Oldendorff Carriers, Marbulk Shipping Inc. and Algoma Shipping Inc.The vessels -Sophie Oldendorff (70,037 tdw built 2000), Harmen Oldendorff (66,188 tdw built 2005) & Alice Oldendorff (50,259 tdw built 2000) - are expected to deliver to Algoma around the middle of 2019.All…
Algoma Central: Refund Given for Cancelled Ship Contract
Algoma Central Corporation (TSX: ALC), a provider of marine transportation services, announced that it has received full refund of all instalment payments made in connection with the now-cancelled shipbuilding contracts with Uljanik d.d. and 3Maj Shipyard of Croatia.Algoma entered into five shipbuilding contracts with 3Maj Shipyard, an operating unit of Uljanik d.d of Croatia. According to a press release from Algoma, after considerable delay, the first of the five vessels was delivered in 2018; however, Algoma cancelled the remaining four contracts as the shipyard’s financial difficulties led to a much-publicized attempt to refinance the company and shipyard management was unable to put forward a credible plan that would lead to completion of the remaining hulls.
Algoma Central Buys Product Tanker
Canadian dry-bulk shipper Algoma Central Corporation announced the purchase of a 2008 built product tanker which will become the seventh tanker within the Algoma Tankers Limited fleet.A press release from the provider of marine transportation services said that the purchase demonstrates Algoma’s commitment to continuing to safely and efficiently ship petroleum products on the Great Lakes – St. Lawrence Seaway and East Coast.“We are extremely pleased to add a vessel to our Algoma Tankers Limited fleet as customer demand continues to strengthen in this segment…
Mobile BWTS Tested on Great Lakes
New system allows for contingency ballast water treatment in a variety of ecologically-sensitive and emergency conditions. Global Diving & Salvage, Inc. recently led a demonstration of the mobile ballast water treatment system, Ballast Responder, on board the 730-foot bulk carrier Tim S. Dool on the Great Lakes. “Equipment was operational within eight hours of arrival and the first set of tanks were fully treated, neutralized, and ready to discharge only 20 hours later,” said Glosten Principal and ballast water treatment expert Kevin Reynolds, PE.
Algoma Central Cancels Croatian New Build Contracts
Canadian shipping company Algoma Central Corporation has decided to cancel all four newbuild construction contracts with Croatian shipbuilder Uljanik.The provider of marine transportation services announced in a press release that that it has taken steps to cancel its remaining four new build construction contracts with a Croatian shipyard.The cancellation notices have been sent to the shipyard as a result of the Yard’s failure to secure refinancing and Algoma has no assurance…
Algoma Joins Whale Conservation Efforts
Algoma Central Corporation, the largest fleet of dry and liquid bulk carriers on the Great Lakes–St. Lawrence Waterway, is adding the crews from 27 of its vessels to an expanding network of whale watchers. For the first time, the crews on Algoma’s self-unloaders, bulkers, tankers and cement carriers will collect data about the whales they see on their journeys this summer."Algoma is committed to providing sustainable and environmentally responsible marine transportation,” said Gregg Ruhl, Algoma’s Chief Operating Officer.
Algoma Purchases Four U.S. Flag 'Lakers'
Algoma Central Corporation, a provider of marine transportation services, today announced it has reached an agreement with American Steamship Company to acquire four vessels. The Company has acquired the M.V. Buffalo, the M.V. Adam E. Cornelius, the S.S. American Valor and the S.S. American Victory. The availability of these vessels presented an opportunity to expand Algoma’s vessel fleet and capacity at extremely attractive values. Both the M.V. Buffalo and the M.V. Adam E. Cornelius…
Algoma Adds Algoma Innovator
Algoma Central Corporation, a leading provider of marine transportation services, today announced that it has taken ownership of the Algoma Innovator from the Uljanik d.d. shipyard in Croatia. The vessel is part of the Company’s Equinox 650’ class of self-unloading dry-bulk lake freighters and is the first new forward mounted boom ship to be built in 45 years. The vessel has been engineered to be a leader in the river class business; it’s forward mounted boom will permit cargo to be delivered into niche spaces allowing greater access and flexibility to customers.
Algoma Niagara Arrives Sept Iles Port
Algoma Central Corporation, a leading provider of marine transportation services, announced that the first Equinox Class self-unloader, the seaway-max size Algoma Niagara, arrived at the Canadian port of Sept Iles, Quebec on November 1st. The Algoma Niagara is the fifth Equinox Class vessel in Canada and she joins her four gearless sister ships in the Algoma fleet. The vessel is currently undergoing inspections and re-flagging as a Canadian vessel before beginning commercial operations.
Radio Holland Renews Contracts with Algoma, CSL and ASC
Recently, Radio Holland Canada and Radio Holland USA celebrated the renewals of key airtime contracts on the Great Lakes with Algoma Central Corporation (ACC), The CSL Group (CSL) and American Steamship Corporation (ASC). Collectively, the three companies operate approximately 65 Lakers which include tankers, self-loading and conventional bulk carriers. The companies signed initial agreements with Radio Holland in 2007. The new agreements include increased bandwidth to meet the growing needs for the companies’ business operations and crew welfare.
NovaAlgoma Short-Sea Carriers Launched
Algoma Central Corporation and Nova Marine Carriers SA today announced the creation of a new joint venture that will focus on short-sea dry-bulk shipping for global markets. This new joint venture, operating as NovaAlgoma Short-Sea Carriers, or NASC, is a 50/50 joint venture between Algoma Central Corporation (Algoma) and Nova Marine Holdings Limited (Nova), the parent company of Nova Marine Carriers. NASC was formed by Nova as an October 31, 2016 carve-out from the deep sea dry-bulk freight business operated by Nova Marine Carriers S.A.
Canadian Fleets, Seaway Invest $160 Mln for 2017 Season
Canadian ship owners and the St. Lawrence Seaway have spent an estimated $160 million on repair and infrastructure projects this winter, boosting the economic fortunes of communities throughout the Great Lakes, the St. Lawrence and east coast, according to the Chamber of Marine Commerce. Canadian ship owners have invested an estimated $70 million to maintain and upgrade their vessels during the winter months — an annual exercise that keeps their vessels in tip-top shape to safely and efficiently deliver goods for North American businesses. The St.
Algoma, Nova Marine Form JV
Canada-based Algoma Central Corporation and Switzerland's Nova Marine Carriers SA have announced that they are exploring an expanded partnership that is expected to lead to the creation of a global company specializing in short-sea dry bulk shipping. Creation of the partnership is subject to completion of appropriate due diligence and finalization 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 world-wide.
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.
Great Lakes Sees New Investment Despite Cargo Slowdown
As ongoing commodity price pressures continued to impact overall tonnage volumes through the St. Lawrence Seaway in September, the shipping industry was buoyed by a number of investments in recent weeks by ship operators and ports, according to the Chamber of Marine Commerce, an association representing Canadian and American marine industry stakeholders. “Despite slower iron ore and coal, growth continues on the Seaway in shipments for domestic sectors like construction, salt mining, agriculture and manufacturing,” said Stephen Brooks, President of the Chamber of Marine Commerce.
Busy Season for Seaway
Grain shipments through the St. Lawrence Seaway are up 7 per cent this season, continuing the pace set last year when ships carried the largest volume of grain through the navigation system in 14 years. According to The St. Lawrence Seaway Management Corporation, grain shipments (including Canadian and U.S. grain) totaled 1.9 million metric tons from April 2 to May 31. The Port of Thunder Bay, the largest grain port on the Great Lakes, reported that its grain shipments were off to the strongest start this season since 1997, as the major handlers continue to export the harvest from 2014.
Algoma Central Orders New Great Lakes Ships
Algoma Central Corporation announced that it has acquired a 2009-built handy size self-unloading ocean class vessel, the Gypsum Integrity, from Gypsum Transportation Limited. The vessel is being renamed the Algoma Integrity. In addition, the company announced that that it has signed contracts with a subsidiary of Uljanik d.d. of Croatia, for the construction of two new Equinox Class 650 foot self-unloading dry bulk lake freighters. These contracts are contingent on the delivery by the shipyard of acceptable security for construction installments required under the contracts.
Great Lakes Seaway Opens 57th Navigation Season
The U.S. and Canadian Seaway Corporations marked the opening of the Seaway's 57th navigation season today, with the transit of the newly-built CWB Marquis through the St. Lambert Lock. The vessel is the first of two Equinox-class lakers ordered by Winnipeg-based grain marketer CWB that are being purpose-built for trade in the Great Lakes Seaway System. In 2014, over 12 million tons of grain moved through the Seaway, the highest volume recorded since the beginning of the 21st century. Ian White, President and CEO of CWB, served as the keynote speaker at the opening.