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. The fleet will comprise owned ships, chartered vessels, and vessels under third party management contracts.
Israel Shipyard Wins $50m Contract
Israel Shipyards won two contracts, worth over $50 million, to build four general cargo ships for two European customers, according to a report on www.port2port.com. Israel Shipyards Ltd (ISL) has specialized in military shipbuilding. The first customer ordered two ships which will be employed by European cement manufacturers the second, a shipping company which operate some 50 vessels of similar size. The four 90 meters long vessels on order, are classified as dwt 4,500 bulk vessels which can transport , in addition to ordinary bulk cargo, heavy and oversize cargoes.
