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. The winter season in the North Atlantic does not provide safe conditions for a transit voyage by a lake freighter; consequently, the vessel is scheduled to depart Croatia mid February, 2018 to be ready for the opening of the St.
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. In accordance with its agreement with Algoma, Nova has transferred all short-sea commercial contracts to NASC and transferred its interest in NASC and its interests in any dry-bulk vessels of less than 15…
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.
Air Cavity System for Existing Vessels
DK Group announced the launch of the Air Cavity System (ACS) Retrofit for existing vessels. The new technology - a development of the original ACS that was specifically designed for new vessels - can be retrofitted at standard drydock or in most ship and repair yards in just 14 days. ACS Retrofit, which seatrials have shown can reduce fuel consumption by up to 15% depending on vessel type, has an average fuel cost payback of under two years at current bunker fuel prices, with some ship classes achieving substantially better payback periods.
