Algoma Central Corporation, a prominent marine transportation services provider, revealed its recent acquisition of two 2009-built product tankers, each boasting a capacity of 16,600 deadweight tons. The vessels were procured from Knutsen OAS Shipping in Norway.
We’ve seized an opportunity to acquire top-notch ice-class product tankers, tailor-made for trading in both Canada and Northern Europe. This strategic move enhances our ability to provide dependable services to our esteemed customers,” stated Gregg Ruhl, President and CEO of Algoma.
Initially, the vessels will be under bareboat charters back to the sellers. After the conclusion of these charters later this year, Algoma intends to deploy one vessel within the company’s Canadian fleet and another in Europe, marking a significant step forward in our operational expansion.
About Algoma Central Corporation
Algoma Central Corporation is a global provider of marine transportation that owns and operates dry and liquid bulk carriers, serving markets throughout the Great Lakes St. Lawrence Seaway and internationally. Algoma is aiming to reach a carbon emissions reduction target of 40% by 2030 and net zero by 2050 across all business units with fuel efficient vessels, innovative technology, and alternate fuels. Algoma truly is Your Marine Carrier of Choice™. Learn more at www.algonet.com.