Algoma Central Corporation Achieves Historic Fleet Expansion with Three Vessel Deliveries in One Week
Algoma Central Corporation (“Algoma,” “Company”) (TSX: ALC) has reached a remarkable milestone by taking delivery of three new ships from three different countries within one week—a first in the company’s history. Since 2013, Algoma has successfully built 23 vessels, with 12 more currently on order or under construction, marking a significant step forward in its strategic expansion.
A Milestone in Fleet Renewal and Growth
Gregg Ruhl, President and CEO of Algoma Central Corporation, emphasized the importance of this achievement, stating:
“This milestone reflects Algoma’s commitment to making significant capital investments to meet our customers’ needs—in the U.S., Canada, and internationally—with the most efficient, reliable, and cost-effective fleet possible. This is a massive undertaking that clearly demonstrates our focus on customer service, fleet renewal, and strategic growth. Special thanks to our Bear Family and partners as these new vessels would not be possible without world-class collaboration and a world-class team.”
These three vessel deliveries align with Algoma’s long-term vision of modernizing, diversifying, and expanding its fleet to ensure stability, reliability, and sustainability while meeting the evolving needs of its customers across North America and beyond.
Delivery of Three New Vessels
Fure Vesborg – Advancing Sustainable Shipping
On February 25, 2025, FureBear, a joint venture between Algoma and Furetank of Sweden, took delivery of its fifth new product tanker, the Fure Vesborg.
- This climate-friendly, dual-fuel vessel commenced operations immediately, loading its first cargo in China.
- The Fure Vesborg is expected to enter trade in Northern Europe by Q2 2025.
- The remaining five vessels in the FureBear newbuild program are scheduled for delivery throughout 2025 and early 2026.
- These eco-efficient tankers are built to reduce emissions and operate with high energy efficiency, reinforcing Algoma’s commitment to sustainability.
Algoma Endeavour – The Final Equinox Class Vessel
On February 26, 2025, Algoma welcomed the Algoma Endeavour into its fleet upon delivery at the 3 Maj Shipyard in Rijeka, Croatia.
- This 740-ft forward-mounted self-unloader marks the completion of Algoma’s Equinox Class fleet, bringing the series total to 12 vessels since its inception in 2013.
- The Equinox Class ships are optimized for operation in the Great Lakes and St. Lawrence Seaway, ensuring they are well-suited for long-term service to bi-national U.S. and Canadian customers.
- The Algoma Endeavour joins two other forward-mounted boom vessels in Algoma’s domestic dry-bulk fleet—the Algoma Intrepid and Algoma Innovator.
Algoma East Coast – Expanding Presence in North America
On March 4, 2025, Algoma successfully took delivery of the Algoma East Coast at HD Hyundai Mipo shipyard in South Korea.
- This methanol-ready, ice-class product tanker is the first of two vessels built to serve markets along the Canadian and U.S. East Coasts.
- Her sister ship, the Algoma Acadian, is scheduled for delivery in late March 2025.
- These new-generation tankers are designed for increased operational flexibility, environmental sustainability, and fuel efficiency.
Strengthening Algoma’s Commitment to Innovation and Sustainability
With these strategic fleet additions, Algoma Central Corporation continues to enhance stability, reliability, and productivity across its operations. As Algoma modernizes its fleet, each new ship reflects its dedication to:
- Customer Service Excellence – Meeting the needs of critical industrial and manufacturing sectors across North America and international markets.
- Fleet Sustainability – Incorporating eco-friendly and fuel-efficient designs to support global emission reduction goals.
- Operational Reliability – Delivering high-performance vessels that optimize transport efficiency and reduce environmental impact.
About Algoma Central Corporation
Algoma Central Corporation is a global leader in marine transportation, owning and operating a diverse fleet of dry and liquid bulk carriers serving key industries throughout the Great Lakes-St. Lawrence Region and international waters.
Focused on exceptional customer service, fuel efficiency, and technological innovation, Algoma plays a crucial role in:
- Driving productivity through cutting-edge fleet solutions.
- Supporting economic growth and strengthening communities.
- Enhancing sustainability by investing in next-generation shipping technologies.
As Your Marine Carrier of Choice™, Algoma remains committed to shaping the future of marine transportation. Learn more at www.algonet.com.