Canada’s Algoma Central Corporation and CSL have ordered four new methanol-ready self-unloading bulk carriers at Jiangsu Yangzi-Mitsui Shipbuilding (YAMIC).
The order placed at the joint venture between China’s Yangzijiang Shipbuilding and Japan’s Mitsui E&S Shipbuilding has been split between the partners, who together form the CSL International Pool.
“We are reinvesting with confidence in a business segment that has performed well for us for many years, alongside our long-term partner, and with YAMIC, a shipyard having a proven track record for quality construction and on-time delivery of these specialised assets,” said Gregg Ruhl, president and CEO of Algoma, which owns and operates the largest fleet of dry and liquid bulk carriers operating on the Great Lakes – St Lawrence Seaway.
“This joint order represents our long-term commitment to serving our customers safely and sustainably with our ocean-going pool of ships,” added Louis Martel, president and CEO of CSL, the largest owner and operator of self-unloading ships.
The 72,250 dwt newbuilds will replace the three oldest ships in the pool and see its fleet size increase to 19. The first vessel delivery is scheduled for July 2025, beginning with an Algoma ship. The subsequent deliveries are expected every three months, and Algoma and CSL have the option to build an additional two vessels all of which are expected to be 40% more efficient than the ships they will replace.
