Algoma and Nova Marine launch new dry bulk joint venture

Algoma and Nova Marine launch new dry bulk joint venture

Canada’s Algoma Central Corporation and Switzerland’s Nova Marine Carriers are building on their collaboration in cement shipping with a new joint venture.   

The two companies announced that 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 (NASC), will initially operate a fleet of approximately 70 bulkers with capacity of up to 15,000 dwt in markets world-wide.

The fleet will comprise owned ships, chartered vessels, and vessels under third party management contracts.

Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.

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